European Banks to Focus on Customer Relationships to Counter AI
Dow Jones
Oct 01
0741 GMT - The threat of artificial intelligence agents to European bank deposits and pricing is overblown but it could change how lenders think about customer relationships, Citi analysts write. Banking customers will use AI tools, but trust, reliability, transparency and regulatory constraints will limit the use of agents to source banking products. "Instead, we expect to see more customer AI tools embedded within each banks' own digital offering," Citi says. Banking subscription models, which offer discounts and loyalty rewards for tiered fees, are also likely to become more widespread, the analysts add. BBVA, CaixaBank and KBC are the best placed incumbent banks in Europe as they already lead with a relationship-based approach, Citi says.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.