AI has been a hot topic for a while now, and there's no denying its power to shape success across various industries. In the financial services industry, AI's journey began with automation and analysis - which was helpful - but nowhere near its current, expanded reach into creating tailored customer service experiences.
For instance, Generative AI that create highly effective visual and messaging content in minutes and predictive campaign strategies based on machine learning models are two such applications. These innovations that tap into massive data vaults that human brains cannot practically assimilate and use, are revolutionizing banking operations and communication strategies. These are the beginning of yet untapped advantages of AI that extend far beyond these areas for the FIs attuned to the strategic benefits of fully understanding, adopting, and leveraging these technologies.
And this task can be daunting. Especially as banking traditionally focused on prioritizing security and operations. But the rapid evolution of consumer involvement in their own financial journeys meant that many FIs had to come to terms with the fact that they were struggling to keep up with the flexible, innovative methods that result in strong customer relationships and satisfaction.
Preetha Pulusani, CEO of DeepTarget describes the need to bridge this gap in a recent BAI article, saying, “To succeed in cross-selling to accountholders, financial institutions must move beyond traditional, one-size-fits-all approaches and embrace a data-driven strategy that leverages artificial intelligence (AI) and insights.”
Enter AI-powered technologies. This tech and the fintechs that adapt them into workable tools are changing the game when it comes to how banks and credit unions interact with their customers. When packaged into usable applications for well-defined use cases, these technologies enable FIs to offer levels of personalization and responsiveness that significantly enhance the account holder experience and empower people to make better-informed financial decisions. The win is as much for the FI as it is for its consumers.
Pulusani continues, “For optimum results, it is important to use data, actual results, and AI to iterate and improve by continuously optimizing marketing campaigns, product offerings, and customer engagement strategies to maximize results.”
DeepTarget has a team of seasoned professionals that harness the transformative power of AI through a patented Digital Experience Platform (DXP)and Growth as a Service™/GRaaS™ managed services approach that sets hundreds of community banks and credit unions on the path to success. Combined, these take the guesswork out of personalized communications with automation and scalable solutions where FIs of all sizes can leverage the power of AI to strategically compete with top financial brands.
Discover how these game-changing solutions harness the power of AI to redefine your growth trajectory and outpace the competition with deeper customer/member relationships.
