{"id":15952,"date":"2021-04-13T14:33:51","date_gmt":"2021-04-13T14:33:51","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=15952"},"modified":"2021-04-13T14:33:51","modified_gmt":"2021-04-13T14:33:51","slug":"the-value-of-ai-in-banking","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/the-value-of-ai-in-banking\/","title":{"rendered":"The Value of AI in Banking"},"content":{"rendered":"<p>Financial institutions aiming to compete in global and regional markets need a well-rounded artificial intelligence (AI)-and-analytics capability stack comprised of 4 main layers: (1) reimagined engagement processes, (2) AI-powered decision-making, (3) enhanced core technology and data infrastructure and (4) leading-edge operating models. Properly integrated, these 4 layers work in unison to deliver value, particularly in regard to:<\/p>\n<ul>\n<li>Stronger customer acquisition processes \u2013 superior experiences that deploy end-to-end automated solutions designed to deliver highly-personalized messages at every step in the journey are increasingly important in a demand-focused market.<\/li>\n<li>Higher customer lifetime value \u2013 engaging with customers continuously and intelligently strengthens relationships across diverse products and services.<\/li>\n<li>Lower operating costs \u2013 the automation of processes makes them easier and cheaper, especially in acquisition and servicing.<\/li>\n<li>Lower credit risks \u2013 more sophisticated screening and the early detection of risky behaviors and fraud improves decision-making and lowers overall risk exposure.<\/li>\n<\/ul>\n<p>Not only are such solution a benefit to financial institutions, they are necessary to offer consumers the products and services they demand. If they don\u2019t find them at one financial institution, they will search for them at another.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-15952 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Startups\u2019 thoughts on the impact of COVID-19'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/startups-thoughts-on-the-impact-of-covid-19\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/05\/Entrepreneur-digitalmeetup-on-How-are-Startups-Gearing-for-the-Post-COVID-World--150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14968\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14968'>\n\t\t\t\tStartups\u2019 thoughts on the impact of COVID-19\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Embracing Innovation: European SMEs Shift Towards AI and Fintech'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/embracing-innovation-european-smes-shift-towards-ai-and-fintech\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2024\/02\/284b4b6d-f572-8852-7f3a-fb642d4ebac51-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-17473\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-17473'>\n\t\t\t\tEmbracing Innovation: European SMEs Shift Towards AI and Fintech\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='BFC FinTech Monitor (27th July \u2013 6th August)'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/bfc-fintech-monitor-27th-july-6th-august\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2021\/08\/819e6471-3bea-4a0b-b472-a9fb4cf0c9321-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-16231\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-16231'>\n\t\t\t\tBFC FinTech Monitor (27th July \u2013 6th August)\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Financial institutions aiming to compete in global and regional markets need a well-rounded artificial intelligence (AI)-and-analytics capability stack comprised of 4 main layers: (1) reimagined engagement processes, (2) AI-powered decision-making, (3) enhanced core technology and data infrastructure and (4) leading-edge operating models. Properly integrated, these 4 layers work in unison to deliver value, particularly in &hellip;<\/p>\n","protected":false},"author":12,"featured_media":15953,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,16],"tags":[],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15952"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=15952"}],"version-history":[{"count":1,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15952\/revisions"}],"predecessor-version":[{"id":15955,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/15952\/revisions\/15955"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/15953"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=15952"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=15952"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=15952"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}