Having a hard time keeping tabs on your financial activities? Well, check out this AI-powered tool that acts like a financial advisor right in your pocket.
The Bank of the Philippine Islands recently rolled out its first-in-the-industry feature on the new BPI app. Called Track and Plan, this tool utilizes AI to track and analyze your financial activities on the BPI app, share insights on your spending habits, and even offer suggestions for smarter financial investments.
You may have already seen it when you logged on to your BPI app. It’s the animated scrolling cards at the top of the screen. Based on your latest transactions, Track and Plan will generate insights around your cashflow and float up snippets to notify you of, say, similar withdrawals made back-to-back.
You can get the full insight with more details when you click on the notification and easily get in touch with BPI if you need to.
Another insight could be about unexpected changes in deposits from a familiar payor made to your account.
When your balance is consistently high that it sufficiently covers your average monthly expenses, Track and Plan will suggest ways you can invest and grow your extra funds.
Track and Plan can also monitor trends in your spending and alert you in case your bill was higher than your average—so you can be more mindful of your budget.
This AI-powered tool generates unique insights that only you can view, and you can rest assured about the privacy of your financial transactions. By design, Track and Plan will continue to give you new insights based on your app usage.
As AI learns from patterns or features in data, insights from Track and Plan gets better the more you use it. BPI will also be expanding its capabilities in the coming months so you will eventually have the option to turn on automatic monthly investments, schedule your most frequent transactions, and stay on top of your spending and earnings with a built-in budget tracker.
To start getting AI-powered insights, download the new BPI app if you haven’t yet—or update to the latest version.
The old BPI app is targeted to be discontinued on September 30, 2023.