The feature, developed with Experian, allows users to access financial education tools through Snapchat's AI chat function.
Instead of only using augmented reality lenses and filters, users can now ask questions about money management topics such as budgeting, saving and building credit.
"Experian really wanted to meet consumers where they are. And we know that, especially Gen Z, they're digital natives. They grew up on digital platforms," said Christina Roman, Experian's consumer education and advocacy manager.
Roman said the goal is to make financial information more accessible to younger audiences.
Within the app, Snapchat users can click on the Experian icon inside the AI chat section to ask general financial questions.
For more personalized guidance, users are directed to additional Experian tools outside the app.
"If they need further information, if they would like more personalized information, then we will guide them back to Experian, where we have our Experian virtual assistant that can answer more tailored questions based on maybe information in their credit report or guide them to articles that will have answers to the questions that they're seeking," Roman said.
The chatbot is powered by Experian's educational content, which the company says has been vetted.
It is designed to provide reliable answers at a time when misinformation on social media is a growing concern.
"And we want to be that trusted resource. We understand there's a lot of financial misinformation on social media. And so we want to be that organization that's there offering that trusted information, and then guiding them toward further resources where they can educate themselves," Roman said.
Even with the convenience of AI-driven assistance, users are urged to protect their privacy by keeping interactions general. Personal or sensitive financial details should not be shared through the chatbot.
"Experian really is here to be that big financial friend that's guiding you in your decisions around credit, around budgeting, around saving, to help you lead a more confident financial life, to empower financial health for all," Roman said.
As a general rule for any social media platform, users should avoid uploading personal information and instead keep questions broad, using the resources provided for more detailed assistance when needed.
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