The Role of AI in Modern Financial Services

Imagine having a personal assistant whose task is to prevent you from being a victim of fraud. This assistant tracks and analyzes your spending behaviors, learns those patterns and compares that learned information against any unusual spending. Then, the assistant notifies you immediately if a purchase seems suspicious.

Here’s the good news: this magical assistant is already a reality. Banks have automated AI assistants doing just these very things — helping customers respond proactively to any suspicious activity.

In fact, artificial intelligence’s use in banking has been around for years. AI is continuing to change the landscape of how financial service professionals approach fraud detection and regulation or compliance. According to Deloitte, banks were previously relying on traditional transaction monitoring methods, but they are now using AI to approach fraud detection proactively. This proactive approach is key during a time when compliance is integral to building trust.

How AI is Changing Financial Services

From fraud security and detection to analysis and underwriting, artificial intelligence is making the lives of those working in the finserv space easier.

But how can AI help financial services marketers? Here are a few key ways in which AI can help:

Customer Experience and Personalization

According to our ON24 Financial Services Digital Engagement Benchmarks Report, B2B marketers are leaning on AI to help scale marketing campaigns. In fact, financial services companies experienced a 4.6X increase in total volume of AI-generated content. AI can help marketers easily repurpose personalized content for content hubs.

But simple content repurposing is not enough. In order for finserv marketers to provide branded experience across all digital touchpoints, they need to leverage first-party data insights. And first-party data is becoming more available due to higher levels of engagement.

Process Automation

AI can help B2B marketers increase audience engagement through automated engagement processes. Here’s how it works:

• • AI can help finserv marketers identify high-intent accounts and individuals.
  • Then, AI can highlight and extract the most engaging information from webinars.
  • Using prompts, AI can generate emails and subject lines that marketers can then send to these high-intent accounts via personalized virtual invitations.

Generated promotional copy including landing pages and social media posts can also help drive audience viewers towards highlighted webinar moments.

Why FinServ Marketers Should Fit AI Into Workflows

Boost Brand Loyalty and Trust

Personalization is just one way marketers can drive engagement. AI is also key in helping finserv marketers provide on-demand options and continuing education opportunities for audience members. For example, our benchmarks report shows 39% of viewers watch webinars on demand via content hubs.

And with a 79% increase in resource downloads per visitor, it’s clear that providing a well-stocked content hub is key to continuing engagement, and building brand loyalty.

Brands need to scale their content generation abilities to meet this demand. Artificial intelligence can help by generating repurposable content from webinars like blogs, e-books, and webinar summaries.

Audience members can trust brands that continue to provide the tools, reports, and content they need to achieve their continuing education goals, and advance in their professions.

Scale Content Strategy

AI can help marketers continue to improve content strategy, particularly in generating webinar transcripts. Our benchmarks report shows that there were 10x more automated transcript requests across the financial sector.

AI can also help localize webinars to non-English speaking communities, making it easier to adopt content to a regional context.

How ON24 Can Help Drive AI-powered Transformation

AI can rapidly generate new content, allowing finserv marketers to keep up with their audience demands. Personalization at scale is easy with AI helping to analyze customer behavior and trends to identify specific needs. Our benchmarks report shows a 3x increase in upcoming webinar registrants per page as a result of personalized experiences.

ON24’s AI-powered Analytics and Content Engine helps finserv marketers automate insights and nurture relationships with audience members. For example, Key Moments can point out questions asked, emoji reactions, and polls answered, identifying a heat map of where audience members were most engaged with a financial service webinar.