Pocketnest Deploys AI to Simplify Financial Planning

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Oct 17, 2023, 08:00 ET

Fintech kicks off AI project with guidance from Google, IBM

DETROIT, Oct. 17, 2023 /PRNewswire/ -- Pocketnest, the female-founded financial wellness platform, announces the official kickoff to its biggest product release yet, focusing on artificial intelligence.

With direct guidance from Peter Norvig, Director of Research, Google, and IBM, Pocketnest is soon to launch the next generation of financial planning: the first-ever fintech platform that's both powered by AI and covers all areas of financial wellness, from budget and retirement savings to estate and tax planning.

"AI is a definite game-changer across industries, brands, and products and will only improve Pocketnest's ability to guide users to financial wellness seamlessly and with purpose," said Norvig. "As a Google-accelerated company, Pocketnest shows great promise to change how people approach their finances and financial education."

Built on behavioral science and psychology, Pocketnest coaches users through 10 themes of financial wellness. Using AI, the platform will provide deeper, more personalized insights and recommendations to help people of all backgrounds and financial know-how to build and stick to a financial plan confidently.

"AI represents an immense opportunity to help more people achieve financial wellness faster because—much like Pocketnest—it's personalized, user-centric, and feeds off of behavioral cues," said Jessica Willis, CEO and founder, Pocketnest. "This further positions Pocketnest as one of its kind and will help the masses access financial health and security—on their terms."

AI, and Willis' ~25-year background in wealth management, will power the fintech's ability to answer personalized questions, provide tailored recommendations and education, identify gaps in users' plans, and provide a custom-tailored roadmap to financial success.

On the heels of earning top accolades in The Fast Company Innovation by Design Award for its human-centered design to help people manage their money, Pocketnest's AI-centered project will make the burdensome task of financial planning even easier, approachable, and accessible to the masses.

With 44 enterprise customers across 100+ white-labeled instances—and counting—the fintech licenses its white-labeled software to financial institutions to generate qualified leads and identify an average of $575 million in cross-sell revenue for each institution; it also licenses to employee wellness programs to amplify recruitment, productivity, and retention.

Pocketnest, Inc.^™ is an IBM- and Google-accelerated financial wellness app that coaches users through 10 themes of financial wellness. The platform helps users identify and fill gaps in their plans while identifying cross-sell opportunities for the financial institutions they license to, like banks, credit unions, investment advisors, and 401k plan sponsors; and employee wellness programs. Launched in 2019, the fintech is recognized as one of the world's most innovative startups and is featured in Fast Company's Innovation by Design Awards.

SOURCE Pocketnest