Revolut just dropped the biggest change in its app to date: while every FinTech is adding AI features, Revolut just made AI the Product.
Revolut has launched a new AI assistant to help customers with money management tasks, enabling users to get instant spending insights, check investments, manage subscriptions or plan a trip all through a single in-app conversation.
Starting to roll out to customers across the UK from today, AI by Revolut (AIR) moves beyond the traditional chatbot and allows users to navigate their financial life through simple conversation.
Conversing with AIR, users can gain instant spending insights, track investments, manage subscriptions, or freeze a lost card.
Beyond daily banking, AIR helps make travel smoother, capable of tasks such as helping with trip budgets and purchasing Revolut eSIMs in-app
Julia Ponomaverva, director and general manager of CX and AI products at Revolut says: „We believe the era of navigating through endless tabs and menus is over. With AIR, we’re delivering a new level of money intelligence that’s both powerful and effortless. It’s not just an assistant; it’s a co-pilot that elevates everyday life, making financial management as easy and natural as sending a text.”
Simon Taylor, Board Member and Founder at Global Digital Finance commented: „Cash App launched something similar late last year. But previous AI attempts were frustrating customer service bots. Taking useful action is the unlock. The limitation is it can only do things the app could already do. And like all chatbots you have to remember to ask it meaningful questions. There’s a consumer behavior gap to manage. But as every company with a major design center attacks that problem consumers will get there in certain.”
He continued: „This is the first step to the future of the Neobank. Where the conversation comes first. Where everyone gets a personal finance agent. Right now it’s bolted on to an app. I expect that to invert in 5 or so years. Expect a slew of these announcements from every major fintech through the summer. The age of the personal finance agent may be finally dawning.„
Linas Beliunas, Venture Advisor at EQT Ventures stated: „On the surface, it looks like yet another AI assistant. But in reality, it quietly replaces the entire interface. Banking used to be menus. Now it’s intent. You don’t tap through tabs. You just ask.”
He added: „Most fintechs are just adding AI on top. Revolut just made AI the product. Because the next generation of apps won’t look like apps at all.„
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Many more interesting quotes in the video below:
