As reliance on technology continues to increase, the pace of expectations will not be slowing down, and competitors will only be getting smarter and more tactical. AI will become an essential tool for driving both operational efficiencies and account holder engagement in digital banking. However, for financial institutions to fully realize AI’s potential, they must also address the trust gap with consumers through strong data governance policies and steadfast compliance with current and future regulations. This requires transparent communication about how AI is used, especially in areas such as data security and personalization, which are top concerns for digital banking users.
The path forward is clear: banks and credit unions that embrace AI not only for operational efficiencies but also for personalizing the customer experience will be best positioned to thrive in the competitive digital landscape.
To dive deeper into the findings mentioned above, and explore how AI can transform your institution, download our full report on the Application and Consumer Perception of Artificial Intelligence in Banking here, or visit Alkami.com for more information.