A robot to manage your personal finances

Max, Nestor, Bruno, Sqirl or Grisbee. It is not the name of your future four-legged companion, but that of a friend of a different kind : a robot. More specifically, an artificial intelligence performing the duties of coach financial. These “apps” want to make a place in your smartphone next to your social networks and your daily in the evening preferred.

Their goal : to help you better manage your personal finances. It can be control your budget and to avoid overdraft, put some money aside, or even to offer you investments, insurance or other services (tax advice, etc).

It all starts with the analysis of your situation by the robot. This is called the aggregation account. The technique is not new : Linxo and Bankin’the offer since more than seven years. Concretely, it is sufficient to enter the id and password of each of your stores in the app. Then, the aggregator connects directly to your accounts to give you a vision of the whole.

A single glance is sufficient to see the balance and the latest transactions of your accounts together on a single page, usually adorned with graphics fun. “The entry into force of the european directive on payment services (CSP2) on January 13, 2018 oversees this practice by granting of approvals specific to the aggregators,” says Julien Maldonato, associated council for innovation at Deloitte.

Prediction of the balance of the account at the end of the month

Aggregators have gradually embarked on the coaching as they propose the prediction functions of the balance of the account at the end of the month, which allows the user to carry out a transfer if necessary to avoid the discovered. Bankin’ can even offer its clients to open a managed account in life insurance in Yomoni if it detects that too much money is sleeping on his or her current account.


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