Startup Spotlight: SENSEFORTH.AI




Name: SENSEFORTH.AI

 

Twitter Handle: @Senseforth

 

Management/Leadership team:

Errol Finkelstein – Senseforth UK, Africa; Australia, Europe MD;  

Shridhar Marri - CEO SENSEFORTH.AI

 

Founded (Date & Location): USA and India; February 2017. UK and South Africa April 2019.

 

Describe your business:

Our bots improve customer interaction, increase revenue, drastically reduce waiting on-hold times, retrieve detailed information and improve customer satisfaction. Our proprietary AI and  Natural Language Programming, with machine learning technologies, open the door to enhanced dialogue between organizations, their customers, employees and stakeholders. This is the synthesis of customers’ queries and history, blended with enterprise data and objectives. Focused and delivering measurable, continuously improving returns.  Focused on banks, insurers, stockbrokers, asset and retirement fund managers. Key Market Differentiators:

  • Over 60 million queries per month
  • Over 60 deployments for 25 customers   
  • Accuracy generally in the 90% to 96% range       
  • Rapidly deployed in PoC or in full production                     
  • Instantly deployable industry specific modules         
  • Multi-channel deployment (web, phone, app, WhatsApp, email, twitter, voice, etc)
  • 11+ industry awards in 3 years – US, UK, India. Over 80 languages supported.  Marquee clients include NESTLE, State Bank of India (card division) , PwC, EY, HDFC Insurance, airtel.

 

Why did you choose FinTech Connect?

Many banks, insurers and financial services companies, as well as industry colleagues will be present.

 

Do you have customers yet? If not, how far into your business lifecycle are you?

We have over 60 deployments for 25 enterprise size clients, well into a positive revenue cycle for over 2 years. Over 60 million queries per month.

 

How have you funded your growth to date?

Yes one small friends and family round earlier last year.

 

What's your 'origin story'?

Human intensive interactions and tasks are slowing down enterprise responsiveness and scalability globally. 60+ percent of these interactions are repetitive and hence can be automated. At the same time, computer skills of general populace is deficient. According to Nielsen Norman Group’s study across 33 rich countries, only 5% of the population has high computer-related abilities, and only a third of people can complete medium-complexity tasks. Time is ripe to address both the above problems. Senseforth was founded to address these twin challenges by creating intelligent assistants for various use cases that can be interacted with natural language inputs.

 

Where and how do you differentiate yourselves against the growing FinTech start-up demographic?

 

1. Senseforth is a Conversational AI platform that can be deployed completely on-premise (or on private cloud). This is essential for a lot of financial organizations and significantly reduces the time taken for InfoSec approvals (e.g GDPR, PCI-DSS) and other integration or information concerns. Of course we can also deploy on cloud or hybrid environments as well.

2. Senseforth has pre-built Industry AI models. These models are in-depth with thousands of intents.

3. Senseforth has built and launched more than 60 Enterprise bots, with majority of them being in the BFSI space. No other platform has as many enterprise deployments. This gives us the advantage of delivering the highest accuracy in the space/domain compared to generic platforms which are mostly used for simple use cases like 1-800 Flowers or Pizza delivery bots.

4. Senseforth has one of the largest Conversational AI Bot stores for enterprises with pre-built bots for various use cases like Lead Generation, Product Advisory, Customer Service, Knowledge management, IT Support, HR , MIS Reporting, etc. This significantly reduces the implementation time compared to generic platforms where customer/implementation partner has to start from ground level.

5. Senseforth has several pre-built connectors required to integrate the bots into the enterprises. These include connectors for backend systems like CRM, HR, IT Ticketing etc., Email systems, Insurance backend systems, banking systems etc. 

6. Senseforth bots are wrapped into familiar and pre-approved architectural units e.g. J2EE application, making it easier for the Enterprises to manage and integrate. All the complexity of ML and AI are abstracted away.

7. Senseforth has been benchmarked on NLP capabilities with most of the other platforms and we have delivered significantly higher accuracy. We can demo this if required. 8.     Senseforth bots are omni-channel. So you can build once and launch on any channel of choice i.e. Website, Mobile, Social (Messenger, twitter), collaboration (Hangout, Slack, Yammer, Skype) and even Voice channels like Google Assistant and Alexa. There is no tie-in to any platform.

 

What's been your greatest challenge in growth to date?

Our biggest challenge is to educate prospects and increase awareness in the market with the enormous possibilities of Conversational AI. Being in the emerging technology sphere, many enterprises may not yet see the opportunity to create the next digital channel in the post-mobile era. We typically try to address this with proven case studies.

 

What is your advice to people seeking to kickstart their own business?

  1. Achieve Product - Market Fit as early as possible
  2. Continuously fine-tune the product offering
  3. Keep your eyes open for market adjacencies of your product

 

Who do you admire most as a business (in or outside of the start-up world)?

Apple, Google and Amazon

What are your predictions for the next 18 months in FinTech?

  1. Expand into US, UK, SA and OZ markets.
  2. Create a Global Brand                            
  3. Raise Series A investment

 

What are your goals for the next 18 months?

  1. Expand into US, UK, SA and OZ markets.
  2. Create a Global Brand
  3. Raise Series A investment

 

What is your greatest achievement as business thus far?

Created a best-in-class Conversational AI platform and acquired 25 Enterprise Customers. We have also turned profitable and cash-flow positive.

 

Why should our community come and meet you at the show?

See how we can help increase revenue, reduce costs and enhance operational efficiency using Conversational AI. 

 

 

Register for FinTech Connect on 3–4 December at ExCeL, London.

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