Glia acquires Finn AI to provide banking virtual assistants

New York-based fintech Glia recently acquired Finn AI, an artificial intelligence (AI)-based chatbot platform for banks and credit unions.

With this acquisition, Glia aims to make virtual assistants “mainstream” for financial services companies.

According to Glia, this unified solution will allow financial institutions to offer customers a “seamless digital experience” through virtual and human assistants, increasing customer satisfaction while generating new operational efficiencies.

“This marks a new chapter for virtual assistants: verticalization at scale. Generic ‘one-size-fits-all’ robot vendors have largely failed to realize the full potential of conversational AI, leading to the emergence of vendors focusing on specific verticals. So far, none of the financial services bot vendors have been able to achieve widespread adoption on their own,” said Dan Michaeli, co-founder and CEO of Glia.

Scale technology to meet customer demand

Founded in 2012, Glia’s Digital Customer Service (DCS) solution enables web and mobile experiences with digital communication choices, on-screen collaboration and AI-powered assistance.

Glia says it has partnered with more than 300 banks, credit unions, insurance companies and other financial institutions around the world to help improve the customer experience. Earlier this year, the company announced US$45 million in Series D, bringing Glia’s total funding to US$152 million and its valuation to over US$1 billion.

“Glia’s large and rapidly growing customer base, combined with strong financial backing to accelerate the pace of innovation, immediately brings this scale. Finn AI is a perfect fit for Glia because of its technology, market approach and its corporate culture. We are delighted to welcome the Finn AI team to Glia,” added Michaeli.

Simplify banking with AI-powered chatbots

Leveraging artificial intelligence and banking expertise, Finn AI builds conversational banking platforms for financial institutions so their customers can manage their money and improve their financial literacy. Finn AI has partnered with major financial institutions including ATB Financial, BECU, United Federal Credit Union, EQ Bank, Cavista Bank, Truist Momentum and many more.

“Our vertical approach and tight integration with Glia helps financial institutions reduce the cost, extensive training and development time typically required for general AI platforms. Now, as part of Glia, we will have the scale needed to deliver automation solutions to market as part of a seamless digital customer service platform that delivers the best in self-service and human assistance when and where it’s convenient. better to customers. With our existing integration and happy joint customers, we’ll get started on track. This is an exciting next step in our journey and we couldn’t be happier to be part of Glia.” said Jake Tyler, co-founder and CEO of Finn AI.

Glia will maintain and expand the Finn AI Canada office presence. The Finn AI leadership team will assume leadership positions within Glia to further develop the AI ​​automation and virtual assistant solutions for the Glia DCS platform.

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