Corporate TreasuryKasisto launches Virtual Assistant for business banks

Kasisto launches Virtual Assistant for business banks

Corporates and business banks will be able to offer immersive and human-like digital experiences to their customers through Conversational AI-driven interactions.

Kasisto announced at Money 20/20 USA the launch of KAI Business Banking (KBB), a Conversational AI service that will enable corporates and business banks of all sizes to enhance productivity and automation.

Corporate treasurers and their finance teams deal with the continually changing nature of the businesses they serve and the finances they’re tasked to manage. Cash positions are changing hourly, payments are flowing domestically and internationally, approvals need to be made in a timely manner, and reports need to be reconciled across business units, subsidiaries, and counterparties.

Conversational AI has created an important opportunity to help corporate finance teams manage these dynamic and complicated tasks by using intelligent virtual assistants to directly assist these banking functions, and automate tasks that historically have reduced productivity while distracting cash and treasury management staff from focusing on more valuable financing tasks for their companies.

Designed with some of the industry’s leading financial institutions, the KBB intelligent virtual assistant enables corporate customers to easily access information like payment activities, account balances, cash exposures, and automate routine tasks such as reporting, reviews, approvals, and reconciliations. As a result, corporate finance teams are now more productive, and are freed up to focus on managing their business finance needs while also realizing reduced operating costs.

Conversational AI using intelligent virtual assistants

During a fireside chat at Money 20/20 Kasisto’s CEO, Zor Gorelov, and Tammy Petro, J.P. Morgan’s executive director of wholesale payments innovation, will join a panel moderated by James McCaffrey, senior director of Microsoft Research, and explore the reality of Conversational AI and virtual assistants and how they are changing the business banking experience by delivering consumer-like experiences to corporate clients that drive deeper customer engagements, stronger customer satisfaction, and significantly reduce operating costs.

Zor Gorelov, CEO of Kasisto commented: “We collaborated extensively with teams from some of the largest business banks in the world as we built out the industry’s leading virtual assistant for business banking. KBB is the first operational virtual assistant in the market that is designed around the business banking function and offers an impressive customer experience.

“Designed for both large corporate, and small and medium-sized customers, KBB has been trained to directly assist the corporate treasurer and their finance departments with critical daily functions such as payables, receivables, reporting, and analysis. We are absolutely excited to offer this experience to the business banking market and are so proud to see KAI’s portfolio of virtual assistants and associated customers expanding at such a rapid pace.”

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