If so, what would it look like? And what is contextual corporate banking?
A contextual bank is not filled with robo-bankers. Advanced AI banking focuses more on adding value instead of administration. In the next 10 years, AI will dramatically change the nature of corporate banks and their customers while reshaping competition. Celent analyst Alenka Grealish and iGTB Head of Digital Banking Herber de Ruijter present advanced AI use cases to:
· Reduce operational inefficiencies & risk
· Enhance data analytics
· Improve customer engagement
· Avoid pitfalls of dynamics underpinning success
· Ultimately drive revenue growth
AI techniques have been around for decades but the technology to harness them was lacking. A confluence of forces is enabling advanced AI applications in banking to reach new heights. Faster, cheaper computing power. Cloud data storage. New data sources. Advances in machine learning. Open source initiatives. Contextual banking platforms. Thanks to these advances, banks and their 3-party providers are reaching several AI summits as part of a broader digitization strategy… giving rise to the contextual corporate bank.