Douugh Rises to Challenge with AI-Powered Banking
Banking challenger Douugh has unveiled its artificial intelligence (AI)-powered financial platform, guided by “Sophie”—a 24/7 personal assistant for finances, reports Paybefore sister publication Banking Technology.
“We believe the future of banking is about platform, data and identity,” says Andy Taylor, founder and CEO of Douugh.
Douugh plans to use Sophie to help consumers make better financial decisions by:
- Connecting a user’s existing bank accounts and credit cards, Sophie will collate, organize and inform on spending habits all in one place;
- Using Sophie as their own personal banker to perform transactional tasks—such as paying and splitting bills, requesting money, saving, tracking and management of spending and savings goals;
- Integrating with Alexa and Siri for voice activation.
Taylor foresees Douugh’s role as working with 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.
The startup is now accepting beta pilot registrations, which will be rolled out on an invitation-only basis.
Douugh was founded in early 2016 by Taylor, co-founder of Australia’s P2P lending platform, SocietyOne.