feature , it monitors income and expenses across seven spending categories , while providing budget tracking and personalised , customisable alerts .
“ The introduction of a virtual assistant allows the application to go beyond its transactional role by integrating a relational component , with all the caring support that sets Desjardins apart from the competition ,“ Nathalie states .
The AI assistant has been designed with a focus on practical , day-to-day financial management . “ Alvie offers about 20 different types of insights that are tailored to each member ’ s individual circumstances and financial patterns ,” Nathalie explains . These insights include cash flow analysis , budgeting tools and personalised notifications that help members track their spending across different categories .
Members can also access their tip history from the past 35 days , allowing them to review and act on previous recommendations . This proactive monitoring includes analysis of categorised transaction data , generating automated alerts when members approach budget limits or demonstrate significant changes in spending patterns . individual preferences and financial habits and helping generate increasingly relevant insights over time .
“ Using data to reinforce the quality of the service that we give to make sure that our advisors are empowered with more information to give the best advice at the right time ,” explains Mathieu Staniulis , Vice President of Product Solutions and Digital Platforms .
The virtual assistant emerged from Desjardins ’ strategy to enhance financial capabilities among members . “ We define financial empowerment as the capacity of a member to manage their dayto-day finances with the approach to reach their unique goals ,” says Nathalie . This focus on member empowerment stems from Desjardins ’ cooperative structure , with the bank conducting regular surveys to understand member preferences for product acquisition .
Development continues beyond spending analysis . “ Now , Alvie is delivering some great insights for everyday banking . It is now getting more and more involved in savings investments . And looking in the months to come , we will begin to implement some predictive insights also ,” says Mathieu .
Members can rate insights on a fivestar scale , enabling the system to refine its recommendations based on
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