Mobile banking app Varo Money is bringing a bot into its app to act as a financial personal assistant for its customers. Named Val, the bot will help Varo customers plan emergency savings, set goals, and provide insights that help them keep track of and control their spending. Created by Kasisto, the bot can answer more than 1,000 questions about an individual’s personal finances. “We’re using a series of reinforcement algorithms that are going to help users make smaller, more informed decisions with their money around optimizing a particular financial outcome. Our initial focus next year is going to be building emergency savings,” CEO Colin Walsh told VentureBeat in a phone interview. Read more: venturebeat.com
