Data & AI for Financial Services

By 2023, 90% of banks report that integrating AI into customer service solutions has enhanced user experience.(MarketSplash)​​ (Meniga)​.

Financial institutions deploying chatbots have achieved a 30% reduction in customer service costs, resulting in savings of over $8 billion annually​.

AI systems have reduced fraud detection times by up to 70%, with some banks reporting a 50% reduction in fraud-related losses.​ (McKinsey & Company)​.

Predictive analytics has enabled banks to reduce loan default rates by 20%​​.

Robotic Process Automation (RPA) is leading to a 40% reduction in processing times and a 50% decrease in operational costs.​ (McKinsey & Company)​​ (Meniga)​.

Error Reduction: AI and automation have reduced human errors in financial transactions by 37%, enhancing accuracy and reliability in operations.