Subscribe
|
|
|
|
|
|
|
News

bunq becomes an AI-powered bank as it launches Finn

Wednesday 20 December 2023 15:12 CET | News

Netherlands-based neobank, bunq, has launched Finn, a GenAI-driven platform that aims to reshape user-centric banking and is available to all users.  

 

Replacing the search function on the app, Finn will enable bunq users to plan their finances, better budget, navigate the app, find transactions, and more.  


According to the official announcement, Finn is bunq’s own technology, using LLMs. Finn should be familiar to anyone who has used OpenAI’s ChatGPT. It has a chat-style text box where users can ask questions or seek advice about their bank account, spending habits, saving, and anything related to money.

Netherlands-based neobank, bunq, has launched Finn, a GenAI-driven platform that aims to reshape user-centric banking and is available to all users.

Moreover, Finn addresses inquiries, providing users insights into metrics like the average monthly expenditure on groceries or the total expenditure on Amazon throughout the year. It can also combine data, facilitating responses to queries that extend beyond transactional details, such as recalling specific experiences or detailing expenses incurred at a given time. 

Reportedly, bunq also hit 11 million users across the EU and grew its user deposits by 55% since July 2023, now at 7 billion euros. bunq’s use of AI has played a significant role in the challenger’s expansion across Europe. 

bunq introduces new features to help manage finances 

  • Free credit cards: bunq launches free credit cards for everyone – ready in just 5 minutes and instantly usable through Apple or Google Pay.  

  • Tap to Pay: with Apple’s Tap to Pay, every business user can now turn their iPhone into a payment terminal and accept payments on the go. All bunq users get free access to this functionality.

More about bunq 

In July 2023, bunq announced it secured an additional EUR 44.5 million in growth capital, bringing the total capital received in 2023 to almost EUR 100 million. The capital was set to enable the mobile bank to further expedite its international expansion and continue its rapid growth. The investors, namely Ali Niknam, Pollen Street Capital, and Raymond Kasiman joined the funding round and committed to an investment valuation of EUR 1.65 billion. Per the announcement information, the receipt of the growth capital follows a year where bunq reached 9 million users across Europe and doubled its user deposits in a four-month timeframe, with the deposits exceeding EUR 4.5 billion.  

In April 2023, bunq filed an application for a US banking licence with the FDIC in the state of New York. An expansion to the US was set to help bunq grow more quickly after years of investing in its software and operations.

Source: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: artificial intelligence, product launch, neobanks, banking, generative AI
Categories: Banking & Fintech
Companies: bunq
Countries: Europe
This article is part of category

Banking & Fintech

::: more

bunq

|
Discover all the Company news on bunq and other articles related to bunq in The Paypers News, Reports, and insights on the payments and fintech industry:





Free Headlines ::: subscribe now
RSS ::: follow ThePaypers via RSS ::: connect
LinkedIn ::: connect with ThePaypers on LinkedIn ::: connect
Twitter ::: follow ThePaypers on Twitter ::: follow
Facebook ::: like ThePaypers on Facebook ::: like