Mercury Deploys Conversational AI Interface Across FinTech Platform

Mercury has added a conversational artificial intelligence (AI) interface to its financial platform.

With the new Mercury Command, users can chat with the platform, tell it what to do in natural language, and see it complete the work with their approval, the company said in a Tuesday (June 16) press release.

Mercury Command can perform tasks such as checking the user’s cash position, changing their auto-transfer rules, categorizing transactions and sending an invoice, according to the release.

“The future of banking is an account that helps you run your business,” Mercury Co-Founder and CEO Immad Akhund said in the release. “Founders today are running their companies with remarkable tools and then logging into a bank account that acts like a passive vault. Command is what it looks like when your account finally becomes a partner.”

Mercury is a FinTech company offering banking services provided through Choice Financial Group and Column N.A., Members FDIC, according to the release.

Because Mercury’s platform helps customers manage cards, invoicing, bill pay, spend management and more, it has the full context needed to provide answers that are grounded in real data and take action in the user’s Mercury account, the release said.

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Command can only see and act on what each user is authorized to access in their Mercury account, and it requires the customer’s explicit confirmation before it executes any action, per the release.

Mercury began rolling out this new feature to all its business and personal customers Tuesday.

More than 300,000 customers use Mercury’s platform. The company’s customer base was initially concentrated among venture-backed startups, but it now extends across eCommerce, professional services and a broader collection of digitally native businesses, Akhund told PYMNTS CEO Karen Webster in an interview posted June 9.

Akhund’s own experience as a founder is reflected in Mercury’s identity as what he described as an alternative to legacy financial institutions.

“We really think about banking as, ‘How do we build all of this financial software to help your business run?’ It’s not just the checking and savings account,” Akhund said.

Mercury announced May 20 that it raised $200 million in a Series D funding round that valued the company at $5.2 billion.

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