Hyper-personalizing European banking experience with AI

European consumers continue to bank with traditional institutions, but many are clearly less satisfied with the experience. Earlier this year, a leading digital banking platform provider published the results of a survey of 6,300 online banking users across Europe.

Although 82 percent of respondents used a traditional bank as their main provider, 26 percent had switched banks in the past because of poor digital services, and would not hesitate to do so again. Also, 47 percent said that they would feel more satisfied if their bank improved the quality of digital services. Customers specifically called out personalized recommendations in this context.

EVP and Industry Head of Financial Services and Public Sector at Infosys.

What do customers want?

With the digitalization of banking, seamless transaction experiences have become the norm, standardized across banks with little to differentiate them. Digital channels are efficient, but impersonal. For the majority of customers, they are...

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