Metro Bank personalises advice with Insights
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.
“Life is busy at the best of times. Insights is all about using technology to make customers’ lives easier, saving them time and providing a helpful nudge when they need it the most,” says Paul Riseborough, chief commercial officer at Metro Bank.
“Whether your account needs a top-up to avoid you straying into an overdraft, you’re looking for a breakdown of how much you spent on a recent holiday or you simply want to know when you got that refund, Insights makes managing your finances straightforward.”
Insights alerts of events such as customers when there is not enough money in their account to cover likely spend; when there has been a change in the amount of money paid to a regular supplier; and flagging to customers when they have been charged twice for the same item.
The tool launches with more than 20 individual insights, with more set to be rolled out over the coming months.
Recently, Metro Bank launched its developer portal as it joins the heaving masses looking to benefit from open banking.
