What made Douugh’s (ASX:DOU) shares jump on the ASX


  • Douugh has introduced Autopilot, its proprietary self-driving money management within its app, to help the users automate its users' money management.
  • Salary Sweeper is the first Autopilot made available to the customers. It would automatically allocate the paycheck to their expenses for a period and contribute to achieving their saving goals.
  • Autopilot uses numerous machine learning models to manage the money of its users.

On 9 February 2021, Douugh Limited (ASX:DOU), the provider of AI-driven financial wellness app announced the launch of Autopilot, which is the Company's proprietary self-driving money management within its app. Post the release of this announcement, DOU shares surged 17.741%, trading at A$0.182 (AEDT 01:04 PM).

The launch of Autopilot is Douugh’s first step to fully automate the process of money management feature for its customers. 

Salary Sweeper would be the first Autopilot made available to Douugh users and would automatically allocate the customer's paycheck to their expenses and contribute to achieving their saving goals.

A Peek into Working Model of Autopilot

Autopilot is a self-driven money management app, and it is essential to understand how it works.

Autopilot uses numerous machine learning model to manage the money of its users. Each model has a dedicated task to perform and gets improved with time as it gets to know the user better based on their financial data. Below are some key features:

  • Budgeting: Autopilot detects income and expenditure. It then groups similar transactions, analyse the frequency of transaction, and predict future outgoings.
  • Categorisation: In this process, Autopilot reconciles transactions as per merchant and category and accordingly analyses periodic and behavioural spending to forecast future expenses.
  • Forecasting: In this process, Autopilot finds and analyses historical patterns in income and outgoings to predict future outgoing balance.

Using these models, autonomy algorithms make real-time decisions related to allocating money, sweeping cash between Jars to provision for bills, achieving saving targets, top-up savings with unspent salary remaining, and speed-up debt repayment.

How does the user interact with the algorithm?

Users can interact with the algorithm via Recommendation engine, that shows optimum saving per day through which the user can achieve their savings goal. In case the users are not realistic, they are getting an alert.

Step towards Banking

Presently, the Company is at level 2 with banks positioned at level 0. The open banking data availability has made it possible for Douugh to study up to 24 months of income and expenditure data and accurately predict and forecast on behalf of the users once they sign up to Douugh.

The Company is at level 3 with the inclusion of an increased sweepers list. With the imminent launch of wealth management services, the Company believes that Douugh would help people grow their money responsibly.






Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK