Pocketnest in Detroit Deploys AI to Simplify Financial Planning

Pocketnest, a female-founded financial wellness platform in Detroit, has kicked off its biggest product release, which focuses on artificial intelligence.
175
Computer graphics
Pocketnest in Detroit has kicked off its biggest product release which focuses on artificial intelligence. // Stock photo

Pocketnest, a female-founded financial wellness platform in Detroit, has kicked off its biggest product release, which focuses on artificial intelligence.

With direct guidance from Peter Norvig, director of research at Google and IBM, Pocketnest soon will launch the next generation of financial planning. It is believed to be the first-ever fintech platform that’s both powered by AI and covers all areas of financial wellness, from budget and retirement savings to estate and tax planning.

“AI is a definite game-changer across industries, brands, and products and will only improve Pocketnest’s ability to guide users to financial wellness seamlessly and with purpose,” says Norvig. “As a Google-accelerated company, Pocketnest shows great promise to change how people approach their finances and financial education.”

Built on behavioral science and psychology, Pocketnest coaches users through 10 themes of financial wellness. Using AI, the platform will provide deeper, more personalized insights and recommendations to help people of all backgrounds and financial know-how to build and stick to a financial plan confidently.

“AI represents an immense opportunity to help more people achieve financial wellness faster because — much like Pocketnest — it’s personalized, user-centric, and feeds off of behavioral cues,” says Jessica Willis, founder and CEO of Pocketnest. “This further positions Pocketnest as one of its kind and will help the masses access financial health and security — on their terms.”

AI, and Willis’ 25-year background in wealth management, will power the fintech’s ability to answer personalized questions, provide tailored recommendations and education, identify gaps in users’ plans, and provide a custom-tailored roadmap to financial success.

On the heels of earning top accolades in The Fast Company Innovation by Design award for its human-centered design to help people manage their money, Pocketnest’s AI-centered project will make the burdensome task of financial planning even easier, approachable, and accessible to the masses.

With 44 enterprise customers across more than 100 white-labeled instances—and counting—the fintech licenses its white-labeled software to financial institutions to generate qualified leads and identify an average of $575 million in cross-sell revenue for each institution; it also licenses to employee wellness programs to amplify recruitment, productivity, and retention.