Mihup and Qualcomm Partner to Launch On-Device Multilingual Voice AI Solution for the BFSI Sector

Indian Voice AI innovator Mihup has announced a strategic partnership with Qualcomm Technologies to develop an enterprise-grade, multilingual Voice AI solution tailored specifically for the Banking, Financial Services, and Insurance (BFSI) sector.

The collaboration aims to shift AI processing from the cloud to on-device platforms, enabling faster, more secure, and cost-efficient voice-driven customer interactions—particularly in linguistically diverse markets such as India.

Transforming BFSI with On-Device AI

The BFSI industry increasingly relies on conversational AI for customer support, sales assistance, fraud detection, collections, and financial advisory services. However, traditional cloud-based AI systems often face challenges such as latency, high operational costs, bandwidth limitations, and data privacy concerns.

The Mihup–Qualcomm partnership addresses these issues by moving core AI workloads directly onto devices powered by Qualcomm’s Neural Processing Units (NPUs).

Why On-Device AI Matters

Processing AI tasks locally rather than in the cloud offers several advantages:

Low Latency: Real-time responses without cloud round trips

Enhanced Privacy: Sensitive financial data remains closer to the source

Improved Reliability: Consistent performance even in low-connectivity environments

Regulatory Compliance: Better alignment with data sovereignty requirements

For BFSI institutions handling large volumes of customer conversations, these improvements can significantly enhance operational efficiency and user trust.

Hybrid Architecture for Scalable Intelligence

The solution adopts a hybrid architecture that balances performance and flexibility.

Local Processing on Qualcomm NPUs

High-volume, latency-sensitive workloads—such as speech-to-text processing and real-time agent assistance—operate directly on-device. This ensures instant responsiveness during customer interactions.

Cloud for Advanced Analytics

More complex tasks, including deeper analytics or large-scale data modeling, can still leverage cloud infrastructure when necessary. This hybrid approach allows enterprises to maintain scalability while reducing dependency on centralized systems.

Cost Efficiency and Infrastructure Optimization

One of the most compelling aspects of the partnership is its cost advantage. According to Mihup’s internal analysis, migrating speech workloads to on-device AI platforms can reduce total cost of ownership by up to 78%, depending on deployment scale and usage patterns.

By minimizing cloud reliance:

Recurring infrastructure costs decrease

Bandwidth consumption is optimized

Data transfer expenses are reduced

For cost-sensitive markets and high-volume BFSI operations, such savings could be transformative.

Multilingual Voice AI Built for India

India’s linguistic diversity presents a unique challenge for conversational AI systems. Mihup’s proprietary voice stack is engineered specifically for vernacular languages and real-world conversational patterns.

The solution supports multilingual customer engagement across:

Customer service interactions

Sales conversations

Loan collections

Financial advisory services

By enabling real-time conversational intelligence in multiple languages, the system enhances accessibility and supports financial inclusion initiatives.

Initial deployments in India will serve as validation for the on-device AI model at scale, with plans to expand into other developing markets and regulated industries.

Leadership Perspectives on the Partnership

Tapan Barman, CEO, Mihup

Tapan Barman emphasized the company’s mission to bridge the gap between humans and machines through seamless voice-first experiences. He highlighted that combining Qualcomm’s NPU capabilities with Mihup’s optimized voice stack eliminates recurring infrastructure costs while ensuring data sovereignty directly at the silicon level.

According to Barman, the partnership represents a transition from conceptual vision to production-ready deployment—delivering secure, instant, and scalable Voice AI solutions for frontline operations in India.

Savi Soin, Senior Vice President and India President, Qualcomm Technologies

Savi Soin noted that in a linguistically diverse and voice-driven market like India, BFSI institutions require secure and scalable AI solutions to improve efficiency and expand financial inclusion.

He stated that running Mihup’s vernacular Voice AI directly on Qualcomm’s on-device AI platforms enables high-performance, secure conversational intelligence—bringing advanced capabilities closer to end users while supporting global scalability.

Implications for the BFSI Sector

The partnership signals a broader shift toward edge AI adoption in regulated industries. By integrating on-device intelligence:

Banks can enhance customer service responsiveness

Insurance providers can streamline claims processing

Financial institutions can deploy secure conversational systems at scale

Furthermore, the focus on data sovereignty and reduced cloud dependence aligns with evolving regulatory frameworks that prioritize localized data handling.

The Future of Enterprise Voice AI

As enterprises increasingly adopt AI-driven customer engagement tools, the transition from cloud-heavy architectures to hybrid and on-device models is expected to accelerate.

The Mihup–Qualcomm collaboration demonstrates how hardware-level AI acceleration combined with domain-specific voice intelligence can deliver tangible business benefits—including lower costs, improved security, and multilingual accessibility.

In a rapidly digitizing BFSI landscape, on-device multilingual Voice AI may become a foundational technology for enhancing customer trust, operational efficiency, and financial inclusion across emerging and global markets.