Oportun Launches AI-Powered Tool to Automate Savings for Recurring Bills

A financial services company has introduced an artificial intelligence-driven feature designed to help users prepare for regular expenses. Oportun’s Smart Bills tool automatically sets aside money for recurring payments, including rent, utilities, insurance, and subscriptions. This new addition builds on the company’s existing Set & Save platform, which uses AI analysis of income and spending patterns to allocate funds towards savings goals.

Since its launch in 2015, the Set & Save platform has helped users accumulate over $12.8 billion in savings, with an average annual saving of $1,800 per user. The new Smart Bills feature takes this a step further by calculating ‘safe-to-save’ amounts and reserving funds ahead of upcoming payment dates. It can also identify recurring expenses that users may want to track.

Early data from Oportun suggests that users are taking advantage of the tool’s capabilities, with those using Smart Bills saving 48% more each month compared to those relying on Set & Save alone. The feature has collectively saved its users over $14 million so far, with car payments, rent, and utilities being among the most commonly added expenses.

The launch reflects a broader trend in consumer finance, where FinTech companies are increasingly using artificial intelligence to provide personalized budgeting tools. Rather than simply tracking spending, newer AI-powered solutions aim to help consumers anticipate expenses and make proactive financial decisions.

According to Annie Ma, Oportun’s head of savings, ‘Set & Save makes it easier for people to build healthy financial habits in a way that works for their everyday lives.’ With Smart Bills, the company is helping users connect their savings to recurring priority expenses, allowing them to better budget and plan ahead.