GRAND RAPIDS, Mich.--(BUSINESS WIRE)--Mercantile Bank of Michigan and Abe AI are launching the MercMoney® Chatbot to support consumer financial health. In launching today, the organizations particularly want to draw attention to the need for financial health training and information for students and recent graduates.
The nonprofit Center for Financial Health Services Innovation (CFSI) is putting a spotlight on the state of Americans’ financial health with #FinHealthMatters Day. This year, on April 25th 2018, #FinHealthMatters Day will focus specifically on the financial health of America’s students. With over 20 million Americans pursuing higher education and roughly 70% graduating with debt, the issue is critical.
“We were delighted to see such support for #FinHealthMatters Day in 2016 and 2017,” said Jennifer Tescher, founder and CEO of CFSI. “It’s an annual day to draw attention to Americans’ financial health -- one of the most pressing issues of our time, and one that affects nearly everyone in some way.”
The MercMoney® Chatbot will help users improve their financial health by providing secure, simple access to their accounts through Google Home, SMS, and Messenger. After linking their accounts, users can track spending, set budgets, and manage their finances simply by sending a message through their phone, or talking to their Google home.
“At Mercantile we want to do everything we can to support our customers, and our students in particular, and that starts by re-thinking how we deliver relevant and timely financial insights that shape day-to-day financial decisions. That’s why we decided to expand accessibility by meeting them in the voice-and-messaging channels they are already using on a daily basis,” said John Schulte, Chief Information Officer. “To do this we’ve partnered with Abe AI, to expand the functionality of our personal financial management tools into Google Home, SMS (text-messaging), and Messenger. We want to make the management of money feel more like a conversation, rather than a chore.”
“This is the most sophisticated conversational banking interface available today from any financial institution,” said Rob Guilfoyle, CEO of Abe AI. “Being able to say, ‘How much do I have left in my grocery budget this month?’ or even make a new savings goal just by talking to my Google Home - that’s groundbreaking, and has the potential to transform the way we interact with our finances, taking away some of the potential intimidation, and making them simpler and more approachable.”
About Mercantile Bank of Michigan
Based in Grand Rapids, Michigan, Mercantile Bank Corporation is the bank holding company for Mercantile Bank of Michigan. Mercantile provides banking services to businesses, individuals and governmental units, and differentiates itself on the basis of service quality and the expertise of its banking staff. The mission of Mercantile is to provide value in a highly professional and personalized manner. Mercantile has assets of approximately $3.2 billion and operates 47 banking offices. Mercantile Bank Corporation’s common stock is listed on the NASDAQ Global Select Market under the symbol “MBWM.”
About Abe AI
Abe AI exists to create simplicity and convenience in everyone’s financial lives. Established in 2016, Abe AI makes it possible for financial institutions to utilize the latest advancements in artificial intelligence to engage and support consumers on conversational interfaces including Google Home, SMS, Facebook Messenger, smarter IVRs and more to drive acquisition, support engagement, and user experience. With Abe AI’s artificial intelligence platform, financial institutions can effortlessly build their own AI-powered banking solutions. For more information, visit www.abe.ai. Follow Abe AI on Twitter, Linkedin, and Facebook.