bunq first to leverage AI in Open Banking with Mastercard

Mastercard has partnered with bunq to offer its 12.5 million users across Europe a complete overview of their finances.

bunq first to leverage AI in Open Banking

This  will be achieved by leveraging Mastercard’s Open Banking platform, which allows users to add accounts from any bank to their bunq app.

With this integration, bunq users can now get spending insights from all their bank accounts directly within the app, enabling them to budget more effectively and plan ahead.

Further enhancing the user experience, bunq’s AI money assistant, Finn, will enrich these insights with transaction data from multiple banks.

For instance, users can ask Finn for a complete overview of their travel expenses in the last year, and it will retrieve travel-related transactions from both bunq and any external banks.

In that way, bunq becomes the first bank in Europe to leverage AI in Open Banking.

Thanks to OB, bunq has seen a surge in user engagement, with nearly 40% of their surveyed users reporting a significant increase in their use of the app within two weeks of launch.

With more people in Europe preferring to have more than one bank account, the new features take the hassle out of managing multiple bank accounts and advance OB among user across Europe.

“We’re pleased to support a leading neobank like bunq, as they show a great example of how multiple benefits of Open Banking and AI can deliver an excellent user experience,” comments Bart Willaert, EVP, International Open Banking, Mastercard.

“This collaboration showcases our strong platform and reach across Europe and the opportunities for scaling on our global open banking network.”


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