Transform your financial institution's overwhelming data into actionable insights, enhancing efficiency and marketing efforts, and driving strategic success with AI-powered analysis from Autopilot.
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For many Americans, swiping a debit card has become second nature. Getting gas? Swipe. Buying groceries? Swipe. Need cash? Swipe.
In fact, it's estimated that there are more than 86 million debit card transcations processed every year and the average person makes about 68 payments each month. That’s a lot of information that is valuable to your financial institution. Using Artificial Intelligence, financial institutions can revolutionize the way they use data to increase the bottom line.
In 2024, your financial institution is sitting on a gold mine of data, but due to the fundamental infrastructure of modern banking, accessing that data can be frustrating or nearly impossible. Not to mention that many bank departments are a one-person show, so having the time and resources to drudge through transaction data makes marketing efforts nearly impossible.
Of course, you could turn to a third-party data processor, but are they going to be able to deliver the insight you need to truly make a difference? Do they have the domain knowledge, experience and technology to tell you what you don’t already know or to discover a trend you might not see?
Here at BOND.AI, we recently partnered with a state banking association to analyze their member institutions. In 2024, most banks say they want to focus on deposits. Autopilot showed us that many of these banks doubled their loan growth, but 17 of those institutions not only didn’t grow deposits, but lost deposits. Many of those banks didn’t know they were increasing loans twice as fast. Autopilot can help identify, react, and sell products matching institutional goals.
"Autopilot gives financial institutions the tools, the insight and the clarity they need to market more effectively and reduce marketing expenses."
Autopilot is designed in a way to show what is truly important to the financial health of the FI and where the “low-hanging fruit” of their customer base is. For example, if the FI saw a need for high-yield savings accounts, it could easily target the appropriate consumers with a campaign.
Our Autopilot data analysis takes advantage of the power of the Empathy Engine®, and FIs can really drill down to target consumers like never before. Consumers are demanding more and more personalized services, and they expect it. Autopilot gives FIs the tools, the insight and the clarity they need to market more effectively and reduce marketing expenses.
This is just the start of how FIs can use the Empathy Engine®. With future development, we will add even more fantastic features that will reshape how people bank forever.
Ready to see more? Click here for your free Autopilot trial.
Kent Llewelyn is CPTO of BOND.AI. Always a forward-thinker, Kent has driven BOND.AI’s global development teams to increase innovation and adoption of BOND.AI’s Empathy Engine® artificial intelligence and meet the demands of modern banks, credit unions, and fintechs.