Today’s bank customer expects (hyper-)personalized advise (the "It’s all about me" trend), i.e. he expects to get advice, which is completely tailored to his specific needs of that specific moment. At the same time, banks are forced to cut costs, meaning 1 front-office bank employee is expected to service more customers than ever before. Automating tasks is the solution to increase the productivity of bank employees, but in order to keep IT complexity acceptable, automation usually comes with simplification and standardization of processes. These 2 evolutions seem contradictory . AI models are considered to be the answer to resolve this dilemma, but these techniques are not fully mature yet. Furthermore AI models often mean that bankers have less control on the expected outcome, which in case of financial advice is not desired by the bank and usually also not desired (or even not allowed) by regulators. Regulators want to make sure that financial advice is always approp
A weekly blog with articles on the future of financial services sector and more particular specifically Fintech, but also on topics, like IT and digitalization and its impact on the world (like e.g. mobility). #fintech #bankingsector #innovation #bankingtechnology