Unlocking the promise of AI for loyalty in banking

To drive enduring customer engagement, financial institutions must address adoption hurdles like trust and infrastructure readiness, the capabilities to enhance education, anticipatory guidance driven by AI and cross-channel orchestration.

My son started his job right after he finished college, with his first real paychecks and new responsibilities including finding a place to live, financing a car and thinking about the financial impact of proposing to his girlfriend. During one of our regular calls, he asked me a question about a subject school didn’t prepare him for: “What is the correlation between applying for and using credit and my credit score?”

In that brief moment was a world of potential for financial institutions today. An AI-powered mobile notification could sense a prime opportunity for personalized education delivered at a time of need. Evidence of awareness by a bank or credit union at this pivotal point in my son’s life, a tailored video tutorial or interactive chat could empower this new entrant to the workforce with a very important lesson in financial literacy.

Moments that build potential lifelong relationships occur every day – yet banks and credit unions often miss them amidst the transactional aspects of traditional banking. Generative AI promises to help financial institutions create vastly deeper relationships by pinpointing opportunities, then generating the optimal content and engagement strategy for every unique customer.


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