Rui Gonçalves from KPMG Portugal says AI is key to Portuguese banks changing how they work and serve customers. One way AI is being used now is to make loan applications easier by automating everything from entering data to getting approval with less need for people.
But AI does more than just automate. Gonçalves says banks are changing from being separate entities to working with others such as fintech companies, universities, startups, and tech firms. This helps them come up with new ideas faster and get new skills. For example, Millennium BCP has an AI Academy with Nova SBE, Novobanco has projects with Microsoft, and Santander is working with OpenAI.
How Portuguese banks are using AI:
- Customer service: Chatbots, virtual assistants, custom suggestions, and online onboarding.
- Operations: Automating processes, opening accounts, approving credit, and preventing fraud.
- Customization: Giving real-time, AI-based suggestions for products like credit cards, savings, or investments.
How AI is changing banking:
- From banks that work alone to open systems: Working with outside partners to develop quickly.
- Automation and customization on a large scale: AI handles regular tasks while giving services made for each customer.
- Moving to customer-focused methods: AI allows smarter, active conversations, going beyond just doing transactions.
- New online products: Quickly launching tools powered by AI, suggestion systems, and self-service platforms.
- Rules, ethics, and keeping things safe: Making sure AI is used securely, honestly, and reliably.
Gonçalves thinks the next Portuguese bank will use AI in every aspect, from planning to how they work and the customer experience. This means faster innovation, better customization, and banking operations that are more effective and strong.
In short: AI is more than just a tool; it drives digital change, teamwork, and banking that focuses on the customer in Portugal.
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