It is already a reality that, for some time now, carrying out procedures through the app banking is simpler and more convenient than ever before. Gone is the obligation to go to the office to solve certain procedures. Now, we receive personalized advice – which was previously reserved only for large clients – in just a few minutes and without leaving home. And all this is possible thanks to the fact that artificial intelligence (AI) is turning the traditional panorama of the financial industry inside out like a sock, transforming both the relationship between entities with their clients and the internal operations of the organizations themselves. From process automation and service personalization to advanced risk management and fraud prevention, AI offers unprecedented opportunities to optimize efficiency and enhance the user experience in the financial sector. That is, practically all users.
However, not all entities are equally prepared to take advantage of this potential. The large players in the sector, with resources and global reach, have a unique strategic advantage to lead this technological revolution. In our country, Santander Bank is one of the entities that demonstrates how a global financial institution can effectively integrate AI to address current challenges and prepare for the future. With a strategy that combines short- and long-term actions, the bank explains that they are already using this technology to improve their operations, strengthen their position in the market and, above all, provide added value to their clients.
AI in the present: with low lights for immediate results
From a short-term perspective, the Santander It already has several AI-based applications that are generating tangible results. “Everything that has to do with the customer experience, the contact centers and the personalization of experiences are lines of work that are already reaching our clients and are generating value,” explain those responsible. “Virtual assistants not only optimize customer service, but also allow us to resolve queries in real time, improving the experience of our users,” they add.
This approach not only reduces waiting times, but also frees up resources so that bank professionals can focus on more complex tasks or tasks with greater added value for clients.
Another good example of what AI already does for Santander clients is, in the opinion of the entity’s specialists, the Openbank digital broker, a 100% digital bank that also belongs to Santander. This broker uses AI-based analysis models to provide price targets for over 1,000 stocks. Thus, the tool helps clients make more informed investment decisions, democratizing access to key information.
Looking to the future: bright lights for strategic changes
Banco Santander’s medium and long-term strategy focuses on exploring how AI can transform the operations of an organization of its scale. “We are developing our own technology to make the development of softwareapplications and processes”, they explain from the entity. Thanks to AI, the bank is achieving a significant improvement in the quality and productivity of its digital tools, allowing it to quickly adapt to market needs.
The idea of increased employee is another pillar of this long-term strategy. According to those responsible for the bank, AI is providing professionals with additional capabilities that allow them to perform their tasks more quickly, accurately and creatively. This approach not only improves individual performance, but also opens the door to new opportunities and areas of work that were previously unthinkable.
Also especially relevant in this process is the redesign of the bank’s operating model. With a presence in multiple countries and a complex organizational structure, Santander uses AI to optimize critical processes that have a direct impact on its income statement. In addition, technology allows the entity to comply with regulatory requirements more efficiently, a crucial aspect in a globalized financial environment.
Global scale as a key strategic advantage
Global scale and presence is a fundamental pillar to be able to successfully carry out this commitment to artificial intelligence. “We are working on everything with a strategy aligned with all the countries we are in and under the model of a common platform that is at the service of everyone,” the entity highlights. This approach allows the bank to maximize synergies between markets, share resources and knowledge, and ensure that the solutions developed are adapted to the specific needs of each region.
Pending challenges of the technological revolution
Of course, just as AI adoption presents enormous opportunities, it also brings significant challenges that the financial sector must address. “If we do not regulate its use properly, we could see negative consequences in the form of volatility in the markets caused by excessive concentration of data, cybersecurity vulnerabilities or dependence on non-transparent models,” warn industry experts.
Therefore, to guarantee a responsible integration of AI, it is essential to have regulation that prioritizes transparency and security. Protecting user privacy and guaranteeing ethical use of data are essential requirements to maintain trust in the financial system, especially in the context of increasing digitalization in which we live.
A future powered by AI
In an already digitalized world, financial institutions that manage to integrate AI responsibly and effectively will not only lead the market, but will also contribute to building a more robust and reliable financial system. Santander works so that, with its strategic vision and its commitment to excellence, it is possible to convert the challenges of the digital era into opportunities for growth and transformation. Everything, with a fundamental objective, its managers emphasize: “to offer a better service to our customers.”
#artificial #intelligence #revolution #reaches #banking #entities
