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Finance

Russian bank launches AI-based financial assistant named after Warren Buffet

by Chuck Martin
Article ImageBuffet the chatbot is supported by five messaging platforms

TalkBank, Russia’s first ’in-messenger’ virtual bank – with no offices or mobile apps – has launched an AI-powered virtual assistant, named after famed investor and business tycoon Warren Buffet.

Buffet, the assistant, integrates into customers’ messenger apps to coach them on how to better handle their personal finances.

The future of banking?

Buffet gains access to client activities via the TalkBank platform and then applies artificial intelligence models to analyze spending patterns, coming up with recommendations on ways to spend smarter and increase savings.

The bot is available via Facebook Messenger, WhatsApp, Viber, VK and Telegram and is able to answer questions posed in natural language.

Buffet’s features include the ability to calculate monthly income and expenses, provide current information on exchange rates, remind about loan payments and help with planning a budget, setting financial goals or obtaining optimal travel insurance.

As is typical with AI-based software, Buffet is able to learn as customers interact with it.

The chatbot can be activated by contacting TalkBank in one of the five supported platforms by sending the message “hi.”

Internal operations at TalkBank are also carried out with the help of AI systems, by chatbots that help customers apply for, and receive, bank cards, and transfer money online.

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