Fintech
bunq makes its GenAI Finn assistant completely conversational
bunq, the second largest neobank in Europe, has taken a significant step to upgrade its GenAI assistant aimed at Finn users to be fully conversational. The challenger has also launched its one-time activation travel insurance worldwide, in partnership with Qover, a global integrated insurance provider. Both announcements come against a backdrop of strong growth, as the neobank’s total user base exceeds 12.5 million and its deposits rise to over €8 billion.
Pushing further into artificial intelligence
After the successful beta launch of its AI Financial Assistant, Finn, bunq continues to advance the industry by pioneering Europe’s first AI-powered banking experience. Finn, which has already answered over 100,000 questions since December 2023, can now answer consecutive questions and provide deeper insights into users’ finances at double the speed.
Finn will answer users’ questions regarding their bank accounts and spending habits, as well as recommended places to visit in new cities including cafes, restaurants and bars, based on reviews from other bunq users. The update also unlocks conversational features that set Finn apart from other chatbots. In addition to engaging in natural conversations and storing the history of users’ interactions with Finn, the AI assistant will act as an extension of the bunq app, providing personalized, context-rich responses.
“At bunq, we use the latest technology to make our users’ lives easier,” says Ali Niknam, founder and CEO of bunq. “We’re thrilled to see so many of our users embracing Finn into their daily lives and can’t wait for them to have a chat with the all-new Finn.”
In addition to effectively replacing the search function in the app, bunq uses artificial intelligence to handle users’ support questions. To date, Finn independently resolves up to 40% of user support questions and provides support to 75% every day, helping users address any issues they may have while using bunq.
Expanding into travel insurance and beyond
bunq’s expansion into travel insurance marks the next step in its mission to build a full-service neobank for digital nomads around the world.
International travel is booming, approaching pre-pandemic levels with just under 1.3 billion trips in 2023. Designed to address the challenges travelers face when repurchasing travel insurance for each trip, bunq now offers a Automatic worldwide coverage for anyone using Easy Bank Pro Plan XL. Users simply activate the feature once and enjoy coverage for all future trips. Claims can be submitted directly in the app, via the Qover link. Unlike many other travel insurance products, bunq travel insurance will cover car rental, dental care and loss of personal items up to 1 million euros.
“We are simplifying travel insurance. It’s exactly the peace of mind we want our users to have, whether they spend, save or travel with bunq,” Niknam says.
Both announcements were revealed at the bunq Update 25 event, along with a number of other features designed to improve the user experience.