Artificial intelligence in banking is a buzz in today's digital environment. AI technology in the banking sector is evolving rapidly. Banking and financial organizations have increasingly used artificial intelligence applications and infused artificial intelligence power into their systems to track and detect fraudulent transactions with ease.

In addition to ensuring the security of customer bank accounts, AI applications in the banking industry will also play a key role in personalizing customer experience, making informed credit-related decision making, and assessment functions. of risks. Therefore, with the rapid emergence of artificial intelligence in the mobile banking industry, banks and financial service providers have optimized the way they interact with their audience.

This trend had laid the foundation for the development of AI-powered mobile banking applications many years ago. Driven by its built-in digital banking capabilities, the craze for mobile baking apps or FinTech apps has increased.
According to research reports, nearly six million people have installed banking apps as a result of COVID-19. The growth rate of financial apps and banking apps for Android and iOS has doubled in 2020 due to the consequences of the impact of the coronavirus in 2019.

So this is the right time to develop banking apps and digitize your traditional banking services. If you are thinking about AI-based banking mobile app development (Android / iOS), first know the importance of AI in banking app development, develop your confidence level, have a plan and hire the best development company of mobile applications to get your application developed on the desired platforms.

Use cases of artificial intelligence in the development of mobile banking applications
# 1. Smart virtual assistance
Virtual data analysis
Credit risk management
Automation in all processes
Digital sentiment analysis
Data security
Enrich the money transfer functions
AI for compliance
Reduce human errors by 100%
AI can spot market trends