Embracing Digital Transformation: How Smartphones and AI are Revolutionizing Banking
With the rise of smartphones and the app economy, coupled with the COVID-19 pandemic, an increasing number of people are choosing to conduct their financial transactions online. The change is also making it possible for banks to collect more data, which leads to better, data-driven insights and increased efficiency in credit risk management and customer acquisition. Banking institutions must understand, nevertheless, that digital banking offers more options than only online and mobile banking. Their customer base is larger, and they can accomplish more with the aid of a digital banking platform. Personalization made possible by the omnichannel features of the Digital Banking Platform , which assist banks in facilitating customized conversations across many channels, including voice, web, and mobile, is one such factor encouraging the adoption of the platform. Building and maintaining connections with customers requires banks to provide the appropriate product at the right time to mee...