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FINANCIAL SERVICES | Staff Reporter, Hong Kong
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Clare.ai brings banking to clients' fingertips

Users can better manage finances through real-time correspondence with the virtual assistant.

Clare.ai aims to provide clients with a personal virtual financial assistant powered by natural language processing and artificial intelligence. In its conception, the team behind Clare.ai envisioned a white-label chatbot to help banks deliver customer service with higher level of control and cost efficiency. It provides a conversational solution based on machine learning algorithms and natural language processing, with over 10 Asian languages in its repertoire to date.

Clare.ai co founder Bianca Ho noted that its natural language processing engine, for example with Cantonese, remains dedicated to understanding conversations about finance, with 70% accuracy rate. "We take proprietary data from banks and take data such as call logs and emails and feed them out to bots," she said. 

Some of the features of Clare.ai allow clients to ask about the details of their finances anytime, anywhere through real-time chats and text messages. The virtual assistant called Clare will also provide clients with guidelines on how to spend their money and manage their finances better by learning their spending habits, getting insights from their frequently lasked questions, and eventually tailong financial management tips.

Apart from the intelligent financial management that Clare can provide, it can also manage all accounts in one place with the added flexibility and accessiblity of the AI's integration with Facebook Messenger. This can be done without the need to download another app to talk to Clare. This allows instant replies and correspondence, providing ease in transactions anytime, anywhere. 

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