Visa will soon begin piloting an AI Financial Assistant that financial institutions will be able to add to their banking apps to offer artificial intelligence-p...
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Visa plans to begin piloting an AI-powered financial assistant that banks can embed in their mobile apps, the company said Tuesday. The service, called AI Financial Assistant, will let cardholders ask natural-language questions about their spending, lock a card, or set alerts – all within the conversation. The assistant will also generate monthly spending insights drawn from the cardholder's own transaction history.
Financial institutions can connect their own FAQ documents to the assistant, allowing it to answer questions about loan benefits or savings products. Visa will make the feature available to U.S. banks for a pilot in August, with a global rollout planned after that, the company said.
Michele Herron, Visa's senior vice president and head of North America value-added services, said the tool combines personalized data with the ability to act. “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,” she said in the release. “By simply turning on this service, banks can strengthen relationships with their customers and transform from a passive ledger to a generative AI-enabled financial hub.”
The push comes as younger consumers warm to AI for financial planning. A PYMNTS Intelligence report found that 62% of Gen Z consumers are open to using AI for “what if” scenarios. The same report said Gen Z users increasingly expect real-time, personalized recommendations after getting quick answers from models like ChatGPT, Gemini and Claude.
Visa said the assistant will operate within each bank's secure environment and carry the bank's own branding. The pilot is set to begin next month.
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