RBC adds AI-powered budgeting feature to mobile app

Brandon McGee

7 years ago

“Toronto-based Royal Bank of Canada (RBC) has launched a consumer-facing app that uses artificial intelligence (AI) to analyze spending habits and make budgeting recommendations, the bank announced Thursday.

Based on data collected through the RBC mobile app’s NOMI Insights feature, NOMI Budgets makes personalized monthly budget recommendations in five areas: entertainment, shopping, cash withdrawals, transportation and dining, the bank said. It sends push notifications when a customer has reached 50%, 75% and 100% of her budget.”