Poli is an AI-powered tool that helps users navigate Terms & Conditions (T&Cs)

Project Summary

Consumer Research from the FCA (2015, 2021) has consistently shown that financial exclusion operates on a variety of levels, such as when consumers “do not have the ability and confidence to undertake simple banking activities online, or even to search for products and information”. Our tool, Poli, addresses this by supporting the many consumers who struggle to make informed financial decisions due to complex and lengthy Terms & Conditions (T&Cs). Consumers with low confidence, limited digital literacy, other vulnerabilities, and cases of English as their second language often find reading T&Cs overwhelming, making navigating financial products and services overwhelming. This can lead to users feeling disempowered and unable to provide informed consent. Poli bridges this gap and aids with financial inclusion. Our AI-based solution breaks down complex terms into clear, easy-to-understand language and provides visual aids. Empowered by this knowledge, users can confidently choose the financial products or services that best meet their needs.

The Innovation

Poli uses AI to analyze and simplify the content of T&Cs. It creates a visual navigator for the T&Cs text, presenting it in an easy-to-understand language and visual format. Poli also highlights and connects specific sections of the T&Cs, allowing customers to quickly review content and jump to relevant sections as needed. This feature resolves common issues AI encounters when summarising information. This innovation positions Poli as a leader in providing transparent and user-friendly financial information. Our product benefits not only consumers but also financial service providers who can attract and retain customers, promote trust and meet their consumer duty to support understanding and assist those in vulnerable circumstances.

The Benefits

Poli cuts through complex financial and legal documents, making them clear and accessible to everyone. Our product is a game-changer for vulnerable consumers, including those unfamiliar with using different financial products or services, neurodiverse individuals, or those with visual impairments. Moreover, Poli overcomes language barriers by translating summaries into your preferred language, ensuring that everyone can navigate complex financial documents with confidence and provide informed consent when accessing products and services. In short, Poli levels the playing field, fostering financial literacy and inclusion by empowering consumers to make appropriate financial decisions and take control of their financial future.