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Dave really wants to help save you from high priced overdraft charges

Wednesday, January 29th, 2020

Dave really wants to help save you from high priced overdraft charges

Meet Dave: an AI clothed in a bearsuit that’s just launched to save lots of you against the evils of costly overdraft fees. Hand Dave use of your bank account additionally the app’s device learning algorithms gets busy crunching your investing information therefore the bear can alert you about pending deals — like a month-to-month membership for Netflix or your typical Saturday evening Uber bill — which can push you in to the red and incur a bank penalty that is expensive.

The US-only software predicts a user’s “7 Day Low”, aka the best it believes your bank stability will drop within the next a week, so that you can encourage and support better cash management. The aim that is ultimate to help individuals avoid needing to fall straight straight straight back on the overdraft as “an costly as a type of credit”, claims co-founder Jason Wilk, explaining it as a kind of “weather forecast” for money administration. (more…)