AI money manager specialist launches new feature

Cleo, an Artifical Intelligence (AI) money manager has launched a one-click charity giving feature, for online and mobile giving across the UK.

Since 2015 the number of people giving monthly has fallen, while the number giving on an ad hoc basis has risen. At the same time, the proportion giving via mobile and online – through websites, social media, and apps – has steadily increased to more than 25%. Cleo’s new feature addresses both these trends. The AI makes it simple for people to give regularly, but in an adaptable way – and streamlines users’ financial decisions, bringing young people’s money into one digital space.

Cleo helps users save a flexible amount each month. She calculates how much they can afford to save, and puts it away for them. Now, they will be able to donate a percentage to charity with just a click. Cleo’s millennial user base is a demographic disproportionately likely to be in debt or overdrawn. Thanks to Cleo’s calculations, they’ll never be at risk of going into the red, or have to worry about how much or little they can give each month: Cleo will intelligently adapts the figure to their changing financial circumstances.

The feature will connect Cleo users with two independent charities, Toynbee Hall and The Money Charity, whose work in financial inclusion and education align with Cleo’s mission to simplify finance for a generation.

Barney Hussey-Yeo, CEO of Cleo said “Cleo is simplifying the future of finance for our generation – young people who want tech-driven solutions that help them take control of their money. We are very excited to launch a feature that satisfies the desire of our users to give to charity – especially to smaller, independent organisations like The Money Charity and Toynbee Hall – and to make it effortless for them. Cleo will do all the work for the user: no direct debits, no worrying about whether they can afford to give this month. Each month users will be able to control their giving simply, alongside all their other money management, powered by artificial intelligence.”