FINANCIAL

Banks Can Help You Stop Draining Your Money

By Susan Tompor
Detroit Free Press

WWR Article Summary (tl;dr) Beginning in early 2019, the “Heads Up” program at Huntington Vabk will integrate artificial intelligence tools to provide customers with up to 40 key insights into their financial wellness as they set goals.

Detroit Free Press

What if Mom always could be at your side and make you think twice about whether you really should spend an extra $50 on yet another night out with the girls?

OK, who really wants to hear from Mom all the time? But what about your bank? Could you give up mindless spending if you got a nudge from your banker?

As we move into the season of New Year’s resolutions, expect to hear more from banks — including Huntington Bank and Ally Bank — and others about how to do a better job at tracking your spending and saving more money.

“You might not always love what you’re hearing. But everybody needs a coach, a Mom or a friend,” said Andy Harmening, senior executive vice president, consumer and business banking director for Huntington.

Huntington is running ads now that highlight a “Heads Up” alert where customers can set a monthly amount to spend on shopping, groceries, or restaurants, or whatever.

Then, during the month, the bank sends a heads up via your mobile phone, laptop or computer to keep you on track. You might get a notice like: “You’ve spent $300 of your $400 budget for groceries this month.”
Can a drone stop you from spending?

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