In a world where Siri, Alexa, and Google Assistant are as commonplace as toasters and televisions, artificial intelligence (AI) has started to feel more like an old friend than a new frontier. However, when it comes to the complex domain of banking and financial tech, AI is about to take us on a journey that would make even the Jetsons double-take. Meet Leo Goriev, Co-Founder of Alty Inc. and CEO & Founder of Card Blanch – a visionary with the map to this brave new world.
Under Leo’s guidance, Alty Inc., has become an award-winning powerhouse, navigating boldly through the digital transformation of financial services. With over a decade dedicated to studying the sector’s pulse and development, Leo underscores how AI is poised to redefine customer satisfaction in banking and fintech. Let’s dive into the trends Leo believes will redefine the industry.
First on the list is improved onboarding. Imagine the fuss of paperwork and verification melting away as AI streamlines the process using automatic text, voice, and video verification to drastically reduce the time required to onboard new customers. No need for lengthy questionnaires. Instead you get an immediate customization of individual credit offers.
And the teaching element, where AI acts as a personal financial guide, making complex information digestible. Think of user-friendly apps that educate customers on financial transactions and provide assistance like password recovery. Isn’t it cranking up interface efficiency? I bet it does.
Personal financial management (PFM) is another area that’s getting smarter thanks to AI, offering custom advice and insights based on deep customer’s data analysis, to help you manage your money more effectively for financial health improvement, savings planning, and efficient fund usage.
Personalization plays a big role here too, with AI crafting a more personalized approach in optimizing tariffs and services specifically “under the client”, as well as reducing marketing costs and enhancing interface efficiency.
Security and speed are also central to the AI shift. Imagine lightning-fast transactions and impregnable defenses warding off cyber threats – that’s the promise of AI in banking due to its ability to analyze large data volumes with automation and sophisticated algorithms. I guess all the banks should consider this aspect one of the most crucial in their future transformation.
And then there’s customer support, with AI recognizing questions instantly and providing accurate responses without waiting on hold for what feels like eternity. For example AI can expedite lending decisions which today may last weeks and months.
Voice control is the cherry on top, bringing a hands-free aspect to banking that resonates with our desire for convenience and accessibility.
As the line between traditional banking and fintech blends into a seamless ribbon of interactive, intelligent, and highly personalized services, the allure of AI in this industry becomes undeniable. I think the potential for AI to influence the fintech space is akin to the ‘Internet revolution’ – transforming, empowering, and reshaping how we interact with our finances.
With over 200 projects under its belt, Alty Inc. partners with Mastercard and proves that the company isn’t just riding the wave of innovation – it’s creating it.
Due to Leo Goriev, the key is to “Innovate for tomorrow,” ensuring products not only meet today’s needs but forge ahead, creating a pathway for a future where technology empowers consumers. Do you agree?
Now that you’ve glimpsed the future of banking and fintech through Leo’s perspective, the only question left is, do you agree with this point? Subscribe for Alty’s news updates and add your comments and forecasts on AI development following company’s website and Leo Goriev’s LinkedIn.
Published by Khy Talara
