NatWest trials new personal finance app Mimo
NatWest has announced it will trial Mimo, an app that uses open banking APIs, artificial intelligence (AI) and data analytics to give customers financial insights, reports Jane Connolly.
To help customers budget and remember admin tasks
Following a test run with 50 NatWest staff members, Mimo will now be offered to a limited number of the bank’s customers in a voluntary trial.
Mimo stands for ‘money in, money out’ and is designed to help customers budget and remember admin tasks, such as paying bills.
The app will also watch users’ day-to-day spending to provide insights and take proactive money-saving action, on things like insurance, subscriptions and utilities.
Calvin O’Brien, Mimo lead, says: “Our aim for Mimo is that will help customers have a better overview of their financial life and help them achieve their financial goals from the ease of their own phone.”
NatWest plans a general rollout of the technology towards the end of 2019.
