Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, today announced a $15.5 million Series C extension, led in the United States by Fidelity Information Services, LLC and internationally by Westpac Banking Corporation, with participation from BankSouth. This brings the total Series C funding to $31 million.

Kasisto is the market leader in conversational AI (AI), and its KAI platform powers the most intelligent and financially aware digital assistants in the financial services industry. Kasisto intends to use the additional funds to continue investing in product development, strategic go-to-market strategies, and the expansion of alliances with leading financial services providers.

The financial services industry is focused on digital channel transformation and consumer interaction. Since the beginning of the pandemic, digital use has accelerated at an astounding rate. Digital assistants and an amazing conversational AI platform are critical to successfully transforming customer experience and service paradigms, according to global fintech businesses and financial institutions of all sizes.

FIS is a global leader in financial technology solutions for merchants, banks, and capital markets organizations. Kasisto is being invested in as part of FIS’ commitment to advance how the world pays, banks, and invests.

“We believe the future of banking experiences will become ever more contextual and will be powered by leading AI technologies that create more engaging interactions for every customer,”

“We are excited to be investing in Kasisto and exploring opportunities to leverage their KAI technology across our digital banking capabilities to more humanize digital consumer interactions.”

                                                                     Stephane Wyper, SVP of FIS Impact Ventures.

Westpac, an Australian multinational banking institution with over 12 million customers, has partnered with Kasisto to implement world-leading AI orchestration technology that seamlessly delivers customer requests to the most knowledgeable digital assistant. As a result, both customers and employees have a more seamless experience.

“The cycles of innovation are getting faster, and so are the needs and expectations of our customers who want quick, intuitive, and personalized service,”

“Kasisto’s technology has enabled us to evolve from traditional chatbots to 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.”

               Scott Collary, Westpac Group Executive, Customer Services and Technology.

BankSouth, a US Community Bank in Georgia and a successful early adopter of Kasisto’s multi-tenant KAI platform, also participated in the round. BankSouth’s use of the KAI Consumer Banking solution demonstrates how a digital assistant can not only service clients but also help the business thrive.

“We have seen the successful adoption of conversational AI from our online banking customer base, and both our customers and bankers have found Kasisto’s technology to be effective and easy to use,”

“The more we work with this robust platform, the deeper and richer the experience has become for our customers. We fully expect that our highly personalized, digital assistant provided by KAI will be an increasingly integral component of our customer’s banking experience, and this investment in Kasisto demonstrates our commitment to making that happen.” 

                                                             Harold Reynolds, BankSouth Chairman, and CEO.

“The expansion of our Series C is a resounding vote of confidence in our vision,”

“The funding will allow us to continue to lead and innovate in the conversational AI space. This year, we have seen our strongest growth to date and expansion in our global and US community banking businesses. I am proud of what we have accomplished and deeply grateful to our talented team that is working tirelessly, with customers and partners, to shape the future of banking.”

                                                                      Zor Gorelov, Co-Founder and CEO of Kasisto.