bunq, which claims to be one of the largest neobanks in Europe, has taken a significant step forward to upgrade its user-facing AI assistant, Finn, to be fully conversational.
The challenger has also “rolled out its worldwide one-time activation travel insurance, in partnership with Qover, a global embedded insurance provider.”
Both announcements come amid strong growth, as the neobank’s total user base has reportedly “surged past 12.5 million, and its deposits climb to over €8 billion.”
After a successful beta launch of its AI money assistant, Finn, bunq continues “to push the industry forward by pioneering Europe’s first AI-driven banking experience.”
Finn, having already answered over 100,000 questions “since December 2023, can now answer back-to-back questions and provide deeper insights into users’ finances at twice the speed.”
Finn will tackle 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 by other bunq users.”
The upgrade also unlocks conversational capabilities “that set Finn apart from other chatbots.”
Besides engaging in natural conversations and “storing the history of users’ interactions with Finn, the AI assistant will serve as an extension of the bunq app, providing personalized, context-rich answers.”
Ali Niknam, founder and CEO of bunq said:
“At bunq, we use the latest tech to make our users’ lives easy. We’re thrilled to see so many of our users embrace Finn in their daily lives and can’t wait for them to have a chat with the all-new Finn. As well as effectively replacing the search function in the app, bunq uses AI to handle user support questions. As of now, Finn is independently solving up to 40% of user support questions, and assisting with 75%, every day, helping users tackle any issues they might 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 worldwide.”
International travel is booming, “nearing pre-pandemic levels with just under 1.3 billion trips in 2023.”
Designed to tackle the challenges faced “by travelers when re-purchasing travel insurance for every trip, bunq now offers automatic worldwide coverage for anyone on the Easy Bank Pro XL plan. Users simply activate the feature once and enjoy coverage for all future trips. Insurance claims can be filed right in the app, via the link to Qover.”
Unlike many other travel insurance products, bunq’s travel insurance “will cover for car rental, dental and loss of personal items for up to 1 million euros.”
Niknam added:
“We’re making travel insurance effortless. It’s exactly the peace of mind we want our users to have, whether they spend, save or travel with bunq,”
Both announcements were revealed “at the bunq Update 25 event, along with a range of other features designed to enhance the user experience.”
