Raiffeisen Entremont Bank recently asked ISFB to lead one of its strategic brainstorming sessions on the challenges of artificial intelligence in banking. Interview with Florian Perraudin, Head of Services.

What do you think is the current and future impact of AI on the banking sector?

The current impact of AI on the banking sector is currently not very significant, but its use could soon revolutionize the sector and turn the market upside down! It will then be crucial to manage the ethical and confidentiality challenges linked to its increased use. Like the energy transition or climate change, AI is one of the major societal challenges of the 21st century, and a real challenge for the banking sector.

What do you see as the key benefits and challenges of AI adoption in banking?

The use of AI could significantly increase operational efficiency by automating a fair number of repetitive tasks such as transaction processing and account management. It would also increase security by detecting fraud faster and more accurately. Chatbots and virtual assistants could offer 24/7 customer service, enhancing the user experience. In the more distant future, AI could further transform the banking sector by personalizing financial services according to each customer's individual needs. It could also optimize risk management and investment portfolios through advanced predictive analytics.

How could AI transform the relationship between banks and their customers?

Its use could enable:
- greater personalization of services, thanks to customer data analysis
- 24/7 service availability
- faster, more efficient problem resolution
- enriched user experience (intuitive interfaces and fluid interactions)
- anticipation of customer needs

How has the training provided by ISFB helped your institution to better consider the integration of AI into its activities, while ensuring compliance and security?

This training course gave us a better understanding of artificial intelligence technologies and their specific applications in the banking sector. It also provided us with a comprehensive view of the current regulatory framework and an awareness of how to manage the risks associated with the use of AI, such as security and the protection of customers' personal data.
It enabled our Board members and Management to become aware of the issues and risks associated with the use of AI, and to integrate them into their short-term strategic perspectives. AI is coming, and it's coming fast!

Florian Perraudin

Service Manager (Banque Raiffeisen Entremont)