Limited Accessibility: Geographical reach of the branch network, and also the timings of the banks do not synchronize with the requirements of the customers all the time.
One-size-fits-all Customer Service: Traditional models often lack in offering customized financial advice.
One-size-fits-all Information Donation: Most of the time, banking applications usually display information to the customers based on a one-size-fits-all approach rather than aligning it with the financial goals of every individual customer. AI steps in here. AI-driven banking advisors can resolve this with:
24 x 7 Availability: AI-driven virtual assistants are always available anywhere and at any time, thus befitting continuous customer support.
Hyper-personalization: AI analyzes customers based on their data to create their mapping with respect to financial habits, goals, and risk tolerance.
Tailor-made recommendations and insight on finances can thus be given to each individual customer.
Proactive Support: It can second-guessingly know what customers may require, then go ahead to give relevant financial products or services. Now imagine getting an alert for a savings plan in regard to your recent spending habits.
