DBS Bank and Kasisto Selected as Winners in Second Annual LendIt Fintech Industry Awards
DBS Bank and Kasisto Named Most Successful Cross-Border Partnership at LendIt Fintech USA 2018
SINGAPORE AND NEW YORK, NY – (April 17, 2018) – LendIt Fintech USA, the world’s leading event in financial services innovation, announced that it selected DBS Bank and Kasisto as the winners in the Most Successful Cross-Border Partnership at the second annual LendIt Fintech Industry Awards on April 10, 2018. This is awarded to the companies who completed and publicly announced an innovative cross-border partnership in the fintech community.
DBS Bank, a leading bank in Asia with over $390B in assets, is at the forefront of innovation creating lifestyle banking – seamlessly integrating banking into their customers’ everyday lives. By leveraging KAI Banking, Kasisto’s conversational AI platform, DBS created digibank, India’s first mobile-only bank, and runs it with just one-fifth of the resources of traditional banks. Very quickly, DBS leveraged the platform to expand their KAI assistant from India to Indonesia and Singapore, and from mobile to the web and Facebook Messenger. In addition, the KAI-powered assistant is bi-lingual conversing in English and Bahasa Indonesia.
With more than 1.8 million customers, the KAI assistant handles 82% of digibank customers’ requests and inquiries without human intervention. This is the world’s most mature deployment of a conversational AI assistant in a bank to date, and serves as a blueprint for the coming wave of global banking innovation.
The partnership is successful because of the collaboration and shared mindset from the C-suite to engineers, business analysts, AI trainers and project managers. Both companies have cultures guided by agility and human-centered designs and work together to leverage the power of conversation to create experiences that delight customers.
In the words of DBS CEO, Piyush Gupta: “With the advent of technology, banking as we know it is being completely transformed. digibank places an entire bank in our customers’ hands, freeing up their valuable time, and allowing them to ‘Live More, Bank Less.’ As a leading bank in Asia, DBS believes in shaping the future of banking. With Kasisto’s conversational AI platform, we are embracing technologies that can make banking more interactive and intuitive for customers.”
“We have years’ worth of evidence that proves implementing conversational AI in financial institutions already greatly reduces costs while simultaneously improving the customer experience,” said Zor Gorelov, CEO and Co-Founder at Kasisto. “DBS has been a champion for this kind of innovation since day one, and we’re thrilled to work with DBS and to be recognized by LendIt Fintech for our shared success collaborating to change the face of banking.”
LendIt Fintech USA, a gathering of more than 5,000 industry professionals in San Francisco, showcases the leaders in innovation across financial services including the digital banking, fintech, blockchain and lending industries. The annual LendIt Fintech Industry Awards bring together 400 fintech influencers and innovators to celebrate outstanding achievement across 21 unique categories.
For more information about DBS Bank visit www.dbs.com, and for more information about Kasisto, visit
DBS is a leading financial services group in Asia, with over 280 branches across 18 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.
DBS is at the forefront of leveraging digital technology to shape the future of banking, and has been named “World’s Best Digital Bank” by Euromoney. The bank has also been recognized for its leadership in the region, having been named “Asia’s Best Bank” by several publications including The Banker, Global Finance, IFR Asia and Euromoney since 2012. In addition, the bank has been named “Safest Bank in Asia” by Global Finance for nine consecutive years from 2009 to 2017.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 24,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.
Founded in 2013, Kasisto is on a mission to enable companies to attract, engage, support, and transact with their customers via human-like, intelligent conversations, anytime, anywhere. Kasisto’s conversational AI platform, KAI, powers omni-channel bots and virtual assistants with deep domain expertise across mobile apps, web, messaging platforms, wearables, and IoT devices. With contextual and personalized conversations, they fulfill requests, solve problems, and predict needs as well as help companies support and market their products and services. Built with the deepest AI portfolio in the industry, KAI is an agile platform with self-service tools to customize and continually improve consumer experiences and seamlessly add new features. Marquee customers include DBS Bank, Mastercard, Standard Chartered, TD Bank, and Wells Fargo. As an SRI International spin-off, Kasisto leverages decades of artificial intelligence research and IP to create a full-stack, scalable, enterprise-ready platform. For more information visit www.kasisto.wpengine.com. Follow Kasisto on Twitter, LinkedIn and Facebook.
About LendIt Fintech
LendIt Fintech is a recognized global internet finance industry leader, founded in New York in 2013. Its aim is to gather industry elites to discuss and explore latest trends in the development of international financial technology. LendIt Fintech has become the largest event in financial services innovation as it hosts three annual conferences, LendIt Fintech USA, LendIt Fintech Europe, and Lang Di Fintech, and dozens of complementary online and in-person industry events. LendIt also owns and operates one of the world’s leading industry educational channels, Lend Academy.