Fintech WeMoney has launched a collaboration with Google to help Australians get their financial health in good shape before they try to borrow money.
The financial wellness platform approached Google Cloud earlier this year for help to develop an AI-powered credit health education assistant. Called “WeMo” it’s designed to help people better understand and improve their credit scores.
Founder and CEO Dan Jovevski said a recent survey by WeMoney found that around 59% Australians are unaware of their credit score. WeMo uses AI to analyse credit report information, then deliver with personalised insights to improve your credit score.
“We are thrilled to partner with Google Cloud and harness the power of Vertex AI to revolutionise safe and responsible credit health management in Australia,” Dan Jovevski said.
“Our mission is to improve the financial well-being of all Australians, and WeMo is a significant step towards achieving that goal. Too many Australians struggle with understanding their credit health, which leads to longer term consequences that could easily be addressed only if they knew how decisions could impact their financial futures.
WeMo is scheduled public this month following a period of invite-only testing amongst WeMoney members. It will be integrated into the WeMoney app,
Google Cloud ANZ CTO Matt Zwolenski said the collaboration with WeMoney will provide new tools that tackle complex challenges and deliver more value to customers.
“AI-driven solutions have the power to revolutionise financial wellness by offering consumers personalised and actionable insights to achieve their financial goals,” he said.
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