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Home Benzinga

interface.ai Secures Strategic 30M Funding to Revolutionize Self-Service Banking with Agentic AI

Jake Smiths by Jake Smiths
October 22, 2024
in Benzinga
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interface.ai Secures Strategic 30M Funding to Revolutionize Self-Service Banking with Agentic AI

PHOTO CREDIT: Cody Pickens

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Written By Jake Smiths 

PHOTO CREDIT: Cody Pickens

As the demand for seamless, automated customer experiences grows across the financial sector, traditional banking models are increasingly under pressure to adapt. interface.ai, a prominent AI solution provider for community banks and credit unions, has positioned itself as a leader in this transformation. Its advanced, multimodal platform enables banks to offer high-quality self-service experiences that are both efficient and personalized. Now, with new strategic funding led by Avataar Venture Partners, interface.ai is set to expand its reach and redefine the future of AI-driven banking.

With a foundation built on consistent growth and an expanding client base, the company is now poised to accelerate its impact across the U.S. market. This new round of funding will empower interface.ai to scale rapidly, enhancing its AI capabilities and expanding its product offerings to meet the evolving needs of financial institutions nationwide.

Leading the Future of AI in Financial Services

interface.ai is at the forefront of reshaping customer interactions through AI. The company provides a self-service platform that surpasses basic automation by integrating industry-specific algorithms and core banking systems. Its multimodal AI agents—through voice, chat, and co-pilot experiences—seamlessly integrate into existing operations, enabling financial institutions to improve service efficiency and create more personalized interactions.

These AI agents autonomously handle a wide range of inquiries, resolving up to 60% of customer issues and freeing up human agents to focus on more complex interactions. As banks and credit unions face mounting pressure to optimize their service models, interface.ai’s technology offers a scalable, effective solution.

Strategic Partnership for Growth

Avataar Venture Partners’ investment underscores a shared vision of advancing AI’s role in financial services. Nishant Rao, Founding Partner at Avataar, sees a long-term partnership that goes beyond capital investment. “Sri and Bruce have done a stellar job building an at-scale company from the ground up, and we are excited to back them as they continue to redefine AI-driven experiences for millions of people,” said Rao. He believes interface.ai has the potential to reach a billion-dollar revenue milestone, with Avataar’s unique #OperatingVC model providing the strategic support to achieve that vision.

The objective of Avataar is to advance interface.ai’s mission by utilizing its operational expertise and extensive experience in scaling enterprise-focused businesses. This will support the company’s objective of providing high-impact, AI-powered solutions that transform the banking experience.

Transforming Self-Service Banking

As digital banking adoption accelerates, financial institutions are under pressure to keep pace with rising consumer expectations for faster, more intuitive service. Traditional contact centers often struggle with complex systems and fragmented data, making it difficult to provide consistent support. Interface.ai’s agentic AI platform changes the equation by autonomously resolving a large volume of routine inquiries, allowing human agents to focus on high-value interactions.

“Our AI agents don’t just react—they anticipate needs, provide tailored advice, and autonomously guide individuals toward long-term financial wellness,” said Srinivas Njay, CEO of interface.ai. interface.ai enables financial institutions to efficiently operate and provide superior customer experiences by seamlessly integrating into existing banking systems.

Njay’s vision for the company is rooted in a mission to democratize financial wellness, inspired by his father’s legacy in community banking. With the added support from this funding round, interface.ai plans to further its mission of providing personalized financial advice and education to a broader audience, making a meaningful impact on the lives of millions—one institution at a time.

 

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Jake Smiths

Jake Smiths

Jake Smiths is an accomplished business reporter with a passion for delivering insightful and accurate news to his audience. His education, combined with years of experience in the field, has equipped him with the expertise needed to dissect and explain intricate financial concepts.

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