UK-based fintech Cleo, known for its AI-powered budgeting app, has launched its most advanced product to date. Dubbed Cleo 3.0, the new version introduces features such as voice interaction, long-term memory, and improved reasoning capabilities.<\/p>\n
Barney Hussey-Yeo, Cleo\u2019s founder and chief executive, said Cleo 3.0 is less chatbot and more \u201cconversational AI money coach.\u201d Users can now have real-time voice conversations with Cleo, which the company says makes financial help feel more natural and accessible.<\/p>\n
\u201cCleo remembers your goals, learns your habits, and delivers personalised financial guidance previously only available to the wealthy,\u201d said Hussey-Yeo, who founded the fintech<\/a> in 2016.<\/p>\n You connect the app to your bank account, and Cleo uses AI<\/a> to look at your spending, income, and habits. Then \u201cshe\u201d gives you helpful insights, like how much you can afford to spend this week or where you\u2019re overspending.\u00a0<\/p>\n The tool now allows users to speak with the assistant, which responds in natural language and draws on past interactions to deliver tailored advice. For example, you can ask, \u201cCan I afford to go out this weekend?\u201d and it\u2019ll give you an answer based on your current balance and bills.<\/p>\n \u201cCleo 3.0 represents more than just a product update \u2014 it signals a shift in what we should expect from financial technology,\u201d said Hussey-Yeo. \u201cThe AI revolution won\u2019t be defined by who builds the largest models, but by who applies intelligence to solve the hardest, most human problems.\u201d<\/p>\n The app is powered by OpenAI\u2019s o3 model and uses chain-of-thought<\/a> reasoning to break down complex financial decisions. Cleo claims its user engagement is 20 times higher than that of traditional banking apps<\/a>.<\/p>\n The company expects to exceed 1 million paid subscribers this year, with annual recurring revenue (ARR) reaching $250mn \u2014 an 82% increase on 2024. However, Hussey-Yeo said in a LinkedIn post last week that \u201c$500mn ARR is around the corner.\u201d<\/p>\n The founder also dangled the possibility of the company going public. \u201cSo, London or NYC for the IPO?\u201d he wrote.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"UK-based fintech Cleo, known for its AI-powered budgeting app, has launched its most advanced product to date. Dubbed…\n","protected":false},"author":2,"featured_media":35149,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,4174,4175,56,54,55],"class_list":["post-35148","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-personal-finance","tag-personalfinance","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/35148","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=35148"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/35148\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/35149"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=35148"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=35148"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=35148"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}