Kasisto

Kasisto is a New York-based company specializing in conversational artificial intelligence (AI) solutions for the financial services industry. The company's flagship product is KAI, a digital experience platform that powers AI-driven chatbots and digital assistants for banks and financial institutions. KAI is designed to facilitate human-like conversations, provide financial knowledge, and automate customer interactions across various channels. In May 2023, Kasisto introduced KAI-GPT, which it claims is the financial industry's first large language model purpose-built for banking. This technology combines KAI's conversational capabilities with GPT technology to enhance the AI's ability to understand and respond to complex financial queries.

Kasisto's AI solutions aim to improve customer experiences, streamline operations, and drive business growth for financial institutions. The company's technology allows banks to automate customer support, deliver personalized recommendations, and empower employees with real-time financial information. In February 2024, Kasisto reported that one of its clients, First Financial Bank, experienced a 10% overall increase in new accounts opened after implementing Kasisto's AI-powered digital assistant. The bank also saw significant increases in specific product categories, including a 27% rise in new certificate of deposit accounts and a 35% increase in mortgages.

Key customers and partnerships

Kasisto works with 47 financial institutions globally, including major banks such as JP Morgan, Westpac, Standard Chartered, TD, and Nedbank. The company also serves US community banks and credit unions, such as First Financial Bank, Meriwest, and Indiana University Credit Union. Westpac, Australia's first bank serving over 12 million customers, has been a Kasisto customer since 2020 and was the first commercial bank to pilot the KAI-GPT large language model in May 2023. Kasisto has partnerships with fintech companies and has integrated its KAI platform with top digital banking partners like NCR, FIS, and Q2.