Customers of Union Savings Bank (USB) now have access to a new AI-powered tool that allows them to track spending and better manage their finances, the Danbury-based bank announced.
USB Spending Insights, which runs on the FIS Digital One Financial Wellness suite, is available through the USB mobile banking app and free to customers with a personal checking account. The software is an automatic feature for those using the bank’s existing mobile app.
The tool provides 50 different data points about your spending, with trends visible with a swipe. By using the software you can set budgets, learn about spending habits and track spending on items including food, gas, restaurants, entertainment and subscriptions. The AI software can predict available cash levels and suggest ways to economize.
The holiday-adjacent launch is no coincidence, USB Senior Vice President Peter Scotch said. “USB Spending Insights comes at a critical time as people attempt to keep a particularly close eye on their expenses and identify ways to save,” Scotch said.
Other recent new products at Union Savings Bank include a contactless debit card and an early payday service.
“[USB Spending Insights] is the latest in a series of smart products that Union Savings Bank has introduced, all designed to improve the customer experience,” Scotch said.
Contact Liese Klein at lklein@newhavenbiz.com
