How Artificial Intelligence Can Enhance Mobile App Banking Experience

Speaking of the untapped potential that Artificial Intelligence wields with respect to revolutionizing the future along with cloud computing, robust open-source software and the such, all types of industries are getting benefitted. Speaking of this one notable example is the Banking Sector.

Noe speaking of Artificial Intelligence its power can be leveraged for virtually anything be it a normal application or a powerful learning algorithm. Here the main thing that occurs in the background is that the machine intelligence must be capable to handle everything similar to how a human brain actually thinks and handles things.

On a consistent basis, featured are the latest news about revolutionary progress made by Artificial Intelligence to accomplish any type of complex task. Taking this into account it is evident in the case of the big guns like Amazon and Siri.

According to what the renowned McKinsey Global Institute had to say AI is categorized into computer vision, digital assistants, robotic automation, natural language and last but not the least Machine learning. It also predicted by 2030 almost 70% of the enterprises across the world would have embraced any one of the categories as associated with Artificial Intelligence.

Speaking of banks, the truth is that they have just started to embrace the power of AI. Coming to the banking domain around 32% of the executives revealed that they have incorporated AI technologies comprising of Voice Recognition, Predictive Analysis and the such. All the long-established Banking organizations are realizing that AI is mandatory if they want to survive and maintain their long-lasting legacy in the competitive market.

When it comes to Mobile App technology and Artificial Intelligence joining forces, the result is a more customized and robust product. An example of this is once again Apple’s Siri Shortcuts which debuted with iOS 12. You can get typical work done with relative ease via intuitive search queries and voice commands as well. It offers useful shortcuts by analyzing the user’s behavior with the mobile app. When coming to the Banking sector, this amalgamation can help the customers to get notified at the most appropriate time. Voice Technology can create an even powerful user experience. The power of AI combined with AI can definitely help a bank customer to come back for even more from that bank.

 

Ways how the mobile app banking experience can be customized via the power of AI:

(i)Enhanced Customer Support:

The present millennials feel that the banking experience via mobile apps have to be on par with the ones featured in Amazon and Netflix

Accumulating the user-centric behavior-related data from the mobile device and analyzing that data via Artificial Intelligence can help the users to access what they exactly they want with no effort and loss of time as well. This is applicable if you want to reach the precise customer care agent who will address your queries.

 

(ii) No more monotonous manual Transactions:

AI can allow the users to pay all their bills and carry out transactions as per the precise due date via the mobile app. It closes the era of manually done tedious transactions.

 

(iii) Customized Notifications:

The mobile app can be made to send notifications to the users on a timely basis regarding their account balance which can help them to understand if they are actually doing a lot of expenses. These notifications can also be used to remind the users if they need to pay anything pending and also to be prepared to handle expenses that will arise in the future.

When it comes to enhancing the customer experience offered via a Banking Mobile app, the need of the hour is being precise and very speedy enough as well. The experience offered is way ahead of what the established organizations in this domain provide.

Speaking about how AI can help Banking in the times ahead

Initially implemented into the Banking sector for handling risks as well as eliminating fraudulent activities and for deeper analysis regarding all the transactions, AI has now made Banking that cool. Thereby a mobile app infused with the power of AI can simplify the financial life of the bankers that effortlessly and instantly as well.

 

Author Bio:

Pyramidion Solutions is a mobile application development company based in Chennai which has become a forerunner in introducing the power of Artificial Intelligence in Mobile Apps so that you as an entrepreneur can provide even better services via mobile apps in order to maintain supremacy in the competitive market.