The lack of customization bank offer is the second reason why customers decide to change entities, only behind the commissions. These data have been collected by the latest research of Bionline, a company specialized in the use of artificial intelligence to increase sales in sectors such as banking.
Through this study, the technology firm wanted to know the concerns of users in relation to personalization in the commercial offer and communications of the banking sector. This has made it possible to draw important conclusions, such as the need to continue working on the development of a more individualized and digital bank that increases user satisfaction.
In this sense, José Manuel Narciso, CEO of Bionline, defends the use of HE in banking to offer “unprecedented personalized experiences for each customer, increasing their satisfaction, their loyalty, and also maximizing the value of their life cycle”.
The data confirms this, since more than half of the clients would positively see their bank using AI to personalize the offer.
In fact, the lack of customization It is not only the second reason for abandoning a bank, but 55% of users consider that the adequacy of the banking offer is the main reason for continuing to trust an entity. Thanks to AI methods like the machine learning, a personalized offer can be developed for each customer based on their interests, their past behavior and also their credit score. Information that would be unattainable by using other tools.
This customization also has a fundamental weight for clients when deciding to hire the services of one entity or another. The study shows that segmented and personalized communications are the medium with greater influence over customers banking finishes only behind the referrals of acquaintances. And even ahead of the information and opinions expressed about these entities in the general media.
AI, key in personalizing the banking offer
However, of the users surveyed in the study, 30% consider that their bank still does not offer any personalization in the services and products it offers. The implementation of systems Artificial intelligence with machine learning, it would make it possible to offer this individualized service to 100% of bank customers, thus increasing the satisfaction rate. This current lack of personalization has also been reflected in this research through data such as the fact that almost half of those surveyed do not see the generic information they receive in communications from their bank as relevant.
On the other hand, the research has also served to demonstrate the change in trend of the banking sector towards digitization. It is known that the pandemic Covid-19 has accelerated this process of transformation in numerous economic sectors. In fact, nearly 42% of those surveyed claim to have increased the use of the mobile application of your entity since the start of the pandemic. Even 30% dare to assure that they have reduced their visits to physical entities during these two years. In the present and future of banking, personalization and digitization go hand in hand.
In addition, the report defends the idea that the implementation of Artificial Intelligence in banking management will also bring great benefits at the business level to entities. In fact, a study of Business Insider Intelligence This is confirmed and estimates that banks could save 447,000 million dollars in 2023 thanks to the use of AI. Narciso also points out that “in addition to personalization, AI helps banks in important aspects such as detecting bank fraud or making investment decisions.”