CASHING IN can be significantly beneficial when navigating crises such as pandemics and climate change .
As the region ’ s traditional financial services companies face disruption from neo banks , fintechs , and crypto services , AI can help to dazzle customers enough for them to reconsider jumping ship . Today , competitive landscapes are dominated by those who understand , and can move with , customer demands . Personalisation is a natural deliverable for AI , and with thoughtful design , it can be leveraged to provide seamless selfservice experiences .
Knowing the customer is about much more than AML . When that knowledge is deployed throughout an engagement session to make the customer feel appreciated and valued , it leads to the building of meaningful rapport .
Key takeaways
• In an analysis of multi-cloud strategies being employed by financial services entities , KPMG cited data analytics as key driver .
• A wave of innovation is already in full ascent , but transformation programmes are not without their challenges .
• The best way forward has been to create secure staging areas for the testing of analytics models that are monitored through governance .
• Data can be categorised by type and criticality , from which we can derive its priority in backup and recovery .
• Data can be categorised by its level of sensitivity , from which we can derive the roles that can access it .
• Once we have established data access and governance , we must address skills , the shortage of which is a major obstacle to overcome .
• Not every employee is a data expert , and business-embedded analytics , calls for an update in mindset .
• Everyday AI means everyone knows what to do in the case of , say , missing data .
• Institutions have discovered that the AI toolbox can help with more than just predictions and new business models .
• Successful Everyday AI organisations often start with quick wins and move on from there .
• Quick wins include customer analytics and experience enhancement , and process optimisation .
When Everyday AI is in place , financial services business has multiple opportunities within reach . These technologies are already migrating from data labs to real-world business operations . The only question that remains is which organisations will be the last to move .
As long as you can solve the data access problem and establish robust governance , there is no reason your financial services organisation cannot be out in front on Everyday AI , satisfying regulators , delighting customers , and boosting the bottom line . � www . intelligentfin . tech
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