Westpac invests in NY-based conversational AI startup

The partnership will create more value for customers and employees, bank says

Westpac invests in NY-based conversational AI startup


By Mina Martin

Westpac has invested in New York-based Kasisto, building on an existing relationship with the conversational AI startup, which has bolstered the bank’s portfolio of AI-powered customer experience technology.

Launched in 2013, Kasisto became a commercial partner of Westpac in 2020, providing a better conversational and digital assistance experience for the bank’s employees and customers. The investment will enable the bank to work even more closely with Kasisto to deliver what will create the most value for customers and employees.

“Kasisto’s technology has enabled us to evolve from traditional chatbots into a sophisticated, human-like conversational experience, unified for the first time under a single AI orchestration platform,” said Scott Collary, Westpac group executive, customer services and technology. “This means customer queries will be answered more efficiently with reduced wait times and fewer hand-offs.”

“We are thrilled to have the support and investment of Westpac who are taking a leadership position in the advancement of artificial intelligence technologies in financial services,” said Zor Gorelov, CEO and co-founder of Kasisto. “We share a common goal to deliver highly personalised and differentiated customer experiences through cutting-edge AI technology, and we look forward to accelerating our successful collaboration even further.”

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