The traditional banker-client relationship has been completely disrupted by the advent of digital banking.
The stereotype of the somber bank manager in a suit and tie solemnly stamping the client’s pile of forms to approve or disapprove a transaction has been replaced with a few clicks on the bank’s website. Visits to bank branches have been replaced by apps, and a personal relationship with one’s banker is often supplanted by connecting to the bank’s customer service center. But the digital revolution is about far more than upgrading a website or creating an app.
It’s about gathering unimaginable amounts of data and the ability to provide real-time analysis, something which is only possible through the implementation of artificial intelligence, or AI.