Bank of Georgia launches AI-powered personal finance tool
Bank of Georgia has launched a new retail banking solution which it claims it powered by artificial intelligence (AI) to help provide customers with a tailored digital experience.
MBank, underpinned by technology company Strands, will feature smart personal finance management to help users track their spending and categorise their finances, income, and expenses.
“Putting personal finance management at the heart of digital banking gives way to smart, personalised recommendations and advice,” says Bank of Georgia CEO Archil Gachechiladze.
“Our new PFM, will greatly simplify financial management for our clients, and it will help them make the right financial decisions.”
Bank of Georgia is a UK-incorporated holding company which carries out retail banking, payment services, and corporate investment banking operations in Georgia, as well as banking operations in Belarus.
In 2017 the bank and its holding group started a demerger process to form Bank of Georgia, which focuses on retail banking, and Georgia Capital, which prioritises investment. It was completed in May 2018.
The bank has a network of 271 branches and 886 ATMs across its markets.
“With this partnership, Bank of Georgia has showcased once again its innovative, customer-centric approach to banking,” says Erik Brieva, CEO at Strands.
“This is the first time that a financial institution in the Caucasus region launches an AI-powered money management solution.”
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