AI in Financial Services Podcast Essentials for Leveling-Up Strategy with AI - with German Soto-Sanchez of Broadridge
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Jul 29, 2024 German Soto-Sanchez, Chief Product and Strategy Officer at Broadridge Financial Solutions, discusses how AI is reshaping strategy in financial services. He highlights the need for personalized customer experiences and operational efficiency while navigating legacy systems. German emphasizes the importance of leveraging untapped data to enhance customer relations and compliance. He also outlines strategies for small to medium-sized financial institutions to integrate AI, noting blockchain's significant role in modernizing workflows. Tune in to grasp the future landscape of finance!
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AI Enables Real-Time Personalization
- Evolving customer expectations are a key driver for AI in financial services.
- Customers demand personalized, integrated experiences in real time, which AI enables at scale.
Unlocking Hidden Data Potential
- Firms often access only about 20% of their data, missing valuable insights.
- AI can unlock data in risk, compliance, and workforce documentation for operational benefits.
AI as a Flashlight for Risks
- AI acts as a flashlight exposing hidden inefficiencies and risks in legacy systems.
- Financial firms must proactively address these realities to stay competitive.