ChatGPT Now Helps You Pick a Credit Card

Online banking and lending platforms are shifting their strategies, moving away from traditional websites to integrate with artificial intelligence (AI) tools like ChatGPT. Three companies, Experian, Synchrony, and Klarna, are leveraging AI to enhance their services. Experian launched a credit card comparison app inside ChatGPT on Thursday, allowing users to compare various partner cards based on annual fees, introductory bonuses, rewards rates, and APRs.

The company's executive vice president of product, Debbie Hsu, claims that this move makes financial experiences more intuitive for consumers. Synchrony, a consumer lender, announced a partnership with OpenAI to bring a ChatGPT plugin that enables shoppers to discover savings and promotional financing from Synchrony's merchant partners within a conversation.

Moreover, Synchrony plans to allow customers to complete purchases without leaving the chat. Klarna, a general retail company, launched its Shopping Search app in ChatGPT, offering users visual results with live prices, availability, and offers from multiple merchants within the conversation. According to a PYMNTS Intelligence report, 37% of advanced AI users now consider a native AI platform as their primary tool for managing finances and banking.

This shift is even more pronounced among mainstream users, with their reliance on AI for financial and banking tasks doubling within a single month. Nearly half of advanced AI users now claim they have replaced their old approach to shopping and purchasing with an AI-driven alternative. For Experian, Synchrony, and Klarna, their bet lies in ensuring that once consumers start shopping within the chat, they won't revert to typing a URL.