New Dutch bank bunq has thrown its weight behind the artificial intelligence (AI) craze, launching a generative AI chatbot called Finn that can answer personalized questions about a user's personal finances.。Finn covers financial planning, better budgeting and transaction-specific search, and will also help users navigate fintech apps。

A new bank offers AI chatbots

"Years of AI innovation, coupled with a high focus on users, have allowed us to revolutionize banking as we know it."。Ali Niknam, founder and CEO of bunq, said, "We are incredibly excited to see how generative AI can make life so convenient for our users.。"

Open large-scale language model based on OpenAI and Meta for artificial intelligence chatbots。Users can use natural language to make queries, as well as seek advice on their bank accounts, spending habits, savings, and any other money-related issues。

Bunq is valued at 16.€500 million, one of the highest valued fintech companies in continental Europe。Earlier this year, it raised €100m at that valuation to further accelerate international expansion and growth, with several of the company's existing investors also participating in the round.。

Growing European Fintech Companies

Bunq was founded in 2012 and is headquartered in the Netherlands, with operations across Europe and a banking license issued in the country.。In the fourth quarter of 2022, the company turned a profit, with revenue of 2.3 million euros.。

According to the company, it has 11 million users in the EU with a total deposit of 7 billion euros.。The company further highlighted that deposits on its platform have soared by 55% since July 2023, while in the same month the company completed its last funding round.。

earlier this year, bunq formally applied for a banking license to enter the us market。In addition, the new bank is planning another foray into the UK after its first attempt was ruined by Brexit。According to the Companies Registry, the company had set up a UK subsidiary, Bunq UK Ltd, last month.。