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Ai-bank - Coggle Diagram
Ai-bank
Evolution of banking technology
Banks introduced ATMs in the 1960
electronic, card-based payments in the '70s.
2000s saw broad adoption of 24/7 online banking
in the 2010s - mobile apps
AI Technologies in Banking
lead to higher automation
boost revenues through increased personalization of services to customers
lower costs through efficiencies generated by higher automation
improve ability to achieve four key outcomes
higher profits
at-scale personalization
distinctive omnichannel experiences
rapid innovation cycles.
Risks for Banks without AI (competition)
Rising customer expectations as adoption of digital banking increases.
robotic process automation for structured operational tasks; virtual assistants or conversational interfaces for customer service divisions
Digital ecosystems are disintermediating traditional financial services. By enabling access to a diverse set of services through a common access point
Entry of technology giants