Abound and NEAR AI Launch 'Financial Autopilot' for Non-Resident Indians
Abound, a financial app for Indians abroad owned by The Times of India Group, is building an AI system that will automatically execute financial decisions on behalf of users rather than simply recommend them.
The system, developed with NEAR AI, will monitor foreign exchange rates, bank balances, bills, and investments. When conditions match user-defined goals, it executes transactions without requiring manual approval for each action.
Abound currently serves 800,000 Non-Resident Indians and processes over $300 million in annual remittance volume. The company plans to roll out the Financial Autopilot in phases, starting with remittance optimization before expanding to banking, investments, and bill payments.
What the system will do
- Smart Remittances: Automatically transfer money when exchange rates reach user-specified thresholds.
- India Banking and Investment Management: Monitor Non-Resident External and Non-Resident Ordinary accounts, identify better returns, and manage fixed deposits.
- Autonomous Bill Payments: Handle recurring obligations like EMIs, utility bills, and school fees based on learned patterns.
- Unified Net Worth View: Display real-time assets across multiple geographies in a single dashboard.
Nishkaam Mehta, CEO of Abound, said the shift moves beyond transaction speed to outcome automation. "For millions of NRIs, managing finances in India is fragmented and time-consuming," Mehta said. "With our AI Financial Autopilot, users can set their goals, and their financial life runs itself."
Security and oversight
Abound is building the system with data protection and user trust as core requirements. The platform will require explicit user approval for critical actions and provide transparent visibility into all AI-driven activity.
George Zeng, chief product officer at NEAR AI, said the partnership combines secure AI infrastructure with deep knowledge of NRI financial needs. "We are moving cross-border finance beyond simple transactions toward smarter, goal-driven systems that deliver genuine outcomes," Zeng said.
For professionals in finance, understanding AI for Finance and AI Agents & Automation is increasingly relevant as financial institutions adopt autonomous systems to manage client assets and execute transactions.
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