“Personalised customer experience
Leading banks and neobanks are building their business around AI platforms because they understand the gains and significant impact on their organisations: AI systems add intelligence to existing products and drive innovation further and faster than any other technology before.
The more personalised the service through AI capabilities, the more significant is the retention of customers. A report shows that a large bank that recently used data-driven AI to offer personalised reward programs by predicting their customers’ preferences had an increase of 40% in their reward program usage. The same report shows that other banks who have also applied AI models to predict customers’ needs have increased almost 30% in sales.”
LOQR: How AI Can Empower the Banking Industry Transformation