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Why do AI projects in finance fail to deliver ROI? Despite the billions poured into artificial intelligence, nearly 40% of financial services CIOs admit their AI initiatives failed to achieve positive ROI in the last year. Why is this happening? It’s not about the technology itself—it’s about strategy. Success hinges on aligning AI with business goals, leveraging high-quality data, and focusing on the right use cases.
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Omnichannel Evolution: A Deep Dive into Banking Sector Trends
What are the omnichannel trends in the banking sector? This particular approach is constantly evolving, with more intelligent technology being introduced to provide clients with a consistent experience across all channels, with the digital ones, like mobile devices and the internet, attracting the most attention. If you wish to learn more, read this article – we shall discuss the main omnichannel trends here.
Exploring the Role of Artificial Intelligence in Digital Banking
From virtual assistants to fraud detection – AI plays a significant role in digital banking. It drives the creation of personalized customer experiences, improves sales, accelerates customer support, and improves productivity within financial institutions. So, how exactly does it help banks achieve these benefits? Let’s find it out.
Future Trends in Digital Banking: What to Expect
What are the current and future trends in digital banking? Namely, a rise in the use of AI, the introduction of blockchain and cryptocurrency technologies for better security, open banking, and sustainability. In this article, we shall shed more light on digital banking advancements and explore what the next generation of online banking has to offer. Did we spark your interest? Then read on.
The Power of Omnichannel Support in Digital Banking
Embracing omnichannel support in digital banking isn’t only a way to build seamless customer journeys across different channels – it can also help you reduce operating costs and maximize productivity in your branches. But, for that, you need one thing: a platform that integrates data from all the channels into one place, and enables your employees to switch between digital and traditional communication with the clients swiftly – a platform like Livebank.
The Rise of Virtual Assistants: AI’s Impact on Banking Customer Care
An AI virtual assistant is an option chosen in banks more frequently. It is so, due to the fact that using generative AI in customer support helps banks reduce their operational costs, improve response times, and personalize customer experiences. Let’s look into this in more detail.
Revolutionizing Customer Engagement: The Optichannel Approach in Banking
The optichannel approach in banking refers to choosing the most optimal channel (hence the name) for the particular client. It gained utmost importance with new generations entering the financial world. Take, for instance, the survey conducted by Insider Intelligence [1], showcasing that mobile banking is most commonly utilized by Millennials and Gen Z while less used by Baby Boomers or Gen X. In this article, we shall delve into the role of optichannel banking – we invite you to read on!