Aurionpro Solutions acquires Arya.ai to boost AI capabilities in banking and insurance

Aurionpro Solutions Limited (BSE: 532668) (NSE: AURIONPRO) has announced a significant move in the fintech industry with its acquisition of Arya.ai, a Platform as a Service (PaaS) startup specializing in banking and insurance. This strategic acquisition, costing approximately 16.5 million USD, includes a combination of share purchases from existing shareholders and new equity capital, marking an all-cash deal. Aurionpro Solutions Ltd. will now hold a 67% majority stake in Arya.ai.

By incorporating Arya.ai’s advanced AI cloud platform, Aurionpro aims to strengthen its existing enterprise fintech solutions and accelerate the adoption of responsible, accurate, and auditable AI technologies. This move is poised to solidify Aurionpro’s position as a leader in enterprise AI for the financial sector, enhancing their capabilities in Artificial Intelligence, Deep Learning, Intelligent Automation, and Autonomous AI Platforms.

“The acquisition of Arya.ai marries Aurionpro’s portfolio of industry-leading enterprise software with one of the most mature Enterprise AI platforms focused on Banks and Insurers,” stated Ashish Rai, CEO of Aurionpro Solutions. He expressed enthusiasm for leveraging Arya.ai’s technology alongside Aurionpro’s broader ecosystem to develop a premier Enterprise AI platform for the global financial industry.

Vinay Kumar, CEO/Founder of Arya.ai, also commented, “Our decade-long experience in building tools/platform for deep learning helped us to build a truly verticalized AI Operating System for Banking and Insurance.” He added that the partnership with Aurionpro would lead to the creation of a new generation of Enterprise AI software for banks and insurers, integrating AI into tasks and developing Autonomous Agents capable of managing entire transactions.

Founded in 2013 by Vinay Kumar and Deekshith Marla, Arya.ai has been a pioneer in the AI startup ecosystem, especially in leveraging Deep Learning for enterprise applications. Arya.ai’s offerings include the Arya API, which features over 80 machine learning models, Libra for fine-tuning state-of-the-art machine learning models, and AryaXAI for AI governance.

This acquisition represents a strategic enhancement of Aurionpro’s already strong fintech portfolio, positioning the company to take a leading role in the integration of AI technologies within the financial sector. The combination of Arya.ai’s deep learning capabilities and Aurionpro’s robust enterprise solutions could redefine the standards of AI applications in banking and insurance, signaling a new era of intelligent automation in financial services.