Today’s expectancy in banking service delivery is in terms of leveraging intelligent and seamless digital experiences. Service industries provide customised, de-siloed, and privacy-protected user journeys that keep evolving and improving. Key challenges encountered here are the lack of proactive customer service, longer time to resolution and inconsistent service across touchpoints.
This IBS Intelligence whitepaper talks about how the banking industry needs to undertake a paradigm shift and why Artificial Intelligence (AI) is a critical component for banks to streamline and restructure their ongoing processes to achieve digitization truly.
AI in banking has thus been adopted as a problem solver and hence leading banks should favor a conducive environment for the development and implementation of the same.
AI solutions for banking will enable frictionless customer journeys and derive valuable insights. Institutions must move towards transformation, equipping themselves to innovate and take advantage of the forthcoming trends in the industry, to not only maintain but also strengthen their position in the market.