4 Tech Trends That Will Massively Transform Banking in 2021

“What’s the front-office potential for banks and credit unions from use of AI?
Ramamurthy: It’s massively large. AI is going to have a transformative role to play not only in retail banking, but in every industry.

In retail banking, one of the biggest impacts will be with digital agents. These AI-powered agents, or bots, will handle the multi-channel banking world of today and tomorrow. They will also materially increase the productivity of human call center agents, because the bot will be able to handle 80% to 90% of the calls.

Risk management is another huge area of AI impact, particularly for fraud intervention as banks and credit unions move towards real-time payments.”


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