Frollo has bought Hip Money, a US originated Australian based technology startup.
In Brief:
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Hip Money uses AI powered technology to help users eliminate debt and save money.
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Frollo is a platform that provides insights for users to manage their spending.
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The company hopes to expand in order to enhance its offering to banks and credit unions – including AI.
What does this mean?
Hip Money’s expertise in AI will help Frollo’s wider aim of supporting the financial wellbeing of its users – it will do this by making recommendations and providing information so users can make their own decisions, as this kind of educated autonomy becomes increasingly popular.
