Study Reveals How the Data & AI Revolution Will Drive Digital Banking Growth
“The mobile banking app remains an opportunity – Still not universal, only 72% of banks and credit unions use the mobile banking app channel for selling.
Adoption of conversational AI will continue to increase – As the technology becomes more sophisticated and widely used by consumers over the next 3-5 years, financial institutions will employ AI to help with increasingly complex tasks, such as financial planning and investment advice. Over 50 percent of respondents believe implementations will be ‘effective’ or ‘very effective’ beyond the 5-year time frame.
Data and advanced analytics are key to driving growth – Financial institutions must move from reactive to real-time communication as quickly as possible. The power of data, advanced analytics, and AI will be at the core of consumer engagement.”