US fintech company Cleareye.ai has acquired Indian artificial intelligence company AIWare.ai for an undisclosed price.

Based in Kerala, AIWare.ai is a technology start-up that has been engaged in transforming large enterprises by enhancing their throughput efficiency by deploying artificial intelligence, cognitive automation, cloud computing, and advanced analytics. The company, which is headquartered in Trivandrum, is said to have been recognized recently among the top 10 AI startups in India.

AIWare.ai will now operate as Cleareye.ai India and will operate as the dedicated product development and R&D wing of Cleareye.ai.

Cleareye.ai said that it expects to recruit 100 people with skills in cutting edge domains such as data science, and artificial intelligence in the coming months.

Chandrasekhar Somasekhar – Chief Architect of AIWare.ai said: “The combined forces of our team in India and the global company will strengthen our ability to offer unique solutions leveraging Artificial Intelligence, Bionic Automation and Advanced Analytics”.

According to Cleareye.ai, banks across the world are facing severe competition from digital players who are more responsive to consumers, more agile with innovations, and also nimbler. The California-based company said that its platform is designed uniquely to help banks improve their customer experience, innovation, and also employee productivity.

Murali Gopalan – CEO of Cleareye.ai said: “The Cleareye.ai platform is designed to help banks launch products and solutions faster to market, while creating phenomenal customer experience and increasing the top line and bottom-line revenue. Our platform leverages advanced Artificial Intelligence techniques and helps banks achieve this with minimal changes to their core infrastructure.”

  artificial intelligence, Chandrasekhar Somasekhar, India, Murali Gopalan