The future of hyper-personalized finance

We see AI as a transformative force in banking, one that will reshape how people manage their finances. As we move from a one-size-fits-all model to hyper-personalization, AI will not only make banking more efficient but also more inclusive. It has the potential to democratize financial services, offering everyone access to personalized tools and insights that were once reserved for the few.

From complexity to clarity

Personal finance can often feel overwhelming and difficult to manage. According to a survey conducted by Charles Schwab*, 65% don’t have a financial plan primarily due to it seeming complicated, and a perceived lack of time. This is particularly true for younger people as 53% of 18-39 year olds worry about their finances at least once a month.

AI offers a way forward by making financial insights more accessible and relevant to everyone no matter background or financial knowledge.

Lunar is a bank but we are also a tech company at heart. This means we leverage our expertise to lead the banking industry in tech innovation and AI. By building our AI Assistant, we are addressing this, as it acts as a personal financial assistant, offering insights and overviews that help users better understand and control their spending.

What Lunar AI Assistant can do

The AI Assistant provides several key functions designed to give you clarity and control:

• Spending Overview: Get a breakdown of your expenses over the past month or identify recurring payments.
• Savings Optimization: Plan savings for specific goals, such as a dream vacation, or optimize your monthly budget.
• Expense Tracking: Understand your spending habits and how to adjust them for long-term financial goals.
• Consumption Insights (coming soon): Identify where you might be overspending and get suggestions for cutting back.

By offering personalized financial insights 24/7, the assistant enables you to make more informed choices about your money. While it doesn’t provide financial advice, it equips you  with knowledge to better manage your personal finances.

What’s next?

AI is already integrated into Lunar in three key areas: user experience, customer support, and internal operations. It allows us to streamline processes, enhance customer interactions, and continuously adapt to user needs.

Looking ahead, we believe AI will fundamentally change how people interact with their banks. With hyper-personalized services, every user will experience banking as a tailored, individual journey. AI is not just a tool—it’s a foundational element in building a more intuitive and responsive banking experience.

As AI continues to evolve, the possibilities for its application in finance are vast. We’re exploring those possibilities, believing that AI will unlock new ways to support and empower people in managing their financial lives. This is just the beginning of a journey towards a more personalized, accessible banking future.

Data security and privacy

A critical component of AI in finance is trust. User data is handled with the highest standards of security. The AI Assistant uses your data solely to provide personalized insights and does not share it for external purposes or algorithm training. We are committed to maintaining a safe, confidential platform for all users.

* Charles Schwab Modern Wealth Survey 2023, conducted among a national sample of U.S. adults aged 21 to 75.

The Lunar AI Assistant Beta is designed for general financial inquiries and is continuously being updated. Errors may occur. Please verify information and consult experts when making decisions. The assistant does not provide financial advice. Use at your discretion.