Digital Banking

Mybank intros AI money management tool

Photo: Adobe Stock

September 19, 2024

Mybank, a digital bank in China, recently introduced its Cuckoo System AI solution for small and micro-sized enterprise money management. This tool forecasts cash flow for SMEs, which can in turn offer better returns on investment, according to a press release.

Cuckoo System is powered by Ant Group's Bailing model with a time-series encoder for cash flow prediction models with an accuracy rate of more than 95%, according to the release. It can also model the chances of investment product purchases and redemptions.

"As of the end of 2023, Mybank has served over 53 million SMEs cumulatively. Mybank aims to leverage its deep understanding of SMEs' needs and cash flow, along with AI technology and the convenience of digital banking, to create an advanced money management experience for SMEs and support the growth of the real economy," Feng Liang, president of Mybank, said in the release.