UBank has signed up a local fintech, Basiq, to help it smarten up its transaction banking app and take customers into the "AI-powered" Open Banking world.The first stage in the project was launched yesterday. The bank's app will draw on external data sources to "enrich" the bank's own data, giving customers more detailed spending insights, segmented into 40 categories.The app now has budgeting tools so customers can set savings targets and spending limits. The app will work like a fitness tracker giving daily updates.Next year, the app will be enhanced to include notices of upcoming bills and it will offer spending predictions over given periods.UBank chief executive said in a media release: "Budgeting is still a need that is widely underserved."