Retail Banks

In the dynamic world of financial services, Artificial Intelligence (AI) stands at the forefront of a revolution, unlocking unprecedented value for financial institutions. This technology, characterized by its ability to learn and adapt, is not merely an addition to the toolkit of the financial sector; it's a game-changer. By harnessing AI, financial institutions (FIs) are enhancing decision-making processes, optimizing operational efficiencies, and delivering highly personalized customer experiences.

Digital account opening is a top priority at many financial institutions, for good reasons. With loan-to-deposit ratios above or approaching 100%, banks and credit unions can’t afford to lose out on potential deposits due to ineffective or inefficient account opening processes. A “friction-free” process is essential to the digital account opening experience but achieving this goal may be harder than it looks for institutions jumping into the DAO waters.“Not long ago, most financial institutions basically had the same digital account acquisition capabilities. Not anymore. Leading institutions are pulling away. Banks and credit unions that don’t provide end-to-end digital account opening must upgrade quickly.”
– Cornerstone Advisors