The Tech-Powered, Human-Centric Future of Banking: Key Insights from the American Banker Conference
The American Banker – Digital Banking event in Boca Raton, FL, on June 24th-25th brought industry leaders together to explore the future of financial services. Here are some key takeaways:
AI Transformation – An Enterprise Journey That Needs All of Us
Sathish Muthukrishnan, Chief Information, Data, and Digital Officer at Ally Financial, emphasized that AI implementation, including generative AI enhancements, should be an enterprise-wide initiative. His keynote covered how organizations can start exploring AI, who should be involved, and the critical need for a collaborative approach across the entire organization. He stressed the importance of involving everyone from top leadership to customer-facing team members, partnering with control groups like Compliance, Risk, Audit, and Legal, and creating an enterprise-wide AI playbook and governance structure.
The Cloud-First Bank of the Future
Experts emphasized the advantages of cloud adoption, such as scalability and cost-effectiveness, and stressed the importance of a strategic roadmap for successful implementation. The vision of future banking integrates advanced technologies with a human touch, prioritizing personalization and customer-centric approaches.
Leveraging Zero-Party Data + Conversational Tone for Enhanced CX
Roundtables focused on using data intelligence to improve digital banking experiences and foster business growth, highlighting the next generation of customer experience (CX) strategies.
Informal discussions after sessions centered on human-centered design and creating more conversational, less transactional digital experiences. Synovus Bank highlighted this approach by using conversational language and tone in customer experience testing which led to a significant increase in engagement compared to mere transactional alerts.
Embracing Human Connection in a Digital Age
A key theme was the importance of genuine human interaction. Customers prefer meaningful communication over impersonal sales pitches, and banks should focus on strategic content that resonates with customer needs.
The event emphasized a balanced approach, integrating advanced technology with a focus on personal connections. By doing so, banks can build deeper, more personalized relationships with customers, fostering trust, loyalty, and long-term success in the competitive financial landscape.
About Flybits:
Flybits revolutionizes how financial institutions deliver personalization. Their award-winning framework simplifies the connection between financial institutions, their data, and their customers. Flybits’ platform accelerates the delivery of critical use cases with minimal IT intervention, empowering digital teams to seamlessly deliver data-led insights across all channels. Supported by leading fintech investors including Point72 Ventures, Mastercard, Citi Ventures, TD Bank Group, and Information Venture Partners, Flybits has offices in New York, London, and Toronto.
