Artificial Intelligence in Banking

Customer Segmentation: A Treasure Trove for Marketers in the Banking Dynasty!

A bank’s success mantra is building a customer-centric banking platform. As simple as it sounds, it is tricky as it involves volatile customer expectations and increasing competition. However, those banks that go an extra mile…

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It’s time for Banks to raise the bar with ‘Analytics for ME’

Introducing Analytics in banking has changed the entire perception of Banks. They are no longer just about opening a savings account or taking a loan; it has become more of a personalized experience for customers.…

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AI-driven AMS- Time to turn over a new leaf for Challenger Banks

Up until 2008, the “Big Four” banks (Barclays, HSBC, Lloyds Banking Group, and NatWest Group) were the major financial organisations without any heavy competitors. However, the 2008 financial crisis gave birth to what we may…

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AI-based Service Ticket Analytics: Bid Adieu to Manual IT Bank Operations!

Over the years, banks have faced/are facing some major roadblocks like security threats, lack of customer intelligence, lack of technical expertise, etc. On top of it, the increased customer demand for a better  customer experience and…

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40% of Financial Services Use AI for Credit Risk Management. Want to Know Why?

The growth of the banking industry is directly proportional to its ability in managing credit risks. Every country has its own credit scoring analytics like CIBIL in India, FICO in the US, etc. This score…

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Is Complex Conversational by Chatbots at Banks, The Right Way to Go?

Complex Conversational Exchanges with a Bot – Are we there yet? In the age of Siri, Cortana and the Google Assistant in particular, which can make appointments and personal phone calls on a user’s behalf,…

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Recommendation Engines and the Next Best Action (NBA), Bank’s Biggest Ally for 2020

The customer satisfaction for a particular product recommendation has always fared based on the ability to make inroads into the mind of the customer. However, banks have relied on the experience of the financial advisor…

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2 Potent Ingredients for Product Recommendations at Banks – The Netflix way

Product Recommendation Engines are common in the retail industry with online commerce sales booming due to recommendation engines guiding online customers across a myriad of options. Amazon had even reported that 35% of their sales…

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The Ultimate Customer Personalization: ONE Banking Solution for ONE Customer

The 21st century has seen a foray of technological advancements and different attributes as the major trophy, which banks and credit unions have focussed on obtaining. However, customer personalization has toppled the rest of the…

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HOLD ON, Does your Data Strategy include Your Customers’ Banking Transactions and Social Interactions?

Opportunity with Data does not knock until you have all kinds of it. It’s 2019 and we’re sitting on massive chunks of data. Everything we do, we speak and interact with is considered as data.…

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How to Segment your Customers for the Best Banking Experiences using AI?

Banks realize the need to change from a product-centric approach to customer centric. One way to achieve this transformation is to better understand their customer through segmentation. Segmentation reveals specific intelligence that can otherwise be…

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Data lake can be foundation for AI/ML initiative for Banks

Banking & Financial Services industry is going through severe disruption and transformation. There is a growing real-time threat from fintech’s who are nimble and have new age-business models. One of the key reasons for the…

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