Merchant Innovation

Facebook Working On Newest Virtual Assistant: ‘Moneypenny’

Look out Siri, Cortana and Google’s unnamed assistant for Google Now (Tappy is available since they acquired Softcard — we’re just saying). It looks like a new competitor is set to join the digital personal assistant space — Moneypenny.

Moneypenny is at this point just its internal name at Facebook, where it is currently under construction.

However, apart from advertising Facebook’s Bond fandom (Moneypenny is M’s assistant in the James series for the uncool among our readers), Moneypenny is a little different from its competitors in the marketplace. Moneypenny isn’t really digital, according to reports in The Information. There are people behind it — “real people” work behind it to aid users with “researching and ordering products and services, among other tasks.”

The service will reportedly be integrated into the Messenger App — another instance of Facebook making good on its promise to amp up that app with additional services. Earlier steps in that arena include Facebook’s recent launch of P2P debit-backed payments through Messenger.

So far, not much is known about a potential release data for Moneypenny. It is currently being internally tested at Facebook.

To check out what else is HOT in the world of payments, click here.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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