Conversational Banking Is a Competitive Necessity in a Remote-Everything World

“For financial institutions that have yet to adopt conversational banking, the potential user base already exists. Nearly two-in-five U.S. adults are now users of smart speakers, such as Amazon Alexa or Google Home.
In November 2020, eMarketer estimated that 128.0 million people in the US used a voice assistant – 44.2% of internet users and 38.5% of the total population.
The aggregate potential cost savings for banks from AI applications is estimated at $447 billion by 2023, according to Autonomous Next research. Notably, the front office (conversational banking) and middle office savings account for $416 billion of that total.”