GCash has introduced Pera Coach, an AI-driven financial education tool integrated into its e-wallet application. This initiative was developed in partnership with Microsoft.

Against the backdrop of growing concerns over financial literacy levels in the Philippines, a 2021 survey by the country’s central bank indicated that just 2% of Filipinos could correctly answer six basic financial questions. Despite widespread digital access, many still lack familiarity with key financial products like insurance and investments.

Pera Coach was conceived to address this gap, providing personalized financial guidance directly within an app used by millions of Filipinos daily. The tool communicates in both English and the national languages, offering responses that are tailored to each user’s unique financial situation rather than generic advice.

Integrating Pera Coach into GCash’s ecosystem was a strategic decision. By embedding this feature within the app itself, Mynt aims to provide immediate guidance at the point of engagement, ensuring financial education is seamlessly integrated with daily financial activities for users.

AI in Financial Literacy

Utilizing enterprise-level AI to enhance financial literacy aligns with broader trends in Southeast Asian fintech. Expanding access to financial services while ensuring meaningful usage remains a critical challenge, acknowledged by both advocates and regulators across the region.

Microsoft’s involvement underscores the practical application of generative AI. This partnership positions GCash as an early innovator in leveraging conversational AI for large-scale financial education within an emerging market context.

According to a Mynt official, the goal is to make financial literacy accessible and practical through Pera Coach, thereby empowering users to make more informed decisions with real-time advice.

Pera Coach has now been integrated into the GCash app and is available to existing users in the Philippines.