Will AI revolutionize the financial industry?

Last week, we hosted the Netcetera Digital Banking Summit in Zurich for the first time, and it was a great success! The main focus was on whether AI will revolutionize the financial industry. Netcetera has been working to meet increasing demands for AI-based solutions in its diverse markets in the last months. To meet those demands, we launched the AI Center of Excellence! ??

This newsletter explores how AI reshapes the Digital Banking scene. For example, we discuss how AI-driven banking chat-bots can improve financial inclusion and accessibility. ??

Did you know that 32% of online transactions in Germany fail due to consumer friction? Let's not underestimate the importance of smooth online checkout experiences and revisit this topic. ??

So, let's dive in!

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?? Netcetera launches AI Center of Excellence with lead Fatima Taki

Strategic step in further driving business-relevant and secure AI-based solutions

?? How AI-based banking Chat-bots can improve financial inclusion and accessibility

Integrating AI into banking demands a responsible approach, emphasizing inclusivity and accessibility. Explore the pivotal role of an AI-banking Chat-bot in enhancing financial literacy, inclusivity, and regulatory compliance, particularly in the European Region.

?? Learn how to host generative AI models on your own infrastructure in this video .

??How to ensure compliance and privacy topics are covered in AI-based banking applications

AI-driven Digital Banking solutions present exciting opportunities, ranging from enhanced customer service to personalized experiences. However, safeguarding customer data while employing Generative AI poses a critical challenge for banks.

?? The evolution of payments is driven by customer demands – with OOB authentication, consumers feel safe

According to research published in Payments Cards & Mobile , one of the main reasons for customer friction is the complex authentication processes. It’s estimated that if this problem is resolved it could drive an increase in merchant sales of up to €18 billion.

?? Slow check-out and customer friction cost too much – it’s time to change

Almost one in three (32%) online transactions in Germany fail due to consumer friction during check out. It’s time to rethink approaches to authentication.

Recommended reads

?? From Challenge to Success: Erste Bank’s 3-D Secure Journey;

?? Digital Banking Knowledge Hub - Browse our library and find the topics that interest you, in the format you want;

?? Preparing for AI banking revolution by American Banker - Banks are proceeding with caution as a new generation of AI tools arises;

?? How is generative AI democratising the availability of banking services? .

Before you go, contact one of our experts to discuss the best choices for your business.

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