Engageware, a provider of cloud-based customer engagement software, has announced its acquisition of Aivo, a developer of conversational and generative artificial intelligence (AI) technology.

This acquisition signifies Engageware’s commitment to bolstering its platform capabilities and expanding its reach within the financial industry and related sectors.

The move aims to revolutionise customer service, optimise call centre operations, drive sales, and enhance overall operational efficiency.

The acquisition comes as a significant step for Engageware, known for its comprehensive suite of self-serve and employee knowledge management solutions, appointment scheduling powered by AI, and advanced analytics, all integrated through conversational AI. This strategic alignment allows companies to forge deeper connections with customers, boost conversion rates, and cultivate lasting relationships.

One of Engageware’s standout features is its 20-year legacy of offering tailored support to financial institutions, enabling them to navigate the rigorous regulatory landscape governing customer and employee data management.

The success of conversational and generative AI hinges on the quality of data, and Engageware’s expertise ensures meticulous data management, translating to accurate and up-to-date responses delivered through various channels.

Aivo, founded in 2012 in Argentina, has been a trailblazer in AI-driven enterprise solutions for customer engagement, particularly excelling in the fintech, banking, telecom, and retail sectors. The company’s reputation is further cemented by its inclusion in the 2023 Gartner Magic Quadrant for Enterprise Conversational AI and its status as a Meta Business Partner.

By merging with Aivo, Engageware’s clientele will expand to cover more than 700 enterprise customers, solidifying its position as a comprehensive SaaS platform for customer engagement in its target sectors.

Noteworthy about Engageware’s capabilities is its compatibility with over 300 third-party integrations, along with the capacity to facilitate custom integrations. This empowers companies to utilise Engageware’s holistic customer engagement platform to efficiently address customer needs across various channels, encompassing SMS, website interactions, Meta’s social media products (including WhatsApp), mobile apps, IVR systems, video banking, and in-person or online appointments.

The integration of Aivo’s expertise into Engageware’s offerings promises a seamless customer journey, enabling smooth channel transitions and providing data-driven insights to inform strategic decision-making.