SmartBanking AI

AI in Financial Services

Banks have all the data they need to understand their customers, but they often struggle to uncover insights that can drive personalized service and deeper relationships. AI in financial services can close the gap.

SmartBanking AI

20%-30%


boost in profit

30%


savings

14%


churn reduction

About SmartBanking AI by BCG

When it comes to being customer centric, banks have an advantage: a trove of data, everything from transaction histories, product usage, and risk profiles to online searches and campaign responsiveness. But they also have disadvantages: legacy technology, data scattered across the organization, silos instead of synergies. This makes it hard to create a comprehensive customer view—let alone to leverage AI in banking solutions.


SmartBanking AI from BCG addresses these challenges head-on, making it simpler to bring data into a single platform, apply the latest technology for AI in financial services, and reach out to the right customer with the right action, when and where it matters.
 

FEATURES

How SmartBanking AI Works

An advanced analytics engine—leveraging cutting-edge technologies like generative AI—powers a broad range of AI banking use cases. But no matter which features they use, bankers will always see an intuitive interface and an accelerated path to value.

Benefits

The Benefits of SmartBanking AI

Financial services is about relationships. Bankers—in particular, relationship managers—continually strive to better understand and engage their customers. Deeper relationships are more effective—and more rewarding, for bank and customer alike.


SmartBanking AI creates visibility by consolidating customer information from different departments and systems (including data on products, transactions, behaviors, and interactions) onto one central platform. Then it leverages that data to do even more:

How it Works

Our Unique Approach to AI in Banking Solutions

Through tailored machine-learning algorithms, SmartBanking AI unearths the treasure within your data, delivering qualified leads, attrition alerts, early credit risk warnings, and much more. It helps banks see patterns and respond with foresight and precision, working with—or even around—existing IT environments. Unique features accelerate the journey:

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A Modular Approach

A Modular Approach

Speed and personalization are not mutually exclusive. Prebuilt components (ready-to-go libraries of algorithms, tools, and APIs) allow a quick launch of our AI in financial services solution. Fully customizable modular building blocks, covering the spectrum of AI use cases in banking, let banks prioritize business lines and functions while adding new capabilities.

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Two Engagement Models

Two Engagement Models

SmartBanking AI is designed for maximum flexibility. For banks that can manage an internal capability, we provide an in-house build supported by BCG. For those that cannot bring AI banking in-house, our subscription-based analytics service implements SmartBanking AI on BCG’s secure cloud platform.

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Intuitive Insight

Intuitive Insight

SmartBanking AI is customer centric and banker centric, presenting insights in an easy-to-digest manner. Relationship managers get visibility but also transparency: insights are accompanied by the data observations that support them.

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Built for Mass-Market Banking, Too

Built for Mass-Market Banking, Too

While SmartBanking AI can transform one-on-one interactions, not every customer needs a relationship manager. Our solution also supports at-scale personalization capabilities, generating insights that can be applied on a broader scale.

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A Modular Approach

Speed and personalization are not mutually exclusive. Prebuilt components (ready-to-go libraries of algorithms, tools, and APIs) allow a quick launch of our AI in financial services solution. Fully customizable modular building blocks, covering the spectrum of AI use cases in banking, let banks prioritize business lines and functions while adding new capabilities.

Two Engagement Models

SmartBanking AI is designed for maximum flexibility. For banks that can manage an internal capability, we provide an in-house build supported by BCG. For those that cannot bring AI banking in-house, our subscription-based analytics service implements SmartBanking AI on BCG’s secure cloud platform.

Intuitive Insight

SmartBanking AI is customer centric and banker centric, presenting insights in an easy-to-digest manner. Relationship managers get visibility but also transparency: insights are accompanied by the data observations that support them.

Built for Mass-Market Banking, Too

While SmartBanking AI can transform one-on-one interactions, not every customer needs a relationship manager. Our solution also supports at-scale personalization capabilities, generating insights that can be applied on a broader scale.


Who Benefits from SmartBanking AI by BCG


Impact

Our Clients’ Success in AI Banking

Our Experts

Our AI in Financial Services Consulting Team

Our AI banking experts help clients seize the full potential of AI in banking solutions by taking a holistic approach to building the right capabilities and operating model.

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Stiene Riemer

Managing Director & Partner

Munich

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Michael Widowitz

Managing Director & Partner

Vienna

Cesar Torres

Cesar Torres

Managing Director & Partner

Boston

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Kiran Konanur

Managing Director & Partner

Toronto

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Michael Strauß

Managing Director & Partner

Cologne

Pieter-Van-den-Berg.jpg

Pieter Van den Berg

Managing Director & Partner

New York

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Marc Pauly

Partner & Director

Frankfurt

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Christian Wagner

Partner & Director

Frankfurt

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