Kasisto Awarded Major Patent that Delivers the Most Secure Conversational Artificial Intelligence for the Financial Services Industry

NEW YORK, Oct. 24, 2019 /PRNewswire/ -- Kasisto, creators of KAI, the leading digital experience platform for the financial services industry, announced today that the U.S. Patent and Trademark Office has awarded Kasisto a broad patent covering the company's design for securing and authenticating conversational intents.

Financial institutions everywhere are looking for innovative ways to engage their customers and deliver exceptional digital experiences while also maintaining the highest standards of security and privacy. Kasisto's patent, U.S. 10,440,003, sets forth and protects a proprietary method of escalating security protocols based on the user's specific request. For example, KAI can quickly provide customers with information about their account balance or routing number. However, if a customer were to request more complex transactions, like transferring money, KAI would immediately understand and elevate the required authentication by asking for a one-time passcode (OTP), without disrupting the digital session.  This innovative process allows KAI to re-authenticate the user without a break in the conversation. With this one of a kind, on-demand re-authentication process, financial institutions' virtual assistants can better protect their customers' personal data in real time, while delivering an exceptional digital experience to the end user.

"Kasisto is committed to delivering the most secure and digitally engaging experiences in our industry. KAI was built from the ground up for the highly-regulated financial services industry. Now, we have developed a truly comprehensive way to give banks the ability to further secure these conversations in real time without disrupting the human-like interactions between KAI and the financial institutions' customers," said Zor Gorelov, CEO and Co-founder of Kasisto. "There is no other Conversational AI technology in the industry that is as secure as KAI; this gives our customers the peace of mind and confidence they need to deploy a truly humanizing digital experience."

According to Aite Group's senior analyst, Tiffani Montez, "Virtual assistants are at a place where the experience needs to evolve from just communicating information to customers, such as where the nearest ATM is located, or when the next earnings call is, to being able to share personal financial information or take action for the consumer, such as issuing a payment. To do that, it will require that consumers are authenticated. In the past, that has meant that customers were directed to the online or mobile banking site to perform that action—creating inconvenience for the customer.  Kasisto's solution provides the mechanism to create an easy, seamless, and secure way to take action for the customer in a convenient manner."

No other Conversational AI technology is used more broadly, in production, within the financial services industry than Kasisto, and security plays a critical role in ensuring the Kasisto customer that their implementation of KAI is safe, and that their customers' data and digital experience are secure. 

To experience how Kasisto can help your bank, fintech, or financial institution deliver human-like digital conversations, visit us at kasisto.com/contact to start a conversation.

About Kasisto

KAI is the leading digital experience platform for the financial services industry. Kasisto's customers include DBS Bank, J.P. Morgan, Mastercard, Standard Chartered, TD Bank, and Manulife Bank among others. They chose KAI for its proven track record to drive business results while improving customer experiences. The platform is engaging with millions of consumers around the world, all the time, across multiple channels, in different languages, and is optimized for performance, scalability, security, and compliance. KAI is built with the deepest Conversational AI portfolio in the industry. Kasisto is headquartered in New York City, with offices in Silicon Valley and Singapore. Kasisto Singapore Pte Ltd is a wholly-owned subsidiary of Kasisto. For more information visit kasisto.com. Follow Kasisto on Twitter, LinkedIn and Facebook.

CONTACT: [email protected]

SOURCE Kasisto, Inc.

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