Westpac investment harnesses Kasisto’s artificial intelligence
Australian bank and financial provider Westpac has invested in New York-based startup Kasisto, leveraging its artificial intelligence technology to deliver value for customers and employees.
The bank supports customers and employees by deploying Kasisto’s KAI platform in its chatbots and intelligent digital assistants.
Westpac group executive customer, services, and technology Scott Collary claims the partnership is making it easier for customers to do business with the bank.
“The cycles of innovation are getting faster, and so too are the needs and expectations of our customers who want quick, intuitive and personalised service,” he said.
“Chatbots have traditionally been built with singular purposes and objectives, often making them clunky or confusing. But the technology powering intelligent digital assistants is rapidly maturing, and we recognise its potential to completely transform the service experience.”
“Kasisto’s technology has enabled us to evolve from traditional chatbots into a sophisticated, human-like conversational experience, unified for the first time under a single AI orchestration platform. This means customer queries will be answered more efficiently with reduced wait times and fewer hand-offs,” Collary noted.
Kasisto CEO and co-founder Zor Gorelov supports Westpac’s investment.
“We share a common goal to deliver highly personalised and differentiated customer experiences through cutting-edge AI technology, and we look forward to accelerating our successful collaboration even further.”
Westpac outlines the history of the evolution of its digital assistants:
2018: Introduced first digital assistant supporting employees with home loan questions. Launched customer-facing digital assistant ‘Red’ helping over 4.4 million customers to date.
2020: Launched first digital human ‘Wendy’ helping younger customers with career advice. Commenced partnership with Kasisto to improve suite of chatbots and intelligent assistants.
2021: Launched digital assistant ‘Blue’ helping advisors and direct investors using BT’s wealth management platform.
2022: Built a single orchestrating brain to centralise and handle all AI conversations with customers and employees.
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