“The financial industry is waking up to the tremendous transformative potential of AI. Industry experts believe that leveraging AI will help the banking industry save a whopping $1 trillion come 2030. Another report by Narrative Science in 2018 revealed that over 32 per cent of banks out of the total surveyed had already adopted advanced…
Tag: Financial Services
A Roadmap For Building A Business Chatbot
“Here’s a quick recap of the detailed 10-step process: Start by identifying whether or not a chatbot is a right fit for your business model. Understand the different types of chatbots and identify the ones you need. After settling on a type, give your chatbot a purpose by defining its goals. Once the end goal…
FinTech Partnerships Pave Path for Branchless Banking
“PYMNTS’ own studies show that a majority of consumers love digital banking features and are happy using digital banks and FinTechs. But fewer than 10% use them as their primary account. ‘It’s embedded banking in multiple places and digital experiences and throughout the customers’ daily lives,’ she said, to which Nowicki observed about the rise…
Why AI Is the Next Step In Digitization Of the Finance Sector
“As per a report by Mckinsey Global Institute, it has been estimated that utilizing AI to enhance core banking functions and provide customized services to customers across the globe will extend a value of over $250 million across the industry. Industry experts believe that leveraging AI will help the banking industry save $1 trillion come…
How To Instill A Digital Mindset At Financial Services Firms
“Digital transformation has cemented its place as one of the dominant business trends of recent years, with analysts predicting the sector will grow to an impressive $1.8 trillion by 2028. Change inevitably brings friction, but the benefits organizations can realize with a digital mindset are changing from nice-to-have to must-have. The digital mindset is about…