Revolut, the British virtual bank platform, has introduced its AI financial assistant, AIR, to over 13 million customers in the UK. The new AI assistant helps customers manage finances through in-app chat, offering spending insights, investment tracking, subscription monitoring, and card management. It also provides travel assistance like trip budgeting and in-app Revolut eSIM purchases.
This service simplifies the digital banking experience by reducing multi-step navigation. Users can access the copilot by swiping down on the app’s landing page or navigating to Profile → Chats → AIR. Revolut assures that AIR follows a strict zero-data retention policy and accesses only the data customers already view, such as transactions, investments, and cards.
Other Fintech companies have also developed AI assistants; Klarna uses one for customer service, and Lunar manages about 75% of customer calls with its AI voice assistant. UK’s competitor, Starling Bank, launched an AI financial assistant with similar capabilities to AIR in March.
Julia Ponomareva, customer experience and AI product director, emphasized that AIR transcends traditional AI assistants, stating, “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.” This tool offers advanced financial insights while ensuring customer privacy.