Bank chatbot platform Kasisto acquired by Backbase

This acquisition means your lending partners are about to get a major upgrade in how they interact with your customers. Backbase is integrating Kasisto’s conversational AI into its platform, which powers many of the banks and credit unions you likely work with. For a retailer or service provider, the benefit is simple: smoother financing applications. Instead of customers getting stuck on rigid forms or waiting for a human agent to explain loan terms, these AI bots can guide them through the process in plain English. The technology is moving away from basic 'help desks' and toward 'financial assistants.' These bots can answer specific questions about monthly payments, interest rates, and approval status in real-time. This reduces friction at the point of sale and can lead to higher conversion rates for your financing programs. If your current lender uses Backbase, expect to see more automated, intelligent support for your shoppers soon. This helps lower the barrier for customers who are hesitant to start a financing application because they don't want to talk to a traditional bank representative.

Source: American Banker — Top News

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