bunq first bank in Europe to leverage AI in open banking
Utilizing Mastercard’s Open Banking platform, bunq provides comprehensive spending insights from multiple bank accounts directly within the bunq app, advancing open banking in Europe.
bunq, Europe’s second-largest neobank, has partnered with Mastercard to enhance financial management for its 12.5 million users across the continent. Utilizing Mastercard’s Open Banking platform, bunq provides comprehensive spending insights from multiple bank accounts directly within the bunq app, advancing open banking in Europe.
This integration allows bunq users to budget more effectively and plan their finances with ease. bunq’s AI money assistant, Finn, further enriches these insights by integrating transaction data from various banks. For instance, users can ask Finn for an overview of their travel expenses over the past year, and it will include transactions from both bunq and external banks, making bunq the first European bank to use AI in open banking.
Since launching these features, nearly 40% of surveyed users reported a significant increase in app usage within two weeks. With many Europeans managing multiple bank accounts, bunq’s new features simplify this process, promoting the adoption of open banking.
“Our users live life without borders, effortlessly blending home, work, and travel,” said Bianca Zwart, Chief of Staff at bunq. “We’ve built the bunq app around their lifestyle, and this partnership takes it even further. By combining Mastercard Open Banking with bunq’s AI platform, the possibilities to enhance their experience are endless.”
Bart Willaert, EVP of International Open Banking at Mastercard, added, “We’re pleased to support a leading neobank like bunq, showcasing how open banking and AI can deliver an excellent user experience. This collaboration highlights our strong platform and reach across Europe and the potential for scaling on our global open banking network.”
Open banking features for bunq users are available in the Netherlands, France, and Germany, with plans to expand across Europe.
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