Metro Bank Announces New AI Powered PFM Service

Metro Bank today revealed the launch of a new AI- powered money management tool called Insights.

The tool will continuously monitor users’ transactions in real-time to better understand clients’ spending habits. Insights will then turn the information into tips and advice for their customers, including instructions on avoiding unnecessary charges. Insights was developed with AI chat box firm Personetics.

Metro Bank CEO Craig Donaldson told Finextra:

We’ve all been there when you forget to cancel a free trial and end up accidentally subscribing for another month, or you leave a cafe only to realize you’ve mistakenly been charged twice for the same cup of coffee. Insights is about being on the front foot; cutting through the noise to provide relevant and timely tips that make a real difference to customers.

The service is scheduled to be released this summer. Metro Bank launched in 2010 in the U.K. It has a total of £16,355.4 million ($23,387.49 million) assets under management as of Dec. 31, 2017. 

Read more at Finextra and PR Newswire.