Backbase has acquired Kasisto AI for an undisclosed amount. Kasisto AI, founded in 2013, is a global leader in purpose-built artificial intelligence for banking. This acquisition represents a strategic expansion for Backbase, a financial technology company serving institutions worldwide.
Kasisto AI specializes in delivering reliable AI solutions tailored for the financial sector. Its key offerings include KCB (KAI for Consumer Banking), which redefines digital banking through intelligent, humanlike interactions that enhance customer engagement and differentiate brands. Additionally, KAI Answers provides an AI-powered virtual agent for banking employees, utilizing generative AI and Retrieval-Augmented Generation (RAG) to deliver precise, real-time knowledge and actionable insights, thereby boosting productivity. Kasisto’s technology focuses on personalized, predictive, and proactive capabilities that foster trust and ensure compliance.
The acquisition is designed to integrate Kasisto’s advanced AI capabilities directly into Backbase’s existing solutions for financial institutions. This strategic alignment aims to significantly enhance customer experiences by enabling more intelligent and personalized digital interactions across banking platforms. Furthermore, it is expected to improve operational efficiency for banking employees by providing robust, AI-driven support. The combined entity will focus on delivering secure, banking-specific AI that deepens customer relationships and streamlines internal processes.
The combined entity is poised to offer a more comprehensive and intelligent suite of tools for financial institutions. This move underscores a commitment to driving innovation in the financial industry, enabling banks to transform customer engagement and achieve measurable outcomes through advanced, compliant AI technology.