Google is ditching SMS – and will now use QR codes for Gmail account authentication
“Google will instead introduce on-screen QR codes that will have to be scanned with your chosen authentication device in order to verify that it is actually you trying to log in. This potentially adds an extra layer of biometric security for those who use a facial recognition or fingerprint scan to access their device or applications.”
IBM: Which Banks Will Lead in the Age of AI?
“Simply adopting AI is not enough. Banks require a cohesive, forward-thinking business strategy harnessing artificial intelligence to drive targeted outcomes like operational efficiency, enhanced client experiences and developer productivity. Equally critical is their ability to clearly communicate this vision, enabling them to stand out in an industry increasingly dominated by AI-driven innovation and differentiation. This involves understanding what the bank wants to achieve in the next three to five years and how AI can help. A successful AI strategy requires close collaboration across all aspects of the business, ensuring technological investments are aligned with business priorities and can deliver tangible results.”
New Research Shows Surging Consumer Demand for AI-Banking Services, According to Personetics Global Survey
“Seventy-four percent of customers would be more loyal to their bank if it offered personalized tips and insights tailored to their daily spending and saving habits. This is significant because, with most banking services now being digital, switching providers has become easier, and the rise of open banking will further simplify the process.”
BNY Teams With OpenAI to Bring ‘Transformational’ AI to Banking
“Leaders view AI as a tool for efficiency and a way to create hyper-personalized customer experiences, a critical factor as 50% of retail banking consumers are not satisfied with their current banking options,” PYMNTS wrote in September. “This growing reliance on AI signifies a pivotal moment where banks must evolve or risk being overshadowed by nimble Big Techcompetitors.”
Voice AI Will Change How We Bank
“As our colleagues have written, voice AI is at an exciting inflection point. Voice agents allow you to scale to peak demand, staff phones 24/7, communicate in your customer’s preferred language, and operate at a fraction of the cost of human employees. Consider an immigrant from the Philippines with an auto loan who is working 9 a.m to 5 p.m. every weekday. Now, instead of needing to take time off work to get her questions answered, she can converse with an infinitely patient AI agent in her native Tagalog over the weekend. Early data suggests that some customers prefer speaking with an AI than with a human: imagine always getting the same customer service agent, with perfect memory of your every interaction every time you call.”