Personal finance management is complicated; people are often hesitant to use new technologies for fear of losing money. Looking to put any privacy fears to rest and ensure finances remain secure, Wally, the personal finance management mobile app, is launching WallyGPT, a generative AI assistant.
Personalisation is the key to success in the modern financial world. Customers are more than happy to leave their current organisations if they feel they will be better treated elsewhere. With this in mind, WallyGPT provides a targeted experience for its customers. It answers questions about the user’s financial past, in turn, helping them better plan for their future, This is in addition to offering insights into investment opportunities and financial literacy.
“Wally has always been at the forefront of personal finance management, and the introduction of WallyGPT is a testament to our commitment to continuous innovation,” said Saeid Hejazi, CEO and co-founder at Wally. “We believe that WallyGPT will empower our users to make more informed financial decisions while maintaining the utmost privacy and security.”
Since its inception, Wally has helped people track their net worth. Not only that but their spending and budgets worldwide by connecting their bank accounts to the app too. With its charts, graphs, tables, and notifications, Wally has garnered numerous accolades. These include:
- ‘Top finance app’ by Apple
- ‘Expense tracker of the year’ by Investopedia
- ‘Global best-in-class’ by Medici
- ‘A beautiful budgeting app for people that hate math’ by Glamour magazine
Ensuring data protection
The organisation’s new AI service takes customer data security extremely seriously. Wally has never shared, sold or rented personal or financial information. In line with these principles, WallyGPT not only provides limited data in certain contexts so that no one can be tracked, but it also destroys the data 30 days after learning it. WallyGPT’s data is never used for training and no banking information, account information, or other sensitive information is shared.
Further supporting the company’s dedication to security, Wally applies various markets’ cybersecurity standards to its global operations. Some of these include systematic third-party security audits, penetration, and vulnerability testing. Wally connects to banks through PCI-compliant, ISO 27001-certified, and GDPR-compliant services. Users’ data is encrypted on their devices, in transit, and during storage.
Image and article originally from thefintechtimes.com. Read the original article here.