InnoCells, the corporate venture unit of Spanish lender Banco Sabadell, has invested in artificial intelligence (AI) firm Active.Ai.

The investment is part of the AI firm’s $3m Series A follow-on financing round.

InnoCells was joined by Kalaari Capital, Chiratae Ventures and Vertex Ventures in the round.

Headquartered in Singapore, Active.Ai offers a conversational AI platform for financial services firms.

It leverages cognitive technology with its conversational driver

The platform can be connected to Alexa, Google Home, WhatsApp, Facebook Messenger and Skype.

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By GlobalData

InnoCells executive director Julio Martínez said: “Our investment in Active.Ai will take us one step closer to applying this technology in practice, which is difficult given the high level of vertical specialisation that is required, and will allow us to implement solutions that strengthen Banco Sabadell’s commitment to customer experience.”

The Spanish bank believes that the technology of Active.Ai will enable it to streamline costs by automating functions and designing interfaces for effective client engagement.

Active.Ai CEO and co-founder Ravishankar said: “Digital customer engagement is going through a transformational shift globally with AI enabled interfaces, driving engaging, predictive and contextual conversations with customers.

“Active.Ai is privileged to partner with Banco Sabadell and InnoCells’ teams to bring an intuitive and engaging digital experience to their customers.”