Active.Ai: an AI powered Fintech player handcrafted by the leaders of Future
Designed with Technology, Crafted with Innovation
Active.Ai: an AI powered Fintech player handcrafted by the leaders of Future
After flirting with our brains for some time, Automation established itself as the main staple across many industries. Digital transformation has also altered all corners of the financial industry- from payments to online lending. Fintech Innovators are hitting the headlines by harnessing the dexterity of Automation to offer next-gen products and services to consumers and businesses. Now, few clicks have clipped the halt of negotiations between customers and banks. Innovative thinkers have painted the traditional financial industry with the colors of disruptive automated technologies to streamline processes. Pushing the pace of Innovation and addressing the complexities of traditional financial institutions, a fintech player is engraving its roots across the domain to leverage via its expertise to sundry financial verticals including Retail Banking, Virtual Agents, Capital Markets, Insurance, Commerce, Wealth Management, Corporate and Private Banking. With Natural Language Processing (NLP), Natural Language Understanding (NLU) and machine intelligence, the platform enables natural dialogues using messaging, voice and IOT devices.
Problems seem to stubbornly stick around us throughout our lifetime. This perceived gap between the existing state and the desired state seems like an insurmountable hurdle. Capable of exploiting it, a founding team got the right catch when one of the founders, Ravi Shankar lost his wallet during an international trip and a mounted chocked network and endless IVR menu arrested every possible way to reach his bank. Downstream, after a discussion, the trio-Shankar Narayan, Ravi Shankar and Parikshit Paspulati stared at the problem right in the face, looking at the bright side and then came the eureka moment- Active.Ai got conceptualized in 2016. Fostered by the cumulative experience of bankers, motivated FinTech entrepreneurs, technologists and scientists, having in hand over 20 years of expertise, the exceptional Start-up holds dexterity in understanding unstructured data to assist financial services design intelligent conversations through its platform and make predictive, intuitive engagement with their customers on mobile, chat, or voice-enabled IOT devices a breeze.
Emerging as a disruptor
Active.Ai is backed by the capabilities of two layers- an AI engine called Triniti and a conversational middleware called Morfeus. Triniti provides the AI capabilities for natural language comprehension and conversations which can go from transactional to predictive to collaborative in nature by bringing in the human agent seamlessly into the conversation. Active.Ai is not just a home to highly scalable products but is also encompasses pre-built models specifically for banking, insurance and capital market functionalities that is highly customizable and built with multiple language support in mind. Adorned by a vigorous CX in-house team, Active.Ai helps the users to re-imagine user experiences for conversation and robust-curated dialogue responses.
The pilotage spearheading Active.ai belongs to the elite group of serial entrepreneurs who have successfully chartered successful journeys of numerous startups.
Co-founder & CEO
A banker of 16 years with 8 years in Fintech as an entrepreneur with one exit to Amazon and another to Atos world-line, Ravishankar has worked for nearly 18+ years across HDFC Bank, ABN AMRO Bank and YES BANK in various Senior Management Roles, before wearing the hat of an entrepreneur. Over the last 7 years, he has partnered great teams and entrepreneurs across countries building next-generation Fintech and Technology companies.
He is a FinTech entrepreneur with a successful track record in innovation, technology, operations and product development. In 2000, he founded Internet payment company Cazh, followed by enterprise mobility company TAGIT in 2005, and in 2012 he founded Social Payment Company, Fastacash. He has strong problem-solving, change management and project management skills and the ability to develop strategic alliances.
Co-founder & CTO
Parikshit is a Technology Entrepreneur, spanning across Business & Technology, with 17 years of experience in AI, Mobility, Banking & Payments. He holds an instrumental role in envisioning and building multiple products which are deployed globally in Tier-1 Financial Institutions. He co-founded Tagit and is currently at Active.AI, responsible for Product Vision & Roadmap in addition to establishing and managing global delivery teams and operations.
A once-over with the founders in line with Active.Ai’s journey
What is the company planning to bet on in the coming quarters?
The current landscape is vibrant and exciting; several startups are building unique products using AI. Active.Ai believes that helping companies to craft intelligent micro-conversations, harnessed by the power of AI to have deeper meaningful engagement between brands and their customers will be the way forward. We have been gaining momentum since the last year and have “Gone Live” on multiple banks in various geographies. We are working on a cloud SaaS platform which will provide faster adoption with off the shelf API to integrate quickly along with scalability and reliability.
We also work with top research companies like Gartner, Medici and notable publications to build content and assist in providing insights. This will boost our brand presence as a thought leader in the AI world.
What unique specialties does Active.Ai bring to the table?
Active.Ai collaboratively enables the brands to deal with their customers in a more informed and engaged manner. Our conversational AI will provide the relevant data to FSIs to serve their customers exceptionally. Feature-sets like Machine Learning, Natural Language Processing, and Natural Language Generation; all help better and deepen engagement between the brands and their customers.
At the technology labs of Active.Ai, the team relentlessly trains the data and systems, completely iterating the algorithms over a period of time. This is crucial in ensuring that the end product achieves a higher degree of accuracy. Being able to manage and handle conversations efficiently from small-talks to complex transactional conversations, Active.Ai differentiates itself from the rest.
Brief us on the milestones and accolades earned by the company till date.
Active.Ai, raised a total funding of US$11.75m from marquee investors. Simultaneously, we have tasted notable success in enabling four of the largest banks in India, along with other top-tier banks, and insurance companies in Malaysia, Singapore, Thailand, and the Philippines.
Our financial services have span into other verticals like wealth management and securities trading. On the heels of announcing projects with Axis Bank and CIMB Bank going live, we now have our crosshairs set on the US market, and our 24-month-old company has already secured a strong foothold in the Americas.
We are also geared up to participate in selective Awards. Active.Ai has been preferred by GARTNER as Cool Vendor in AI for FinTech in APAC in 2018, acknowledging our financial-services-focused ontology, our deep understanding across a broad range of use cases in social, apps and web channels and our ability for on-premises deployment for FSI security that demonstrates our domain specialty in providing the best experience through our Conversational Platforms.
Talking about the future, what route map has been laid out for the company’s journey ahead?
We’ve already seen a strong interest in our full-stack solution, and these early wins suggest US financial services are ready to incorporate an innovative full-stack AI solution. As Active.Ai scales and enters new markets like the United States, we continue to hire talented people to drive product innovation and growth—2018 will be an exciting year for banks in the Americas.
Active.Ai is a promising young FinTech startup and we strongly believe that the culture of openness, fearless execution and experimentation, inclusion and flexibility is our recipe of success.
Your message for startup tech entrepreneurs…
Be bold and take a calculated risk with an eye for the future. Today’s technology may not guarantee tomorrow’s path. It all boils down to human fundamentals of needs and wants on a daily basis. Once you understood that, pick a place and be great at what you do.