bunq unveils Finn, a GenAI platform to enhance user-centric banking
By Delisha Fernandes
Bunq, a neobank in Europe, has announced the launch of Finn, a GenAI platform to redefines user-centric banking.
The launch of Finn will effectively replace the search function on the app, and will enable bunq users to plan their finances, better budget, navigate the app, easily find transactions and much more.
Finn is bunq’s own technology, using the most powerful LLMs. “Finn will wow you,” said Ali Niknam, founder and CEO of bunq. “Years of AI innovation, coupled with laser focus on our users, allowed us to completely transform banking as you know it. Seeing Generative AI make life so much easier for our users is incredibly exciting.”
Finn will be familiar to anyone who’s ever 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 else related to money.
Finn gives answers to advanced questions like “What is the average amount I spend on groceries per month?” or “How much did I spend on Amazon this year?”. It can even combine data to answer questions that go beyond transactions, such as “What was that Indian place I went to with a friend in London?”, or “How much did I spend at the cafe near Central Park last Saturday?”
bunq has also introduced new features that will help digital nomads and international businesses easily manage their 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.
bunq also announced it hit 11 million users across the EU and grew its user deposits by 55% since July 2023, now at 7 billion euros. bunq’s successful use of AI has played a significant role in the challenger’s rapid expansion across Europe.
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