ING and Deutsche Bank are looking to AI to boost efficiencies and provide personalized banking experiences for their clients.
AI adoption is growing among financial institutions, according to Nvidia’s 2024 State of AI in Financial Services report. Surveying more than 400 financial services professionals, the report found that 91% of financial services companies are using or exploring the use of AI in areas of innovation, efficiency and customer experience.
Historically, efficiency was driven by standardization; now AI allows for personalization and efficiency to go hand in hand, Joanne Hannaford, chief information officer and chief product officer of corporate bank at Deutsche Bank, said at Money2020 Europe on June 4 in Amsterdam.
“Ultimately, the interesting thing about AI is how we can personalize our client experience,” she said.
ING’s Marnix van Stiphout, chief operating officer and chief technology officer ad interim, echoed Hannaford’s sentiment on AI for personalization which allows FIs to offer solutions and recommendations based on specific client needs.
ING taps AI for know-your-customer processes to improve customer experience, van Stiphout told Bank Automation News at Money2020.
AI is “making our service more personalized,” he said.
