ChatGPT Can Now Access Bank Accounts and Credit Cards to Help Users Manage Finances

ChatGPT can compose a personal financial dashboard (photo: dok. openai.com)

JAKARTA - OpenAI has officially launched a new feature that has the potential to change the way people manage their personal finances. Through integration with financial technology company Plaid, users can now connect bank accounts, credit cards, investment portfolios, and other financial accounts directly to ChatGPT to get artificial intelligence-based budgeting and financial analysis advice.

The feature was announced on Friday, May 15, US time and is now available to ChatGPT Pro customers in the US via the web and iOS platforms. OpenAI said the current support includes more than 12,000 financial institutions, making the integration one of the AI company's largest moves into the personal finance sector.

With this access, ChatGPT can compile a personal financial dashboard that shows spending patterns, investment performance, upcoming bills, active subscriptions, and analysis of changes in user spending habits in real time.

Not only displaying data, AI can also be invited to discuss as a digital financial advisor. OpenAI provides a number of examples of questions that ChatGPT can answer after connecting a financial account, such as:

"Help me make a plan to buy a house in the next five years."

"How much was my last vacation?"

"I feel that spending has been getting bigger lately, what has changed?"

"Am I able to take a job with a lower salary in order to spend more time with my family?"

"What is the biggest risk in my investment portfolio?"

"Which subscription should I stop?"

This step shows a new direction for the development of generative AI which is starting to move from just a chatbot to a digital life assistant that understands the user's financial conditions directly.

OpenAI confirmed that ChatGPT can indeed see users' balances, transactions, investments, and liabilities, but the system cannot see the full account number or make transactions or changes to the user's financial account.

However, the integration of AI with sensitive financial data is expected to trigger new debates regarding privacy and data security. In recent years, concerns about the use of personal data by AI companies have continued to increase, especially after chatbots began to be used for work, health, and personal consultation needs.

The partnership with Plaid itself is quite strategic. The fintech company is known as an infrastructure that connects digital applications and financial institutions, and has been used by various popular applications in the digital finance sector in the United States.

OpenAI also revealed that the current integration is still limited to using Plaid, but support for Intuit will be coming soon. Later this feature is also planned to be launched for ChatGPT Plus customers after the company receives feedback from Pro users.

The launch of this financial feature is a signal that AI competition is no longer just about the ability to answer questions, but also who can become the most personal "live assistant" for users.

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