Conversational banking* has itself a new challenger in Bella, a US-based firm promising “compelling AI messaging technology”.
The entrant wants to offer coordinated checking and savings accounts…
Its unique offering is a “karma account” through which users can accrue points towards gifts for other Bella customers.
[Bella] says the karma account is “a secure, random, and fun way to create more love in the world”.
Bella promises prospective users the ability to customise their accounts with photos and hashtags… It plans to base its approach around a conversational banking interface named Socratex… [Bella:] “Socratex combines the highest efficiency of software with the empathy of people to deliver a fast, intuitive way to complete day-to-day banking transactions.”
[Bella’s] accounts are insured up to $5 million per member. This is much higher than the usual $250,000 figure… As an extra incentive, Bella says customers could be “randomly” rewarded with between 5 and 200% cashback when they use their card.
Bella is the brainchild of former Unicredit exec, Angelo D’Alessandro…
* "Conversational banking means the inclusion of messaging apps – with all their native abilities to communicate in text, voice and rich formats – into a bank’s client experience. Given the intensity of a conversational style service, AI-powered chatbots have to jump in and answer the bulk of repetitive questions.” https://blog.avaloq.com/what-is-conversational-banking