First Internet Bank introduces AI-powered financial intelligence to give personal and business customers a new way to understand their finances. The new feature allows customers to securely link eligible bank accounts to AI assistants, including OpenAI’s ChatGPT* and Anthropic’s Claude*. This means users can ask financial questions in plain language and get answers that are personalized to their own account activity.
The new feature also makes it easier to do financial analysis that has traditionally required spreadsheets, manual reviews, or specialized planning tools. Supported AI assistants let customers get meaningful insights through natural conversations, rather than having to spend hours sifting through financial records. They can see spending habits, track savings, review cash flow, check balances and get a better understanding of account activity. This will enable them to make better financial decisions when the need arises.
The solution is based on Model Context Protocol (MCP) technology. It establishes a secure, read-only connection between eligible First Internet Bank checking, savings and money market accounts and supported AI assistants. The customers also get to choose what information they want to share. They also have full control because they can update or revoke permissions any time they want.
“For years, sophisticated financial analysis was largely limited to organizations with dedicated financial planning and analysis teams,” said David Becker, Chairman and Chief Executive Officer of First Internet Bank. “Today, we’re putting that power directly into the hands of businesses and consumers alike. What once required spreadsheets, manual reviews or specialized financial resources can now happen through a simple conversation powered by each customer’s own financial data. That’s a fundamentally new way to understand and manage your finances.”
AI Banking Delivers Personalized Financial Insights
This upgrade allows First Internet Bank’s customers to access more than just basic account information. Instead, they can receive insights that are specific to their financial position. For example, a small business owner might ask if the cash reserves they have on hand are adequate to meet the next payroll. They can also see vendors that account for the highest costs, or cash flow trends for the last 90 days. Similarly, personal banking customers can monitor their monthly dining expenses, find recurring subscription payments, or gauge their year-to-date savings.
Security is also a major focus of the new capability. AI assistants only see the information that customers give explicit permission for. They can’t move money, make transactions or change banking preferences. Customer banking information is not used to train AI models either. This approach enhances transparency without revealing sensitive financial information.
Overall, the launch of AI-powered financial intelligence is a reflection of First Internet Bank’s continued investment in digital banking innovation. Using secure AI integration with permission-based access, the bank provides customized financial insights while ensuring customer control and data security. As financial institutions increasingly adopt artificial intelligence, digital banking, AI banking and personal finance technology, tools such as these are likely to change how customers manage their daily financial decisions.
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News Source: Businesswire.com
