“When asked to select their preference between a digital banking app that understands their needs and shares relevant offers versus one that respects their privacy and does not push offers, nearly three quarters (73%) of consumers in an Alkami study gravitated toward the former. Only 35% of consumers are satisfied with their online or mobile…
Tag: Brandon McGee
Harnessing the power of conversational AI for banking customer service
“In August 2020, This is Money found that – in some cases – it took three hours for customers to get through to a human when contacting their bank. Of course, this was in the middle of a global pandemic, so you can excuse a certain amount of disruption to services, but this is where…
A new frontier for transforming nonpersonnel cost management in banking
“One of the most promising methods to improve profitability is to apply advanced analytics (AA) and artificial intelligence (AI) to better manage nonpersonnel costs. In our experience, such costs account for more than 40 percent of overall expenses at the typical European bank. they have reduced expenses by 10 to 15 percent on average across…
Overcoming Key Challenges in AI Deployment for Financial Services
“As noted by Business Insider, 56 percent of banks have implemented AI in risk management, and 52 percent use these tools for revenue generation from new products and services. While 74 percent of banking executives say these technologies will transform the industry, they’re worried about barriers to effective deployment, such as growing skills gaps and…
New Global AIFinTech100 Recognises the Tech Companies Using Artificial Intelligence To Transform Financial Services
“The AIFinTech100 was produced to identify the 100 most innovative companies developing AI applications in financial services that every financial institution needs to know about as they develop their digital transformation strategies. The leading companies awarded a place on the list include: Actico: an international provider of software for intelligent automation and digital decisioning in…