It's tough to get things tested on a bank's digital properties which limits the pace of innovation. And innovation is badly needed to solve the digital engagement problem as branches empty, customers churn, and banner blindness persists.
There are almost as many different ways for a financial institution to use artificial intelligence machine learning to connect with their digital users as there are banks and credit unions. With the popularity of online and mobile banking, it’s hard for bankers to engage with people they seldom see. That’s where AI and ML come in. Let’s take a look at how a couple of recent adopters of the Micronotes solution are driving sales by engaging with their digital banking users.
More than 400 retail banking executives worldwide were asked to estimate the impact a variety of technologies, new competitors, and other factors are likely to have on banking over the next several years. Not surprisingly, respondents expect fast-growing technologies—including artificial intelligence machine learning—to cast a long shadow over the industry.
Let’s take a look at how some financial institutions are engaging with their digital users in order to generate more leads, which builds a strong foundation for product and service sales.
More and more financial institutions are choosing to deploy Micronotes’ AI-driven solution for improving engagement and sales. But recently, we learned about yet another benefit that our machine-learning platform delivers—helping with regulatory compliance.
If UK Fintech Monzo can successfully enter the U.S. market as a digital-only, app-based “bank,” traditional banks will have no one to blame except themselves.