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AI and Machine Learning in Banking

Posted by Robin Harrison on Oct 4, 2019 2:40:47 PM

 


Artificial Intelligence (AI) and Machine Learning (ML) are amongst several technologies which are enabling banks and financial institutions to deliver enhanced service experiences for their customers.

Following his feature in Information Age, we sat down with Jonathan Shawcross, Managing Director of Gobeyond Partners’ Banking practice, to explore further how bleeding-edge technologies are shifting the dial and realising major shifts in customer experience.

 

How are banks and financial organisations now using Artificial Intelligence and Machine Learning to deliver improved Customer Experience?

These new technologies are increasingly being deployed in direct, customer-facing environments, with automated response systems, such as chatbots, now reaching a maturity where they can be safely deployed in stringent financial services environments and more critically, able to handle increasingly complex enquiries typical to the sector.

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Topics: Banking

Banking Innovation in the UK

Posted by Robin Harrison on Jul 31, 2019 11:47:19 AM

 

Challenger banks are rapidly growing in number and scale, living up to their title of ‘challenging’ current incumbents.

By placing the needs of customers and colleagues at the heart of their operations they have been able to deliver a laser-focus on value in every interaction, building trust and growing lasting relationships. Their promise of frictionless experiences and new innovations delivered at speed have proven alluring for many customers.

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Topics: Banking

Is Facebook’s cryptocurrency a threat to the banking and payments industry?

Posted by Robin Harrison on Jul 24, 2019 3:17:57 PM

Facebook’s recent announcement that it is creating a cryptocurrency called Libra has caused immediate concern for many. This, coupled with their plans to launch a subsidiary called Calibra in 2020 which will develop financial services based on the Libra network, has drawn attention from the President of the United States and the Chairman of the US Federal Reserve, to name a few.

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Topics: Banking

The future of Financial Services: Can the big banks survive and thrive in a digital market?

Posted by Robin Harrison on Jun 28, 2018 12:07:23 PM


Earlier this month Antonio Horta-Osorio, CEO of Lloyds Banking Group UK, gave a speech outlining his vision for how the industry and established banks need to change to ensure they don’t become the latest Blockbuster or Kodak of their industry.

It’s a timely reminder from the CEO of the UK’s biggest retail bank that customer loyalty, and therefore established market positions, cannot be taken for granted anymore. The digital revolution has already transformed industries, from shopping and hotels to taxis and food, and is longing to take a big bite out of the highly lucrative, high margin, retail and commercial banking market .

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Topics: Banking

 

 

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