Startup Finn.AI Raises Funds, Launches Virtual Assistant with ATB Financial

EXCLUSIVE – Virtual banking assistant, Finn.ai has been on roll.

Not only has its collaboration with Canadian bank ATB Financial come to fruition today with ATB launching its virtual banking assistant, but Finn.ai also said it raised $3 million in funding.

These announcements, which were first circulated at Money 20/20 in Las Vegas today, come fresh after Finn.ai’s “Best of Show” award at the Finovate Fall 2017 conference in New York last month. Last year, it won the same award at Finovate Asia.

The funding was led by Vancouver-based venture capital Yaletown Partners, Seattle-based V.C. Flying Fish Partners. Former CEO and chairman of risk management solutions provider Absolute Software was also among the investors. Finn.ai said it would use the funding to grow its team as the company continues to grow its customer base in Canada, as well as expand into the U.S.

As for the virtual assistant for ATB Financial, the bank first started testing AI and chatbot technology in February. The virtual assistant it launched today will enable its 700,000 personal banking customers to perform personal banking activities through a messenger service.

ATB’s virtual assistant will allow its customers to carry out transactions such as paying bills, viewing account balances, and sending Interac e-Transfers or transfer money between accounts, as well as cross-currency money movement within their Messenger platform.

The virtual assistant offers PFM-esque features, such as spending insights, and provides access to a live customer representatives.

In a release circulated at the Money 20/20 conference in Las Vegas, Finn CEO Jake Tyler said:

AI is completely reinventing the consumer banking experience. With the Finn.ai platform, you get more than immediate, secure banking access, you get smart, personalized financial insights to help you achieve your specific financial goals. We’re excited to join forces with ATB and bring this innovative technology to another segment of our fast-growing customer base.

Additionally, Finn.ai announced that it was adding former TD Bank SVP of Retail Banking Products Carrie Russell to its team as a strategic executive adviser.