Visa unveils AI assistant for banking apps

Visa has taken the wraps off an AI assistant that US banks can embed into their own apps to provide cardholders with financial insights, Finextra.com reports.  

Visa cites research suggesting that more than 66% of Americans who have used generative AI are turning to the technology for financial advice. Yet, consumers view banks as the most trusted institutions to safeguard personal data and 85% say they are willing to share even more data with their provider if there is a clear AI value proposition.

The AI Financial Assistant is being offered to banks as a value-added service that enables financial institutions to provide a conversational, in‑app experience for understanding spending, receiving personalised insights, and taking action from inside their existing apps.

At launch, it will proactively provide monthly spending insights, respond to natural‑language questions with answers grounded in a cardholder’s own financial activity, and let users lock a card or set alerts directly within the conversation.


Michele Herron, SVP, head, North America value-added services, Visa, says: “Consumers are already turning to AI for financial advice - but banks have the full financial picture, can act on it, and are among the most trusted institutions consumers rely on.

AI Financial Assistant brings those strengths together, combining personalized insights based on a consumer’s own data and pairing it with the ability to act, all right within their bank's app.”

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