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How a chatbot can help you save money

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Thomas Park
Nov 05, 2016 17:00
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While most people want to save more, the vast majority have a hard time putting money aside to meet their own savings goals.

In fact, a recent survey found that as many as 63 percent of Americans are unable to set aside enough money at least $1,000 to cover unexpected or emergency expenses.But there is no need to panic if your account balance isn t exactly where you hoped it would be.

You can now get help from an unexpected source — AI-powered bots provided by your bank.

If you walk into a bank branch and ask how you can adjust your spending habits to save more, chances are you ll get blank stares in return.

Eventually, you may be offered an opportunity to meet with a financial adviser who can help you build an investment portfolio.With the vast amounts of your personal data being collected and stored by your bank — including balances, transactions, and payments — you d think your bank would be able to offer you better and more customized guidance along your path to financial success.

But meeting your financial goals is more about changing behavior — your personal spending and savings patterns — than it is about picking stock and bonds.

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Thomas Park
Nov 05, 2016 17:00
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