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Airwallex harnesses generative AI to improve customer onboarding

The new AI tool is the first of a series Airwallex plans to roll out to improve customer experience 

Xijing Dai, Airwallex Co-founder & CTO 01 (1)

Jacob Dai/Airwallex

Airwallex has boosted its customer onboarding experience with the first of several AI tools the company plans to roll out.

The new generative AI tool accelerates the company’s Know Your Customer (KYC) assessment, helping users onboard more quickly and reducing ‘false-positive’ alerts by 50 per cent on average.

Airwallex co-founder and chief technology officer Jacob Dai said they are honing their KYC tools to be “much more accurate and context aware” with generative AI.

“We’re making it faster and easier for our customers to get up and running with Airwallex – often within minutes – while enhancing our ability to detect and prevent fraud on our platform,” Dai said. 

“These enhancements translate directly to our customers – they can unlock the value of our platform more readily and accelerate their own global growth.” 

According to Airwallex, the tool is attuned to the nuances and sensitivities of varying languages and cultures, which is key given the company’s global reach.

 “We work with businesses from incredibly diverse industries and cultural settings,” Dai saidi.

“Having an intelligent AI co-pilot, trained on vast amounts of linguistic data, helps us navigate those intricacies more quickly and effectively.”

The company says it is building a series of features to enhance user experience using both generative AI and Natural Language Processing (NLP) to provide tailored services and quick access to data.

“There are many applications to explore, and we’re just getting started,” Dai said.

Airwallex said it expects to launch further AI-powered functionalities next year.

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