Delivering hyper-personalized banking experiences with real-time artificial intelligence-powered customer interaction engines

Although financial services have entered the “digital era”, their focus has remained on rational and functional aspects such as speed, efficiency, and utility. Digital-first banking has yet to realize its potential to reshape financial services into hyper-personalized everyday tools that extend banks’ engagement beyond simple transactional activities. However, these hyper-personalized banking experiences are made possible by emerging “real-time” financial and contextual data, as well as artificial intelligence. These new offerings create banking experiences that are empathetic to customers’ identities, emotionally satisfying, build loyalty, and improve customers’ quality of lives. In this essay, we outline why and how as the next chapter in digital banking engages emotion as well as logic. We present a vision, an architecture, this new class of banking experience requires. This is our call to arms for financial service leaders.