Dutch neobank bunq has upgraded its AI assistant to be fully conversational.

Named Finn, bunq said the AI assistant can now answer multiple questions and provide deeper insights into users’ finances at “double the speed”.

The move comes as the FinTech also announces it has entered the insurance market.

The upgraded assistant can now tackle questions users have around their accounts and spending habits, while also having the capability to recommend places to visit in new cities based on reviews by other bunq members.

The company said that since it launched in December last year, Finn has answered over 100,000 questions.

“As well as effectively replacing the search function in the app, bunq uses AI to handle user support questions,” said Ali Niknam, founder and chief executive of bunq. “As of now, Finn is independently solving up to 40 per cent of user support questions, and assisting with 75 per cent, every day, helping users tackle any issues they might have while using bunq.”

Additionally, bunq announced that it has expanded into travel insurance in a partnership with Qover as part of plans to build a full service aimed at digital nomads around the world.

bunq now offers automatic worldwide coverage for users on its Easy Bank Pro XL plan and said that claims can be filled from the app.

The FinTech claims that international travel is increasing to levels similar to those seen before the pandemic, with around 1.3 billion trips taken in 2023 . bunq said that the insurance it offers aims to tackle the challenges faced by travellers when re-purchasing insurance for every trip.

bunq now has around12.5 million users worldwide and over eight billion euros in deposits. In January, it announced a net profit of €53.1 million for 2023, its first year of profitability. The company said that its latest full-year results make it Europe’s second most profitable neobank.

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