Fintech company Klarna redesigns app, introduces AI-powered features like TikTok to enhance user experience

Financial services company Klarna redesigned its app to introduce TikTok-like features and leverage artificial intelligence (AI) to improve the user experience.

The fintech company revealed that its new design will help users find the items they want using more advanced AI recommendation algorithms, allowing merchants to target customers more effectively. .

Based on the shopping behavior of Klarna shoppers and their favorite brands, AI tools create their personal profiles. These shoppers will therefore receive recommendations from her 500,000 retailers in his Klarna, including top players such as H&M, Nike and more.

Regarding the rollout of AI-powered features like Klarna TikTok, the company’s chief marketing officer, David Sandstrom, noted that China’s top shopping platforms are leveraging the use of AI-driven shopping. He said he was inspired by companies. This worked.

In his words

“A few years ago in China, 90% of transactions started with a search. These days, less than 50% of purchases start with search, as recommendations are tailored to search. Our goal is basically to provide products and brands before people want them. “.

Sandstrom further said that comparing Klarna’s features to TikTok’s recommendations is too simplistic. He said it would be a blatant lie to say the company is close to being a short-form video sharing platform, but Klarna has prerequisites for doing so.

Previously, the fintech company also launched the ability to integrate OpenAI’s Chatbot ChatGPT into its service, as well as a plugin that allows users to seek shopping inspiration from chat or the platform. Rather than relying solely on AI, Klarma is looking to further personalize its services, and recently launched an ‘Ask Klarna’ feature that allows shoppers to chat with experts and seek video advice. .

One of the other features Klarna is rolling out is a resale option that allows them to sell used clothing, electronics and other items through their partner platforms. Klarna joins many other technology companies that are incorporating AI-powered technology into their products to improve the user experience.

Founded in Stockholm, Sweden in 2005, we make online shopping easier. As technology evolves rapidly, Klarna has continued to upgrade its services with the mission to make payments as simple, secure and, above all, smooth.

Klarna is the world’s leading payments and shopping service, providing smarter, more flexible shopping and purchasing experiences to 150 million active consumers at over 500,000 merchants in 45 countries. The company offers direct payments, post-delivery payment options, and installment plans in a smooth one-click buying experience that allows consumers to pay when and how they want.