Backbase has acquired Kasisto AI for an undisclosed amount. Kasisto AI, founded in 2013, is recognized as a global leader in purpose-built AI for banking, providing reliable AI solutions to financial institutions worldwide. This acquisition sees Backbase, a leading financial technology company, integrate Kasisto’s specialized artificial intelligence capabilities into its offerings.
Kasisto AI’s core products include KCB (KAI for Consumer Banking) and KAI Answers. KCB redefines digital banking by delivering intelligent, humanlike interactions that go beyond basic chatbots, seamlessly integrating into banking platforms to deepen customer relationships and enhance engagement. KAI Answers serves as a virtual agent for banking employees, powered by generative AI and Retrieval-Augmented Generation (RAG), providing precise, real-time knowledge retrieval and actionable insights to improve productivity. Kasisto emphasizes secure, banking-specific AI that fosters trust, ensures compliance, and delivers personalized, predictive, and proactive capabilities with un-compromised hallucinations.
The acquisition is strategically aimed at enhancing Backbase’s ability to deliver comprehensive and intelligent solutions to the financial sector. By integrating Kasisto’s proven AI technology, Backbase intends to empower banks to transform customer experiences and achieve measurable outcomes. The synergy between Backbase’s platform and Kasisto’s agentic AI is expected to provide financial institutions with advanced tools for engaging with customers and supporting employees, all while maintaining industry-leading security and compliance standards.
This combination is set to accelerate innovation in digital banking, positioning the unified entity to offer enhanced, secure, and compliant AI-powered solutions. The goal is to further deepen customer relationships, improve operational efficiency, and drive long-term success for financial institutions globally through advanced AI integration.