AI in Finance: bunq Launches Chatbot for Handling User Queries

<p dir="ltr">Dutch neobank bunq has dived into the artificial intelligence (AI) frenzy by launching a generative AI chatbot named Finn. The fintech users can answer personalized queries on the users' personal finances. It can involve finance planning, better budgeting, and search for specific transactions. The AI will also help in navigating the fintech app.</p><p dir="ltr">A Neobank Offers AI Chatbot</p><p dir="ltr">“Years of AI innovation, coupled with a laser focus on our users, allowed us to completely transform banking as you know it. Seeing Generative AI make life so much easier for our users is incredibly exciting,” Ali Niknam, the Founder and CEO of bunq.</p><p dir="ltr">The <a href="https://www.financemagnates.com/trending/pros-and-cons-of-chatbots-and-is-this-trend-here-to-stay/">AI chatbot</a> is based on the open large language models from OpenAI and Meta. Users can query using natural language and can also seek advice on their bank account, spending habits, savings, and anything else related to money.</p><blockquote><p lang="en" dir="ltr">.<a href="https://twitter.com/bunq?ref_src=twsrc%5Etfw">@bunq</a> Really <a href="https://twitter.com/hashtag/Loving?src=hash&amp;ref_src=twsrc%5Etfw">#Loving</a> Your Awesome new features to aid in <a href="https://twitter.com/hashtag/Budgeting?src=hash&amp;ref_src=twsrc%5Etfw">#Budgeting</a> in the latest <a href="https://twitter.com/hashtag/Bunq24?src=hash&amp;ref_src=twsrc%5Etfw">#Bunq24</a> update. And Finn! My personal account AI. How fantastic is that! You've really put the Neo in your bank now… <a href="https://t.co/uxb2vSvDSl">https://t.co/uxb2vSvDSl</a><a href="https://t.co/YxEmJNLuij">https://t.co/YxEmJNLuij</a> <a href="https://t.co/YbIn2ZEZp5">pic.twitter.com/YbIn2ZEZp5</a></p>— Jelle van der Pal (@jmvdpal) <a href="https://twitter.com/jmvdpal/status/1737372472532418972?ref_src=twsrc%5Etfw">December 20, 2023</a></blockquote><p dir="ltr">With a valuation of EUR 1.65 billion, bunq is one of the most valued fintechs in the continent. It raised EUR 100 million earlier this year with that valuation to further accelerate its international expansion and growth. Several existing company investors participated in that funding round.</p><p dir="ltr">A Growing European Fintech</p><p dir="ltr">Established in 2012, <a href="https://www.financemagnates.com/tag/bunq/">bunq </a>is headquartered in The Netherlands and operates across Europe with a banking license obtained from the home country. It became <a href="https://www.financemagnates.com/fintech/bunq-second-largest-neobank-in-eu-reports-first-quarterly-profit/">profitable in the fourth quarter of 2022</a> by turning a gain of EUR 2.3 million.</p><p dir="ltr">According to the company, it has 11 million users across the EU and holds EUR 7 billion in deposits. It further highlighted that deposits on its platform jumped 55 percent since July 2023, the same month it closed its last funding round.</p><p dir="ltr">Earlier this year, bunq<a href="https://www.financemagnates.com/fintech/bunq-files-for-us-banking-license/"> expanded into the United States</a> by formally filing for a banking license. The neobank is additionally planning to establish its UK presence again after its first attempt was spoiled by Brexit. According to the Companies House, It had already set up a UK subsidiary, Bunq UK Ltd, last month.</p>

This article was written by Arnab Shome at www.financemagnates.com.