Banks have no room for error when it comes to customer data. Genesys Cloud Services Inc. is facilitating the adoption of AI assistants and cloud technologies, ensuring user security remains uncompromised.

The increase in banking apps has led to a more seamless customer experience, and AI is the next step in that journey, according to David Porter (pictured), managing director of financial services at Genesys.

David Porter of Genesys talks about maintaining the human element in banking.

“Most of the large banks in the world are in the middle of that transition from on-prem technologies and into cloud,” Porter said. “We are probably one third of the way through that journey. AI and apps and actual people are the ingredients for the future of client experiences within banks. You’re going to need all three.”

Porter spoke with theCUBE’s John Furrier at the AWS Financial Services Symposium, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed how AI is changing the way users interact with their bank. (* Disclosure below.)

Genesys predicts the rise of AI assistants in banking

Genesys specializes in client connectivity technology for large and medium-sized banks and is built on and in Amazon Web Services Inc.’s cloud. The company has already begun to integrate AI into its services, using predictive engagement software that tells banks why a client might be calling.

“The best practices that we see in the world today are more self-serve, but actual people integrated those experiences when you need them,” Porter said. “Guidance from AI for the experienced people as well, to read a disclosure, to track for sentiment, to offer up suggestions just makes for a better, smoother experience. So, we think that’s the direction forward.”

Involving real people is still necessary, but AI virtual assistants that can suggest the right paperwork or summarize financial practices will further augment the user experience, Porter added.

“You need a simple thing that’s the end result of all of this intellectual capital,” he said. “For banks, a virtual assistant that can handle payments, can do retirement planning, that can help you run your small business is voice-based, integrated into other aspects of your life, I think that’s going to be the future.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE Research’s coverage of the AWS Financial Services Symposium: 

(* Disclosure: Amazon Web Services Inc. and Genesys Cloud Services Inc. sponsored this segment of theCUBE. Neither AWS and Genesys nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE