Revolut introduces its new AI assistant, AIR, to customers in the UK.

      Revolut, the British digital banking platform, has recently introduced its AI financial assistant, AIR (AI by Revolut), to over 13 million customers in the UK.

      This AI assistant enables users to manage their finances via an in-app chat feature, offering insights into spending, investment tracking, subscription management, and card oversight. Additionally, it includes travel assistance functionalities like trip budgeting and the ability to purchase Revolut eSIMs directly within the app.

      The innovative service aims to transform the chatbot experience, streamlining the digital banking process by eliminating the need for complex navigation and numerous clicks. Customers can interact with the assistant by swiping down from the center of the app's home page or by navigating to Profile → Chats → AIR.

      The company underscores that AIR adheres to a strict zero-data retention policy and can only access the data visible to customers, such as transactions, investments, and card information.

      However, Revolut is not the first fintech firm to launch an AI assistant. Klarna has implemented one for customer service, while its Danish rival Lunar reports that around 75% of customer calls are handled by its AI voice assistant.

      Significantly, Starling Bank, a major competitor in the UK, introduced what it claims is the "UK’s first Agentic AI financial assistant” last March, providing similar features to that of Revolut’s AIR assistant.

      Julia Ponomareva, the customer experience and AI product director, emphasized that AIR is more than just an AI assistant. “We believe the era of navigating through endless tabs and menus is over. With AIR, we’re offering a new level of financial intelligence that is both powerful and effortless. It’s not merely an assistant; it’s a co-pilot that enhances daily life, making financial management as easy and intuitive as sending a text,” she stated, highlighting how this tool achieves advanced financial intelligence without compromising customer privacy.