AI-native personal finance platform Matters emerges from stealth with $5m pre-seed

A new AI-driven personal finance platform called Matters has secured $5 million in funding. For retailers and service providers, this signals a shift in how your customers manage their money and credit. Matters uses artificial intelligence to act as an automated financial advisor. It helps consumers optimize their spending and manage debt across different accounts. This technology matters to your business because it changes the customer's decision-making process at the point of sale. As these AI tools become more common, customers will rely on them to decide if they can afford a large purchase or which financing option is best for their budget. Instead of just looking at their bank balance, they will have an AI telling them the long-term impact of a monthly payment. The platform's goal is to improve financial health. For merchants, this could mean higher quality leads. Customers using these tools are likely to be more aware of their credit standing and repayment abilities. However, it also means your financing offers will be under more scrutiny by the customer’s personal AI. Expect to see more automation in how consumers select Buy Now, Pay Later (BNPL) plans or traditional installment loans in the near future.

Source: Finextra — Lending

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