This week’s reads: Banking AI, biometrics and the cash in your wallet

Articles via Engadget, NCR Blog and Finextra

  • A virtual assistant for your bank account: Bank of America has introduced ‘Erica’, an AI-driven virtual assistant that aims to help customers better manage their finances and offer advice on their spending habits.
  • Is your bank ready for biometrics? Figures from Visa suggest trust in banks to use biometric data responsibly is growing. What will this mean for steps such as security and fraud in the coming years?
  • Wallets and purses being made ‘obsolete’: A new study conducted by Mastercard has indicated that the average consumer in the UK now carries less than £5 in cash on their person. As cards become their first choice for payments, one in ten people have abandoned their wallet or purse altogether and just carry plastic in their pocket.

What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom

Written by Staff