London-based fintech firm Plum has reportedly launching its services in Ireland and aims to onboard 300,000 customers by the end of 2021.

Currently, the smart money management platform has one million sign-ups in Britain.

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It aims to reach five million across Europe by early 2022, with plans to mark its overseas entry with the Republic of Ireland, The Irish Times reported.

Its platform works in sync with bank accounts, which analyses spending and saving patterns, and automates personalised financial decisions for customers.

The customer accounts of Irish banks like Bank of Ireland (BOI), Allied Irish Banks (AIB), Ulster Bank and Permanent TSB (PTSB), as well as UK challenger Revolut can be linked to Plum.

Plum uses artificial intelligence (AI) to automate monitoring bills or saving money for holidays, for its users.

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They can select saving rule options like a 52-week challenge. Plum will also introduce investment services next year.

Plum co-founder Victor Trokoudes said: “Plum is all about automation rather than recommendations so we have designed the product in a way that it takes actions and moves money into savings accounts on your behalf rather than showing you retrospective information on spending patterns and then waiting for you to make decisions.

“The key reason for using Plum is that you will save more without really thinking about it. Essentially, it is more money with no pain, with it being easy to save €1,000 in the first year alone.

“If you automate your finances using Plum, we estimate you will be 10% better-off after the first year, and 20% better-off over your lifetime.”

Founded in 2016, Plum has raked in $19.3m of funding, including $10m this year.

In the coming months, Plum is planning to roll out in Spain and France, The Irish Times report added.