Glia, a significant player in the credit union fintech space, announced Thursday that the company had acquired Finn AI. The artificial intelligence company has also grown as a prominent third-party fintech, providing many credit unions with its AI-powered chatbot.
In an announcement from both organizations, the acquisition “aims to mainstream virtual assistants for financial services companies by making Finn AI’s proven conversational AI solutions an integral part of Glia’s industry-leading Digital Customer Service (DCS) platform.”
Financial details of the acquisition were not provided.
Glia Co-founder and CEO Dan Michaeli said, “This marks a new chapter for virtual assistants: verticalization with scale. Generic ‘one-size-fits-all’ bot providers have largely failed to meet the full potential of conversational AI, leading to the emergence of vendors focusing on specific industry verticals. Until now, none of the financial services bot vendors have been able to achieve widespread adoption on their own.”
He continued, “Glia’s large and rapidly growing customer base, combined with solid financial backing to accelerate the pace of innovation, immediately that brings scale. Finn AI is a strong fit for Glia based on its technology, market approach and company culture. We are thrilled to welcome the Finn AI team to Glia.”
According to Thursday’s announcement, the combined Glia and Finn AI solutions will be able to deliver a seamless experience between virtual and human assistance.
Finn AI Co-founder and CEO Jake Tyler said, “Our vertical approach and tight integration with Glia helps financial institutions reduce the costs, extensive training and development time typically required for general AI platforms. Now as part of Glia, we will have the scale to deliver automation solutions to the market as part of a seamless Digital Customer Service platform that delivers the best of both self-service and human assistance when and where it is most convenient for customers. With our existing integration and satisfied joint customers, we will hit the ground running. This is an exciting next step in our journey and we couldn’t be happier to be a part of Glia.”
Glia, according to a statement, will maintain and expand the Canadian office presence of Finn AI and will establish a “Conversational AI Center of Excellence.” Finn AI’s leadership team will take leadership positions within Glia.