How AI and Big Data will Transform Banking in 2019
Metro Bank is already doing that with Insights, an in-app money management tool that gives customers complete control of their finances. It alerts customers when there’s not enough money to cover a likely spend, recommends a top up before an automated payment is due, flags if a customer has accidentally been charged twice and alerts the customer when there has been any kind of unusual activity.
Metro Bank personalises advice with Insights
Metro Bank has gone live with Insights, an in-app money management tool, which uses artificial intelligence (AI) to generate bespoke tips and alerts.
The feature was developed with Personetics, a developer of an opt-in tool for predictive analytics of users’ spending patterns.
As well as alerts that anticipate customers’ spending, users will be able to see a breakdown of where their money goes each month, delve into individual spending categories, and receive bespoke tips about how to manage their finances, based on their specific circumstances.