predictive AI can identify

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patterns, then alert bank staff to potential customer needs. Maybe it recognizes a customer building up their savings account and frequently checking their credit score. This could indicate they are planning to make a purchase that requires lending services. A personal banker then could use generative AI to reach out to the customer with a personalized loan offer tailored to their finances.

Similarly, predictive AI can alert your team to event triggers, such as a customer’s fixed deposit reaching maturity. Then generative AI can help you meet that customer at the right moment, generating a package of reinvestment options for their unique circumstances. That’s what people want from customer service in banking.

Eventually, AI will make personalized financial planning more accessible for all banking customers, no matter their wealth. By analyzing the vast amounts of data you already have, the algorithm can offer personalized recommendations tailored to every customer’s financial goals. This will revolutionize the way financial advice is delivered, making it more america phone number list accessible and relevant to the broadest range of banking customers.

Use AI to take customer service in banking to the next level
Despite improving digital services and capabilities, many banks find it difficult to win the loyalty of their customers. Customer service could make the difference, helping the customer feel known and valued by offering empathetic, personalized care.

Still, you will need to think about how you’ll supervise AI usage. Choosing the right technology platform is key, and you should look for solutions with built-in compliance and transparency features for protection and control. These might include audit trails for record-keeping, automatic hand-off to humans for decision-making, and transparency in data usage for recommendations.

For banks to build trust with their customers, they must get to know them throughout the journey. To do this at scale, AI can help you connect with customers, addressing their needs and showing you care about their needs today and in the future.