■ Banking
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technological innovation within the banking industry over the past 20 years . Customers can now execute numerous transactions on demand with a mobile app . Many customers haven ’ t seen the inside of a branch in years . Technological innovations allow money to be moved instantaneously when it used to take days . For Provident Bank , the goal is to give the customer a choice in how they wish to transact business . Do you still want a traditional experience with a branch where you know your banker and enjoy maintaining a relationship ? Great , branches aren ’ t going away . Alternately , do you want the convenience of being able to self-serve with the bank where you want , when you want ? If so , we have a world-class mobile app at your disposal . Do you feel you need to call our Customer Care call center ? Excellent , we can help you . While providing choice is imperative , banks must maintain a holistic strategy that views each channel as simply entry points into a cohesive ecosystem where a consistent and engaging customer experience is maintained .
Valley Bank By Robert Bardusch , Senior Executive Vice President , Chief Operating Officer
Artificial Intelligence ( AI ) based virtual assistants are enabling people to perform routine daily
activities with simple voice commands . As we begin to enter a world of autonomous vehicles , Smart Homes and Smart Cities , we ’ ll really see the immense potential for reinventing the way we do some of our most basic tasks — including banking . Banking is ripe for an AI evolution , and many companies are already heading in that direction . Imagine a scenario where you ’ re discussing buying a new home over dinner with your better half . The conversation could really gain traction if a virtual assistant could find your savings information , calculate your debt load
Banking customers — from the young to seniors — are embracing online banking .
and payment budget , check your credit history , pull interest rates and prequalify you for a loan . All of this could be possible in the future with virtual assistants , the Internet of Things ( IoT ) and AI . More will need to be done to overcome public opinion around security , privacy and confidentiality for AI banking — and voice banking in particular — to hit the mainstream . Expect to see lots more research and development before widespread banking applications are available . It will be interesting to see how this technology
progresses and how the industry will balance services with security for voice banking tools .
Wells Fargo By Toby Babeuf , Commercial Banking Leader , Northern New Jersey Middle Market Banking
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