18. ANNA Money

Company: ANNA Money

Founders: Boris Diakonov, Eduard Panteleev

Website: https://anna.money



About ANNA Money


ANNA (Absolutely No-Nonsense Admin) is an AI-powered business account, mobile financial assistant and tax app that makes life easier for freelancers and SMEs.

It was conceived in 2017 when the founders observed how much small businesses struggled with complicated financial admin. ANNA provides a faff-free, affordable, time-saving solution now used by more than 100,000 UK SMEs.

Unlike other mobile-first financial service apps, ANNA has created an experience that’s more like having a personal assistant rather than just a collection of services. It is the brand’s groundbreaking AI that makes this possible.

Machine learning enables the app to process text commands in natural language into “skills”. This means that most tasks – from creating and paying invoices to setting up direct debits and downloading statements – can be accomplished via ANNA’s highly sophisticated in-app chat function.

The customer simply asks in the chat for a task to be done – “Send an invoice to PinPep Ltd for £1,000,” – and it is done in seconds. The app will automatically chase the recipient for payment too.

A typical banking app does not allow this: customers either waste their time searching for the right buttons/interface elements among all the overloaded application screens; have to fill in multi-page forms with several fields, or have to wait ages for a reply from customer support.

On an operational level, AI gives ANNA customers an outstanding level of speed and efficiency: automation of customer chat queries is at 80% (up from 65% a year ago). Over time, after carrying out the same task regularly, the customer’s behaviour teaches the app, enabling more automation. The more it learns, the better the service, the more the service is used, the more it learns – there are now more than 600k automated messages on the app and this is continually growing.

This also frees up ANNA’s 24/7 customer service team to seamlessly respond to more complex requests that the AI cannot process in less than one minute (monitor the live response time here). No wonder ANNA is rated Excellent on TrustPilot with a score of 4.6.

The next step in ANNA’s journey is to become a fully-fledged AI accountant and advisor to business owners. Essentially, the AI will learn how the business runs and this information will be used alongside financial insights to help customers navigate their business finances in an organised, optimised and efficient way. Accounts will be analysed in real-time, with accounting advice tailored to each specific business – eg. how they can make savings in December when sales are usually low.

The potential for the ANNA of the future is huge – that “accountant in your pocket” is just going to get smarter and more useful. ANNA’s goal is to support businesses worldwide with its cutting-edge technology and user-friendly platforms. The more advanced the tech becomes, the more capability there is and the more potential to deliver on a huge scale while still maintaining exceptional customer service.



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