Intro
European fintech platforms use personalisation to offer individualised savings product recommendations, helping millions to manage their money better while driving broader economic participation and growth.
The Challenge
Traditional banking offers one-size-fits-all financial products that often fail to meet diverse customer needs. Many Europeans, particularly younger demographics and those with limited financial knowledge, may struggle to find appropriate savings accounts, or financial services, leading to poor financial outcomes and reduced economic participation.
Sources:https://www.singular.net/blog/top-finance-apps/
https://cfps.co/insights/saving-tips/best-budgeting-apps-for-europeans-in-2023/
https://inveritasoft.com/article-top-16-fintech-apps-you-should-check-out
The Solution
AI-powered personalisation can analyse individual spending patterns, income flows, and financial behaviour to deliver customised recommendations. Users receive personalised suggestions for savings products based on their cash flow patterns, and budgeting insights tailored to their lifestyle. Systems use machine learning to adapt recommendations as users' financial situations evolve.
Why This Matters
This personalised approach drives significant financial inclusion and economic growth. Personalised budgeting insights help users optimise spending, increasing disposable income that flows back into the European economy.
