Business-to-consumer (B2C) firm Gupshup, which works in conversational messaging to help businesses talk to customers, is acquiring Active.Ai, which provides conversational AI-powered digital financial services, a press release said.
Active.Ai works with banking, financial services and insurance (BFSI) customers. The press release noted that Active.Ai has worked in various ways with voice, video and messaging.
The acquisition will reportedly help Gupshup in its work in retail banking, business banking, credit unions, capital markets and insurance.
“Using Conversational AI, Gupshup is focused on helping businesses … engage with consumers in a natural and contextual manner. Active.Ai’s robust CBaaS platform adds more vertical depth to our product stack,” said Beerud Sheth, co-founder and CEO of Gupshup.
Meanwhile, Active.Ai CEO and co-founder Ravi Shankar said B2C engagement “that combines advanced natural language processing with deep enterprise connectivity is essential.”
PYMNTS wrote that last December, Gupshup rolled out a new service letting businesses make digital storefronts on WhatsApp.
The company said this was based on the commerce capability that was new at the time with WhatsApp.
Gupshup, therefore, would be able to help a company manage the whole buying experience via WhatsApp.
Gupshup also said this would use the 1-click Bill Pay feature, allowing businesses connect payments on WhatsApp or other such platforms. This will all allow companies to make a product catalog, talk with customers on AI-fueled chatbots and pay for things.