Australian start-up pilots financial 'personal assistant'
Australian fintech Douugh is launching a pilot programme this month aimed at advising clients on their personal finances using a virtual assistant. The assistant, named "Sophie", is expected to provide clients with advice on issues such as credit card debt and bill payments. The firm says its plan is to launch a platform allowing customers access to transaction accounts, debit cards and loans supplied by a licensed bank based on interactions with the virtual assistant. Douugh is hoping to act as a "financial control centre" and provide consumers with loans that are cheaper than credit card debt they may currently be taking on. 

San Francisco-based Douugh (the extra "u" was to help it secure a domain name) would also be competing with banks, though it will not actually hold a banking licence in Australia. Instead, it aims to team up with an already-licensed bank, to provide a "white label" transaction account to be offered under the fintech's branding.