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Building trust, avoiding fines, and keeping clients within your organization are all aspects of banking that are affected by cybersecurity. Yet, protecting client data is not easy, as threats evolve daily, changing and getting more dangerous. How do we handle them and associated risks at LiveBank? Find it out in this article!
Read moreAI has become a valuable ally in the world of banking. It is widely used for data analytics due to its supreme data processing capabilities. Yet, it’s not the only function of artificial intelligence in financial institutions. Customer service teams also benefit from AI, improving the speed and accuracy of their responses and enhancing customer experience. This is why, in this article, we shall look at what the future holds for artificial intelligence in banks and their customer service departments – we invite you to read on!
Fresh from the vibrant energy of Money20/20 in Las Vegas, the LiveBank Team brings back a treasure trove of insights that illuminate the unfolding path of banking innovation. Our discussions centered around the harmonious fusion of technology (AI Baking) and human touch in banking. The days spent at Money20/20 went beyond mere trend-spotting, offering a profound exploration into the transformative synergy shaping the future of banking.
Explore the world of cutting-edge banking innovation with LiveBank at Money 20/20 USA 2023. Join us as we delve into the transformative power of cloud and AI in shaping modern banking.
How to add new value for digital customers? Almost all banks have encouraged customers to shift transacting from branches to the digital world. Although not all adaptation attempts were successful, they achieved the goal. Customers check their account balances and make transactions and payments in web banking and mobile applications. So how can we add new value for these customers, based on digital roots?
Electronic banking has moved most transactional operations into digital channels. The benefits for the customer are better access to their finances and time savings. For banks, the benefits are the cost savings - the number of bank branches closed in the past decade is 82,000. The remaining branches focus on servicing more complex products, such as mortgage loans or investment products. Are we, therefore, on the brink of a revolution in social communication, in which we no longer require the other person to make time for us to speak with them?
The number of AI-driven solutions helping organisations improve customer communications grows every year. Sending specific queries to a bot helps customer service centres increase their efficiency. In addition, customer behaviour and expectations are changing regarding customer service.