KAI Banking Powers AI At TD Bank

Kasisto, the AI chat technology company, announced Wednesday (Oct. 4) that TD Bank, a financial company in North America, is using the company’s conversational AI platform, KAI Banking, to create customer-focused experiences for its clients.

In a blog post, the company said the deal TD Bank inked with Kasisto will build on the bank’s effort to create mobile-enabled experiences for customers and one that advances its so-called Bank Human strategy.

In a separate press release announcing the deal, TD Bank said that it was the first bank on a global basis to offer Facebook Messenger as a way to connect with customers, and the first bank in Canada to offer a chatbot on Twitter. With Kasisto, TD Bank said the tool will give authenticated customers instant access to support and real-time spending insights through a service that is as natural as texting with a friend.

“We are excited about this strategic initiative, because it has the potential to help us evolve our relationships with more than 11 million digitally active customers who interact with us every day,” says Rizwan Khalfan, executive vice president and chief digital and payments officer of TD Bank Group. “AI has the potential to change the future of banking, and we are excited about the many ways it can help our customers. Data-driven AI platforms like KAI can help ensure we are continuing to create intelligent, highly personalized and empowering experiences for all our customers.”

Kasisto said the KAI-powered assistant will also enable customers to check account information, review transaction histories and monitor spending levels. “These personalized experiences also include getting instant answers about spending patterns, such as ‘How much did I spend in Vancouver last weekend? What was my largest transaction last week? Or, what did I spend on categories like groceries or coffee last month?’ After their extensive evaluation of AI-driven conversational platforms, we are thrilled that TD chose KAI Banking as their ‘AI brain’ to transform their customer experiences. And this is just the beginning,” the company said.