Mastercard Grows Its Brand with New Personal Finance Chatbot KAI

Hot on the heels of Bank of America's announcement yesterday that it is launching a new chatbot named Erica, Mastercard has unveiled its own personal finance bot named KAI at Money 20/20. Mastercard's artificial intelligence-powered bot responds to more than 1,000 queries about personal finances and other subjects. It was developed by Kasisto, a spinoff of Siri creator SRI International. Available to US consumers later this year, Mastercard KAI will converse about a customer's account history and account balance, as well as make payments, identify spending patterns and set alerts for specific kinds of spending. In addition to the Mastercard bot for banks, the financial services provider is also launching a bot for merchants.