How AI Drives Growth in Bank Marketing


For busy marketers in the financial services industry, finding new ways to streamline the workload can deliver a trifecta of benefits – to the enterprise overall, the teams involved, and the individual customer experience.

As the volume of both offers and government regulations continues to increase, so do the expectations of today’s digitally-focused customer. Those banks and wealth management firms who deliver exceptional experiences, with a focus on time-to-market, are the ones poised to get and stay ahead in today’s incredibly competitive marketplace.

The evolution of bank marketing in just the past two years has ushered in a greater reliance on cloud technology to meet the demands of financial service institutions in growing relationships and revenue. We’re seeing a dramatic increase – by marketing strategy, operations and execution teams in enterprises of all sizes – in the awareness and acceptance of Artificial Intelligence and Machine Learning to support the enterprise’s goals.

image1 ai blogUsing AI as a trusted advisor for compliance in content reviews helps streamline that last mile in disclosure management. The last mile in automation is in the streamlining of the marketing and service disclosures that go out with nearly every piece of customer communication.

Our CEO, Rab Govil, a founding member of AI4all, likes to refer to it as “cutting through clutter.”

The “Why?” of AI in driving relationships, regulatory compliance, and revenue, is clear.

First and foremost, fear not: AI will not replace bank marketing compliance jobs in financial services. To the contrary. Simply put, if you use AI the right way, it enhances jobs, not eliminates them.

AI + Humans = Growth

How does AI drive success for financial services organizations? Here are just a few key ways.

  1. Alleviating the time-consuming minutia of ad reviews
  2. Allowing teams that were tasked with reviews to focus on other marketing initiatives
  3. Leveraging workflow to handle the increasing volume of offers
  4. Securing a better customer experience that expands the relationship
  5. Reducing manual errors
  6. Eliminating risk with traceability and auditability
  7. Avoiding costs from fines imposed by government regulatory compliance failures.

Today’s reality is that artificial intelligence is not going to replace the human review of marketing materials; it will simply enhance it. Allowing AI to do the rote and analytical work can save the really tough (and interesting) stuff for your bank marketing and compliance teams. Think of it this way: if they don’t need to worry about the minutia, what can a sharp marketing mind really be doing? If they don’t need to wonder, “is that disclosure accurate”, what can a terrific compliance person be focused on instead?

image3 ai blogArtificial intelligence is no more than a tool – yes, a sophisticated tool, but really no different than the thousands of inventions in our lives today. Reviewing documents in microseconds and ensuring consistency across thousands of documents are things that, let’s face it, AI does better than you or I.

Does AI need checks and balances? Absolutely. That’s why humans are involved and will likely always be involved. Think of a teenager in Driver’s Training. Even with the brightest, most alert trainee, there is still a trainer, or parent, there to guide and adjust based on conditions. That analogy is also true for artificial intelligence. It is artificial and needs some level of human oversight, but it can enable faster, more accurate delivery and allow your team to focus on bigger picture items.

Think about it. Since the early days of science fiction, people have been worried that automation will replace the human element in many jobs. In reality, the “rise of the machines” is a very good thing. Consider these examples.

We were once concerned that automobiles would mean no one would walk or ride horses or bicycles anymore. But as we know, those modes still exist and have largely evolved into recreational choices rather than a standard means of transportation.

Later on, financial services professionals heard that voice response units and fraud detection tools would wipe out call center and fraud prevention jobs. As we know, those careers are still alive and well. Financial services is still one of the driving sectors of the economy, and this type of intelligent detecting has saved countless billions of dollars in fraud losses.

Meeting Finserv Marketing Challenges

Long before COVID impacted the world, the Naehas solutions team has worked to solve some of the most complex marketing challenges facing many highly-regulated industries. We’ve been at this for nearly two decades, and, while humble, we know our value. Being a trusted partner, collaborating with financial services institutions, wealth management firms and insurance companies to meet the regulatory compliance and customer demands, we’ve earned deep industry knowledge and respect. This is evidenced in the impactful, impressive case studies and satisfied clients who’ve realized results and continue to leverage our industry-leading cloud.

Common martech challenges typically start with a focus on time to market. Rightly so. How to get more personalized offers to customers more quickly in the channels they respond to without putting their organization at risk? Our focus is to help our customers optimize, automate, and achieve greater control over the entire offer lifecycle – from strategy to fulfillment.

Some of these initiatives include:

  • Personalizing more offers and evaluating their success
  • Ensuring a great customer experience in how those offers are fulfilled
  • Managing those offers and their content from creation to completion across multiple channels
  • Reducing marketing review cycles so that offers are delivered more quickly while meeting all brand and regulatory guidelines

Financial service institutions need to find and leverage ways to streamline their processes to accelerate their time to market, while reducing regulatory risk. In our Resource Center, we’ve compiled case studies and solution briefs to exhibit how our clients have leveraged AI to meet their compliance marketing and customer experience goals.

image2 ai blogIt’s great to see the growing interest in industry cloud platform technology, AI and Machine Learning. We’re focused on answering the call for resources and information on innovations that help bank marketing teams meet the increasing demands of their dynamic roles. We hope you’ll seek out these solutions as you continue to meet regulatory compliance requirements, build a better customer relationship, and drive enterprise success.

Risk mitigation in marketing disclosure compliance is crucial. So, too, is flawlessly executing offers, and providing an exceptional experience for each and every customer. AI is a means to those ends.