TalkBank, a resident of the Skolkovo Foundation’s Information Technology Cluster, has developed and implemented in five instant messengers a virtual financial assistant based on artificial intelligence. The Buffett chat bot answers questions on Facebook, Telegram, WhatsApp, Viber, and VKontakte.
The virtual robot, named after business tycoon and billionaire Warren Buffett, is able to analyze a specific user and select convenient methods for managing personal funds for him.
Mikhail Popov, founder and CEO of TalkBank: “To properly manage your money, it’s important to understand the topic of finance and not to go blindly on the path to material well-being. We launched a unique online consultant who helps manage personal finances, put them in order and learn how to manage a budget. Buffett answers questions in all popular instant messengers, and it is absolutely safe. Information related to card numbers is not used directly. Information about the details of the cards is not transmitted or stored in the messengers, you can not read the correspondence and get the card number or see its security code. We clearly share the flow of information, so all customer data is protected. TalkBank passed a security audit and received a PCI DSS certificate of compliance. ”
Buffett chat bot helps control and optimize costs; analyze expenses, keep a budget at gas stations and service stations, arrange travel insurance, manage debts. He also informs about the current exchange rate.
Buffett is constantly learning himself, and developers are adding new features to him. The great advantage of Buffett is its accessibility: it is active 24/7, without days off and lunch breaks. To obtain the necessary information, it is enough to have a telephone at hand.
Vladimir Zelenin, project manager of the Information Technology Cluster of the Skolkovo Foundation: “It is known that the higher a person’s income, the more closely he monitors his finances. But even with very strict accounting, the optimization potential remains. A personal online assistant is convenient in that it gives personalized recommendations and takes into account all financial aspects - mortgages, regular payments, long-term goals. The cybersecurity issue is also important - it is easier for attackers to enter the bank than to collect disparate data used by Buffett. ” Help
TalkBank is the first virtual bank in Russia without branches, call centers and mobile applications, which offers full-fledged banking functionality and works in instant messengers. Financial management is carried out with the help of artificial intelligence - a chat bot that helps to draw up and receive cards, pass identification, and carry out cash transactions online. TalkBank's architecture and API allow embedding banking functionality in the business processes of services and customers. Security contours and API architecture are based on knowledge of the security features of instant messengers and banking APIs. TalkBank has passed a security audit and received PCI DSS compliance. For innovativeness and technological effectiveness TalkBank was awarded prizes and diplomas at international startup competitions Seedstars and SWIFT Innotribe, MoEx, as well as in the nomination “Most Innovative Project” from the Skolkovo Foundation. TalkBank also received a special prize from RVC at the Finopolis Financial Innovation Forum, organized by the Bank of Russia. Website: https://www.new.talkbank.io
Skolkovo Foundation is a non-profit organization created on the initiative of the President of the Russian Federation in September 2010. The goal of the Fund is to create an ecosystem conducive to the development of entrepreneurship and research in the areas of: energy efficiency and energy conservation, nuclear, space, biomedical, strategic computer technologies and software. The Fund is entrusted with the management of the Skolkovo Innovation Center, whose activities are regulated by a special law that provides special economic conditions to startups that have undergone special external technological expertise (now there are more than 2,400 of them). In 2019, the revenue of Skolkovo participating companies amounted to 111.6 billion rubles, the total revenue over the 10 years of the project’s existence reached 412.7 billion rubles. More than 35 thousand people work in startups. In total, more than 2900 developments and technological solutions have been patented. An important part of the Skolkovo ecosystem is a research university - the Skolkovo Institute of Science and Technology (Skoltech), created and functioning with the support of the Massachusetts Institute of Technology. The construction of the infrastructure of the IC Skolkovo at the expense of the federal budget has been completed (Technopark, University, Gymnasium, road and engineering infrastructure have been built). Over 750 thousand square meters were commissioned. m. objects.