Aurionpro acquires Arya.ai to boost AI usage in global financial firms

Aurionpro Solutions has announced the acquisition of Mumbai-based Banking and Insurance focused PaaS startup, Arya.ai. The acquisition, valued at approximately $16.5 million, sees Aurionpro Solutions acquiring a majority stake (67%) in Arya.ai.

This acquisition is poised to significantly enhance Aurionpro's portfolio, allowing it to expedite the adoption of AI solutions tailored for the evolving demands of Banks and Insurers globally. Arya.ai's expertise in Artificial Intelligence, Deep Learning, Intelligent Automation, and PaaS will complement Aurionpro's existing suite of offerings, aiming to create an industry-leading Enterprise AI platform.

Arya.ai, founded in 2013 by Vinay Kumar and Deekshith Marla from IIT Bombay, has been at the forefront of leveraging Deep Learning technologies in enterprise environments. Their offerings for the BFSI sector include Arya API, Libra, and AryaXAI, providing a comprehensive suite of ML models and governance tools tailored for Banking and Insurance institutions.

Vinay Kumar, CEO/Founder of Arya.ai, emphasized the challenge of making AI acceptable and scalable in the highly regulated financial industry. He highlighted Arya.ai's decade-long experience in building tools/platforms for deep learning, enabling the development of a verticalized AI Operating System tailored for Banking and Insurance.

Ashish Rai, CEO of Aurionpro Solutions, expressed excitement about the acquisition, citing the alignment of Arya.ai's mature Enterprise AI platform with Aurionpro's domain expertise. He emphasized the goal of building a highly differentiated Enterprise AI platform, focused on delivering true business value to financial institutions worldwide.

The acquisition marks a significant milestone in the industry's evolution towards AI-driven solutions tailored for the unique challenges of the financial sector. With the combined expertise of Aurionpro Solutions and Arya.ai, the stage is set for the development of cutting-edge AI solutions that redefine the landscape of financial services.