bunq, the second largest neobank in Europe, has embarked on a significant enhancement of its AI-powered user assistant, Finn, transforming it into a fully conversational AI.
This development was announced alongside the introduction of a novel worldwide travel insurance, executed in partnership with Qover, a leader in global embedded insurance. These initiatives come as bunq experiences a surge in growth, with its user base now exceeding 12.5 million and deposits topping €8bn.
The upgrade of Finn represents a leap forward for AI in banking. Following a successful beta phase where Finn responded to over 100,000 queries, the assistant now boasts the capability to handle consecutive inquiries and delve deeper into financial insights, offering responses at double the previous speed. Finn’s enhancements include a natural language processing ability that not only allows it to conduct seamless conversations but also remembers previous interactions, making it a personalized extension of the bunq app.
bunq founder and CEO Ali Niknam 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.”
In addition to improving customer support through AI, where Finn independently resolves up to 40% of user inquiries and assists with another 35%, bunq is redefining the user experience, making it more intuitive and helpful.
The expansion into travel insurance marks a significant stride in bunq’s mission to cater comprehensively to the needs of digital nomads across the globe. As international travel approaches pre-pandemic levels, with nearly 1.3 billion trips in 2023, bunq’s travel insurance simplifies the traditionally cumbersome process of securing travel coverage. With a one-time activation on the Easy Bank Pro XL plan, users gain automatic worldwide coverage for all future trips, encompassing car rental, dental, and personal item loss up to €1m.
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