New York-based fintech Glia has announced the acquisition of Finn AI, an artificial intelligence-powered platform for banks and credit unions. Following the acquisition, the two parties will bring virtual assistance for financial services to the mainstream. Gila will utilize Fin AI’s proven solution in its Digital Customer Service (DCS) platform.
The unified solution will allow financial institutions to offer customers with digital experience across both human and digital assistants. This will increase customer satisfaction and drive new operational efficiencies.
Both Firms Will Combine Their Technologies
The deal will combine Gila’s wide-scale and industry reach with Finn AI’s technological prowess to deliver the most effective chatbox solution in the financial industry.
Co-founder and Chief Executive Officer of Gila, Dan Michaeli, commented on the acquisition. “This marks a new chapter for Virtual Assistants: Verticalization with Scale,” he stated.
He added that generic one-size-fits-all bot providers have not been able to meet the full potential of conversational AI. This has resulted in the increased surge of vendors that focus on specific industry verticals.
But none of the bot vendors have provided widespread adoption on their pace, which is what Gila will provide using Finn AI’s technology, Michaeli said.
Gila comes with the solid financial backing and already boasts of a rapidly increasing customer base. This will help to speed up innovation and increase the adoption to a greater extent. Gila selected Finn AI because of the company’s culture, market approach, and technology.
Finn AI’s Team Will Take Up Leadership Positions In The New Venture
This partnership has been brewing for a long time. It was obvious when Finn AI rolled out its banking-focused virtual assistant for Gila’s CDS platform in 2021 that both firms are planning something big.
Gila has also planned to expand its presence in the Finn AI Canada office. The aim is to establish a “Conversational AI Center of Excellence.” Accordingly, the leadership team of Finn AI will take up leadership positions in Gila. The team will be developing virtual assistant and AI leadership positions within Glia. Chief Executive Officer of Finn AI, Jake Tyler, while commenting on the development, stated that the integration is a massive step in the company’s journey.
