In the era of “Intelligent Banking”, banks like BBVA and Citi are applying AI and autonomous solutions to grow margin and revenue using the most effective channels. Leveraging their data, they hyper-personalize communications and systematically maximize sales conversion. “Intelligent Sales” is not just about business growth, but also about being relevant to their customers and meeting their needs at moments that matter. What should banks do to become more “intelligent”?
According to The Economist: “The banking revolution is great for customers. Finally, banks are giving people what they need”. From the customer’s perspective, the digital evolution means personalized, meaningful recommendations. From the bank’s perspective, digital is a key source of growth. Pure digital neobanks are proud to use algorithms to orchestrate actions and cross-sell in real time. For retail banks such as BBVA, digital sales already account for more than 50% of total sales – overtaking the share of sales from physical branches.
Building an engine of growth requires mastering with intelligence the customer experience across the whole sales funnel: from awareness until the final purchase. This is a key element for an “Intelligent Bank”.