Olivia.ai – Ireland’s first ever AI-Predictive Personal Financial Management Assistant

With financial strain being one of the leading causes of stress amongst Irish people, today sees the launch of Olivia, a ground-breaking, AI-powered financial assistant that proactively helps you adjust your spending habits and ultimately save more money.

Olivia brought to the Irish market exclusively with Irish Life, applies artificial intelligence to determine individual spending habits, predict purchases, and to recommend ways of making greater savings, and is available for free on iOS and Android.

Olivia gives people an instant, consolidated, panoramic view of all their bank accounts, balances, and transactions, and uses AI to accurately categorise expenses to determine spending patterns and behaviours.

Olivia supports all major Irish banks: AIB, Bank of Ireland, Ulster Bank, and PTSB – along with Revolut – and support for more institutions is being added. People connect their accounts to Olivia by authorising through their bank’s website, and at no point in this process does Olivia have access to, or store their credentials.

Speaking at the Irish launch, Olivia co-founder Cristiano Oliveira said “Olivia separates herself from other apps through her interactivity and proactivity. She learns from people’s spending patterns, predicts both their behaviour and their next buying decisions, using those insights to provide real-time personalised recommendations on how to spend less on the same item.”

He continued, “We know privacy and security are critical issues for consumers and we take that very seriously. That’s why we’ve designed Olivia to the highest standards of bank-level encryption security,” says Oliveira. “Users can revoke all of Olivia’s access to their accounts and information at any time and are in complete control. We do not keep any account history on file and will never sell any personal or financial data.”

Olivia also provides secure app access, encouraging you to set a 6-digit passcode or biometric unlock (on iOS) to access the app. Olivia cannot make any transactions, she can only view the transactions your bank has provided. Once you delete your account, Olivia will delete all your account and transaction information and does not keep any transaction history.

Olivia interacts with people through a friendly, informal tone, and speaks in the first person through a chat feature, helping her to remain close to those she’s designed to assist. Each proactive recommendation Olivia makes is specifically tailored to you with the goal of helping you make more responsible financial decisions.

For example, every Monday the app can notify you of your upcoming bills and determine whether you will have enough in your account to pay said bills. You are then able to adjust your spending for the week to ensure all bill payments are made on time.

Speaking about Irish Life’s involvement with Olivia, Denis McLoughlin, Head of Insurance, Irish Life, said, “In keeping with our mission to help people build better futures, we are sponsoring the launch of Olivia to the Irish market following research that highlighted a need among the Irish population for help with day-to-day finances.

Olivia is a personal, online financial assistant that goes beyond the ordinary spending categorisation and provides you with useful insights not only on how money is being spent but exactly what you can do to spend it more wisely. Olivia ensures that savings are made simple, helping people to increase their own financial literacy and ultimately lead to healthier financial lives.”

Olivia is immediately available for download on the Google Play Store and the App Store.