The growth of Kiya.ai in the Indian market is phenomenal, as it has handled 20 billion transactions processed between the National Payments Corp of India (NPCI) and banks till date this year, Kiya.ai managing director Rajesh Mirjankar said on the sidelines of Singapore Fintech Festival held Nov 2-4, 2022. Last year, it handled 14 billion transactions, he added.
“We are working in 57 countries, covering all geographies, and we are starting in Latin America with banks as our clients in Brazil and Chile,” he said. The expansion is also carried out through partnerships with local technology companies where possible, he added.
With more and more banks embarking on digitalization journeys, Kiya.ai offers microfinance solutions, scan and monitors transactions to check on the menace of money-laundering, trade transactions in banned goods, banned currencies and blacklisted markets. He described Kiya.ai global expansion as successful, given that revenue is now 50:50 from more than 500 bank clients in India and across the 57 markets.
Elaborating on the market potential, he pointed out that at least two of the 36 bank clients in Asia Pacific have started using Kiya.ai’s metaverse which makes it easier for customers to interact for banking services.
“Our ‘Kiyaverse’ platform will empower banks with their own metaverse that provides a highly personalized experience to their customers by allowing banks to use cutting-edge technology with a human touch which will significantly deepen and personalize customer interaction.