Generative AI for Personalization in Consumer Banking

What Are the Key Use Cases for Consumer Banks and Credit Unions?

Report by Maria Elm  | Sep 26, 2024

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Table of Contents
Why does genAI for personalization matter right now?
What are the key use cases of genAI for personalization?
How should banks and credit unions prioritize these use cases for genAI-fueled personalization?
What else should banks and credit unions keep in mind?
Sources
Media Gallery
About This Report
GenAI gives banks unprecedented tools to create a more personalized experience for their customers, but some use cases are easier to implement than others.
Topics
Banking
Artificial Intelligence (AI)
United States
Table of Contents
Why does genAI for personalization matter right now?
What are the key use cases of genAI for personalization?
How should banks and credit unions prioritize these use cases for genAI-fueled personalization?
What else should banks and credit unions keep in mind?
Sources
Media Gallery

Generative AI (genAI) is making it easier than ever to create individualized banking experiences at scale. As banks and credit unions plan their personalization strategies, they need to understand the customer-facing areas where genAI can deliver the most value.

Key Question: What are the key personalization use cases for genAI in consumer banking, and how should banks and credit unions prioritize them?

How Should Consumer Banks and Credit Unions Prioritize Generative AI (GenAI) Use Cases?
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Key Stat: Almost three-quarters (74%) of US consumers across all generations want more personalized banking experiences, per February 2024 data collected by The Harris Poll for Q2.

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Table of Contents

  1. Why does genAI for personalization matter right now?
  2. What are the key use cases of genAI for personalization?
  1. How should banks and credit unions prioritize these use cases for genAI-fueled personalization?
  2. What else should banks and credit unions keep in mind?
  1. Sources
  2. Media Gallery

Charts in This Report

How Should Consumer Banks and Credit Unions Prioritize Generative AI (GenAI) Use Cases?Top Expected Impacts of Implementing Generative AI According to UK/US Banking and Insurance Executives, Aug 2023 (% of respondents)
Generative AI (GenAI) Use Cases for Personalization in Consumer BankingHow Should Consumer Banks and Credit Unions Prioritize Generative AI (GenAI) Use Cases?

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authors

Maria Elm

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