OpenAI has introduced a new personal finance feature within ChatGPT that lets users securely link bank accounts, credit cards, and investment portfolios to the AI assistant, according to TechCrunch.
Rolling out as a preview for ChatGPT Pro subscribers in the United States, the update highlights AI’s evolving role in everyday money management and suggests how similar tools could eventually change budgeting, spending tracking, and savings dynamic worldwide, including in Kenya.
The system uses Plaid, which is a widely used financial connectivity platform, and reportedly supports connections to over 12,000 financial institutions, including major US banks and investment services.
Here is how it works, once accounts are linked, ChatGPT analyses a user’s real transaction history to generate personalised financial insights, according to The Verge.
Instead of going over bank statements or spreadsheets, users can ask conversational questions, like why spending rose in a particular month, how much is going to subscriptions, or whether they are overspending. To these questions, user will receive tailored explanations and answers.
This shift signals a broader trend of AI evolving from just a mere conversational chatbot to digital financial assistant.
Although currently it is limited to the US, the development is likely to draw attention in Kenya, where mobile money and digital finance are deeply embedded in daily life.
Services such as Safaricom’s M-Pesa, mobile banking apps, SACCOs, and various fintech platforms are universal, and a local rollout could let Kenyans connect wallets and accounts to AI systems that track expenses, spending patterns, remind users of bills, and offer financial planning advice.
However, the feature raises significant privacy and security concerns. Cybersecurity experts warn that linking sensitive financial data to AI introduces risks around data protection, account access, and the reliability of AI-generated advice.
Further curious about how financial information will be stored, processed, or potentially repurposed by AI providers over time.
On their part, OpenAI states that users control their connected accounts and can disconnect them or delete financial memories at any given time, and adamantly reiterates that ChatGPT cannot in any way, move money nor execute transactions on behalf of users.