Douugh, a fintech banking challenger founded on an Artificial Intelligence (AI) first approach to enabling financial wellness, is introducing an AI-powered financial platform guided by Sophie - a 24/7 personal assistant for finances.
"We are proud to launch our vision of enabling financial wellness via a next generation Over-The-Top (OTT) Application approach to banking,” said Andy Taylor, Founder and CEO of Douugh. “We believe the future of banking is about platform, data and identity. The current societal banking model is simply failing to proactively educate people about money management, partly due to the ongoing operation of a legacy business model designed to keep people in a debt cycle,” Taylor goes on to say. “Our mission is to elevate the latest technology to break the cycle.”
Sophie’s role is to empower users to make the best financial decisions based on their unique situations, by offering:
● An intuitive and personalized experience that helps manage their money and fastracks them to financial freedom.
● Through the connection of a user's existing bank accounts and credit cards, Sophie will collate, organize and inform on spending habits all in the one place.
● Then, coach and guide to make sense of current financial status, and take users to where they want to be financially.
● Sophie will also provide deep insight that’s dedicated to keeping people financially fit and healthy with the necessary context.
● Users can also use Sophie as their very own personal banker to perform transactional tasks - like paying and splitting bills, requesting money, automatically saving, tracking and management of spending and savings goals, all through Douugh’s own checking account and debit card product.
● Sophie will also be made accessible via Alexa and Siri, allowing for voice activation on the move.
As the unbundling of banking services continues to be accelerated by financial startups, Taylor foresees Douugh’s role to become a ubiquitous financial control center for users, embracing and working with best of breed partners to deliver complementary services that are connected into Sophie. Some will be integrated directly within the Douugh App, others through an API product called “Douugh Connect,” which will enhance Sophie’s power to coach, manage and execute in a more cohesive and intuitive way, on autopilot or as-needed.
Douugh is now accepting beta pilot registrations, which will be rolled out on an invitation-only basis. Interested consumers should visit us to request access and become part of the foundation community that will help shape its services moving forward.