Product Overview of Kasisto
Kasisto is a pioneering company in the field of conversational AI, specifically designed to revolutionize the banking and financial services sector. Their flagship product, KAI (Knowledge AI), is a sophisticated digital experience platform that aims to humanize and enhance customer interactions with financial institutions.
What KAI Does
KAI is a conversational AI solution that enables financial institutions to provide their customers with personalized, intuitive, and human-like interactions. This platform is designed to handle a wide range of banking tasks, from simple retail transactions to complex corporate banking and wealth management operations. KAI is trained to master the language of finance, allowing it to understand and respond to customer queries with precision and context.
Key Features and Functionality
Natural Conversations
KAI’s advanced Natural Language Processing (NLP) capabilities allow for seamless and contextually relevant interactions, making conversations feel more human-like. This ensures that customers can communicate their needs naturally, whether through text, speech, or touch.
Proactive Insights
KAI anticipates user needs by offering personalized financial advice and proactive alerts about unusual activities, spending patterns, and opportunities for savings. This proactive approach helps in enhancing financial well-being and demonstrating a commitment to innovation.
Cross-Platform Availability
KAI is available across multiple channels, including mobile apps, web interfaces, and voice assistants. This ensures consistent support and accessibility for customers regardless of the platform they use.
Security and Compliance
Built with stringent security protocols and compliance measures, KAI ensures that user data is protected while meeting regulatory standards. Features include enhanced algorithms to scrub Personally Identifiable Information (PII) and long-term record retention to comply with strict banking regulations.
Fast Time to Market
KAI Consumer Banking (KCB) comes with built-in banking knowledge, eliminating the need for costly ramp-up time and training. This allows financial institutions to quickly develop, customize, maintain, and grow their virtual assistants.
Operational Efficiency
KAI helps in reducing call center volume by empowering customers to self-serve, thereby improving intelligent interactions and significantly reducing live chat volumes. This results in substantial reductions in call center costs, with reported benefits including a 50% reduction in live chat volumes and 90% call containment rates.
Customer Engagement and Loyalty
KAI enables lifestyle banking and champions financial well-being, leading to increased brand loyalty. It facilitates proactive conversations that offer timely, contextual, and intelligent suggestions, helping customers discover the products and services they need.
Advanced Segmentation and Personalization
KAI allows banks to define and target customer segments based on various parameters. This feature enables customized responses based on customer segments (e.g., Silver, Gold, Platinum) and channels (e.g., website, voice-enabled devices), ensuring a tailored experience for each customer.
Content Management and AI Training
The Conversation Management System (CMS) includes tools for managing content and AI training, allowing banks to easily add, edit, delete, and preview conversational content. AI Training and Analysis tools enable deep analysis and quick improvement cycles, supporting large-scale rollouts and improved productivity workflows.
In summary, Kasisto’s KAI is a powerful conversational AI platform that transforms customer interactions in the banking sector by providing personalized, secure, and efficient experiences across multiple channels. Its advanced features and functionalities make it an indispensable tool for financial institutions aiming to enhance customer engagement, operational efficiency, and overall service quality.