bunq Introduces Its Generative AI-driven Platform Finn

bunq introduces its GenAI platform, making it Europe’s pioneering AI-powered bank. The digital bank bunq has introduced Finn, a generative-AI chatbot, aimed at automating a significant portion, approximately 90%, of its operations. This rollout occurred on December 20, signaling the bank’s ambitious plans to leverage AI for operational efficiency throughout the coming year. Finn is now accessible to all users, marking a significant step toward automating bunq’s operations.

bunq, Europe’s second-largest neobank, made a groundbreaking move by launching Finn, a revolutionary GenAI platform available to all its users. This innovative platform, powered by the most advanced Language Learning Models (LLMs), reshapes user-centric banking, allowing individuals to streamline their financial lives through the bunq app.

Ali Niknam, bunq’s founder and CEO, expressed excitement about Finn’s potential, emphasizing the years of AI innovation dedicated to transforming traditional banking. Finn operates akin to OpenAI’s ChatGPT, offering a chat-style interface for users to seek advice, manage budgets, track spending habits, and access insightful financial information effortlessly. It responds to complex inquiries like expenditure analysis and even recalls specific past transactions, making financial management intuitive and user-friendly.

This momentous announcement at bunq Update 24 showcased the bank’s remarkable growth, boasting 11 million users and a staggering 55% increase in user deposits since July 2023, totaling 7 billion euros. AI’s pivotal role in this rapid expansion reflects bunq’s success in leveraging technology for widespread European expansion.

Moreover, bunq introduced new features during the event aimed at aiding digital nomads and international businesses. These include the launch of free credit cards, easily accessible within minutes and compatible with Apple or Google Pay. Additionally, Apple’s Tap to Pay functionality allows Business users to transform their iPhones into portable payment terminals, extending this capability to all bunq users.

Source: Bund News