Whether you’re a fintech entrepreneur or digital leader at a financial institution, learn how to develop predictive financial wellness solutions that deliver loyalty and longevity in this interactive VB Live event!

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The digitization of banking technology has been primarily aimed at creating operating efficiencies, says Keith Armstrong, co-founder and chief operating officer at Abe.ai, a digital consumer financial technology company, and customers have only been along for the ride.

“Sure, convenience has been delivered to the end user, in the form of being able to easily check my information through a mobile app,” he says, “but through that digitization, the genuine relationship that may have historically existed between a bank and a customer who would go in and talk to a teller, that’s been kind of eviscerated.”

And that means unless you’ve been at the leading edge, you’ve lost the ability to provide high-touch financial guidance and supporting your customers’ long-term financial health — and cut your customer retention strategy off at the knees.

“Banks should be invested in the financial health and development of their customers,” Armstrong says. “But they struggle to know details and financial circumstances and hopes and dreams of their customers. How do I collect that information to build a persona around you that influences the ways in which I serve you?”

Personal financial management (PFM) tools have stepped in to help consumers better manage their money and take a step toward financial health. But while account aggregation has leveled up the usefulness of PFMs for both user and bank, today’s financial management apps are not “smart” enough to help consumers better manage their financial wellness.

“It’s great to offer account aggregation, but that’s still only half the equation,” he says. “I an application can’t figure out that you want to save for a car purely through account aggregation. Being able to study a customers’ past financial behavior can help to make predictions about their behavior in the future — that’s an increasing need, for those who have an element of income volatility in their life.”

Armstrong believes that the next step is enabling customers to manage their financial life through voice and messaging apps, delivered by chatbots powered by AI and machine learning.

“We’re seeing a shift toward conversation, particularly these in-home voice-activated devices,” Armstrong explains. “The next evolution is how do we use conversation to supplement account aggregation, and allow the bank or the fintech company to truly understand the intimate details about what’s happening in a person’s financial life?”

Scalable conversation allows you to get the whole picture about what’s happening with an individual’s financial life, Armstrong says, where their virtual assistant is simply checking in on their day-to-day money management, and asking, what else is going on in your financial life that I need to know about?

It’s only as good as the data the consumer is willing to connect, he admits. But users are getting on board.

“Customers are willing to open up and share more if the bank is able to communicate and demonstrate the value that they are able to give back to the user when they share more details about their financial life,” Armstrong adds.

To learn more about data aggregation, predictive analytics, and the power of chatbots with personal financial solutions, don’t miss this VB Live event!

Don’t miss out!

Register here for free.

In this VB Live webinar, panelists will discuss:

  • Pivoting the drivers of change and the evolution of PFM in banking
  • How to improve customer interaction with financial wellness solutions
  • Using predictive analytics and AI to deliver more personalized and engaging financial wellness applications
  • Driving customer loyalty and engagement with the next wave of financial wellness solutions


  • Keith Armstrong, Co-founder and Chief Operating Officer, Abe.ai
  • Colin Walsh, CEO and Co-founder, Varo Money
  • Katy Gibson, VP Product Management, Envestnet | Yodlee
  • Evan Schuman, Moderator, VentureBeat

This VB Live event is sponsored by Envestnet | Yodlee.