KakaoPay has unveiled an artificial intelligence (AI) service that analyses users' spending details based on MyData and helps manage financial habits.

KakaoPay said on Monday it has launched a beta version of its personalised AI financial agent, 'AI Coach'.

AI Coach analyses users' MyData spending records. It provides ongoing management information so users can review spending habits and set asset management goals.

Key features include budget-based spending management and saving challenges, spending information based on transaction analysis, and guidance on government support benefits.

When users set a budget, AI Coach checks the pace of spending and sends alerts when there is a possibility the budget will be exceeded. Users can also check their spending status by comparing AI-recommended spending levels with their average spending levels.

It analyses spending records over the past 3 months and recommends saving tasks for each user. It provides savings targets by spending category and progress toward those targets so users can manage their spending plans.

The transaction analysis feature consolidates payment information scattered across multiple financial institutions and provides guidance on key spending items and subscription services that need review. It supports users in checking recurring spending and spending patterns.

It also provides guidance on government support benefits, such as subsidies and grants, that users can apply for. Based on a user's situation, it offers information on eligible support programmes and financial information.

Users can also choose the coaching style. They can select between 'Kkankkani', which strictly manages spending, and 'Mallangi', which encourages achieving goals, and guidance is provided according to the selected preference.

AI Coach is designed with a structure in which multiple specialised AI agents collaborate by function, such as budget management, spending analysis and information guidance.

KakaoPay plans to upgrade the service to propose necessary financial information and spending strategies before users ask questions, in response to users' financial needs in the future.

A KakaoPay official said, "'AI Coach' is an AI financial agent that supports users in forming better financial habits," adding, "We will develop it into a service that proactively suggests needed financial information and personalised spending strategies."