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Aurionpro acquires Arya.ai to offer AI solutions for Banks, FIs & Insurers globally

By Gloria Mathias

April 19, 2024

  • AI
  • Artificial Intelligence
  • Arya.ai
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Aurionpro, Arya.ai, Fintech news, Fintech solutions, Fintech Acquisition, Insurance, Fintech, Banks, AI, Artificial Intelligence, Fintech India, Aurionpro has announced the acquisition of India-based banking and insurance-focused PaaS startup Arya.ai.

With Arya.ai, Aurionpro will enhance its portfolio of enterprise FinTech offerings to expedite the adoption of AI that is responsible, accurate, and auditable, aligning strongly with the rapidly evolving demands of banks and insurers.

Under the terms of the agreement, Aurionpro will acquire a majority stake (67%) in Arya.ai. This acquisition will bring products and expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, PaaS, autonomous AI platforms, and tailored industry solutions.

The transaction comprises the acquisition of shares held by the existing shareholders and the subscription of new equity capital in the company. This will be an all-cash deal. The aggregate investment, including secondary acquisitions and fund infusion is approximately $16.5 million.

By integrating Arya.ai’s AI cloud platform, with Aurionpro’s comprehensive suite of offerings, the company intends to create an Enterprise AI platform sharply focused on creating value for financial institutions globally.

Ashish Rai, CEO of Aurionpro Solutions, stated, “The acquisition of Arya.ai brings together Aurionpro’s portfolio of industry leading enterprise software with one of the most mature Enterprise AI platforms focused on the needs of banks and insurers. It also brings together probably the most talented enterprise-focused AI/ML team in Asia with Aurionpro’s deep domain expertise and strengths to build highly differentiated Enterprise software.”

“Making AI acceptable and scalable in the financial industry is extremely different and hard. It is relatively easy to use a new AI technique like MLPs or self-supervised learning systems and deploy the model. But to make it acceptable in a highly regulated industry like Banking or Insurance, it needs to be stable, reliable, explainable, auditable, compliant, and safe to use.” said Vinay Kumar CEO/Founder of Arya.ai. “Together with Aurionpro, we are going to build a new generation of Enterprise AI software for Banks and Insurers that truly embed AI, augmenting a task or Autonomous Agents that can take over entire transactions”.

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