Cleo is the fastest-growing fintech app in history. It’s a money management tool with a sense of humor and a “zero-tolerance policy for bullsh*t.”

Barnaby Hussey-Yeo, a data scientist, founded AI-powered the Cleo app out of London. It was intended to be a fun-filled budgeting tool for “Gen-Zennials” – a friend in the pocket that speaks their lingo to help them save money.

It soon turned into a money-management revolution. Hitting the US market in summer 2018, Cleo now has 2 million consumers.

The Cleo app: Keep your data, and save money

“For decades, banks used data to predict how likely customers would overdraft their accounts or pay back their mortgages,” says Hussey-Yeo. “Now, with CLEO, it’s the customers’ turn to benefit from data.”

“In lieu, Cleo gives our users the tools to make the most of their own spending data and ensures they’re the only person who profits from it.”

Cleo has an auto-save feature allowing the user to save on average $20 a month. Additionally, they have instant and full visibility on their accounts.

The Cleo app: Back-chatting friend in your pocket

The app chats and talks back in the tone of a friend. So much so that Cleo’s personality is reaching cult-like levels. Here’s a sample:

“Roast me, Cleo”

App: Brace yourself

“Hit me”

App: Staggeringly, you’ve been on track for every day of your budget

😊

App: But you’ve saved $0.00. Guess how much that is if we double it?

The Cleo app: Anti-establishment (read: banks)

Cleo makes it very clear that she is not a banking app “and doesn’t want your money.”

Millennials already have a distrust of banks after the Financial Crisis in 2008 and the Occupy Wall Street movement.

“Gen Z’s are no different,” says Cleo, “with a high level of general distrust of “big banks” and fear of falling into student loan debt.”

As we noted last week, paying off student loans have become the top priority for Millennials in America. Perhaps a digital friend can help them reach their goals.