Intelligent Search by Bud Financial set to be the foundation of customer AI experiences

‍NEW YORK, FEBRUARY 4, 2025 – Bud Financial (“Bud”), the AI-powered financial platform for banking and financial services, today introduced Intelligent Search, a powerful, intuitive financial transaction search feature, built on a foundation of LLMs and AI-powered transaction enrichment.

Intelligent Search allows retail banking customers to search their transaction data to gain insights into their spending. Timely, proactive suggestions and rich, personalized insights can be deployed into the digital banking experience. 

This first-to-market feature ushers in the future of banking user experience, bringing next-generation GenAI capabilities directly into digital banking platforms. With over 79% of mobile banking users relying on their banking application to check their balance and transaction history,⁽¹⁾ Intelligent Search is a new way for consumers to interact with their bank that will exceed their expectations.

With personalized questions, suggested queries, and smart keywords, Bud’s Intelligent Search delivers clear answers about transactions, spending, transaction locations, habits, and regularity—driving smarter decisions and deeper engagement with customers:

• Using Bud’s consumer finance LLM “under the hood”, Intelligent Search is able to understand and give detailed context to transaction search queries. It provides these detailed, actionable insights in a summary at the top of the list of transactions queried,  turning transactional data into rich customer insights.
• In addition to the AI summary of the search results providing human context to the search findings, the search itself is also AI-powered to understand context and nuance, yielding more accurate and intuitive search results. For example, “How much does my car cost me?” will pull transactions for leasing, fuel, repair costs – anything associated with the costs of car ownership and maintenance, to provide a complete and comprehensive financial picture.
• Intelligent Search also promises to drive operational efficiencies for banks through reduced inbound queries related to unrecognized transactions. Over 75% of consumers have found an unknown transaction in their bank statements and 80% of these contact their bank.⁽²⁾
• Intelligent Search is also designed to provide contextual dialog that brings offers to the customer at the right time. Financial institutions can nudge customers with suggestions at the relevant touchpoints to increase activation and engagement. 

“Banks and financial institutions of all sizes, from the community banks to global powerhouses, know that they need to be deploying AI strategies and technologies to build personal relationships with their customers while maintaining data privacy and security,” said Edward Maslaveckas, CEO and Co-Founder of Bud.

“We’ve been laser-focused on the development and application of AI, ML, and natural language processing specifically for the banking and financial services industry since our founding. Banking will be agentic, and this feature will be the future workhorse of more autonomous models we have in development. Intelligent Search will be a hugely impactful gateway to AI for any financial institution to implement at scale.”

Intelligent search is available for a live demo today, and financial institutions can use it via a discrete application by the end of the month.

‍Sources

1. Statista: Reasons for using mobile banking apps
2. Mastercard: Research report: What’s the future of digital banking