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Home Economy Finance

59% of Financial Service Institutions in EMEA Expect AI to Speed up Transactions

by Destiny Eseaga
February 6, 2025
in Finance
0
Financial Service Institutions in EMEA
Source: Salesforce report

Source: Salesforce report

UBA
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Salesforce (NYSE: CRM), the global leader in CRM, today released its latest Connected Financial Services report, sharing insights from 9,500 financial services institution (FSI) customers worldwide, including 4,000 from EMEA.

Linda Saunders, country manager and senior director of Solution Engineering for Africa said: “Among the biggest benefits of agentic AI solutions will be on-demand, instant access to personalise financial recommendations that may otherwise require appointments and taking time out of busy schedules.”

In addition to taking the pulse of consumers’ sense of financial security and goals, the report delves into how customer experiences — including those increasingly powered by artificial intelligence (AI) agents — are changing individuals’ relationships with their FSIs.

“For humans and agents to work together, it’s critical for financial service institutions to implement with trust, transparency, and the highest levels of regulatory compliance as core to their strategy — not an afterthought,” adds Saunders.

Key insights from the research include:

  • Differentiated service and experience can outweigh rates and fees. 45% would stay with a provider that offers excellent service, even if fees increased. This is especially true for 56% of high earners.
  • Consumers have big expectations for AI in financial service: 43% of FSIs in EMEA, including 54% of Gen Z and 50% of millennials, expect AI to play a bigger role in financial services than in other industries. FSIs are most interested in use cases that prevent fraud, lower prices, and complete routine tasks.
  • Building trust is essential as agentic AI is rolled out: 49% of consumers at least somewhat trust the use of AI agents in financial services, but only 8% are fully on board. The top factors that would build consumers’ trust in AI agents are transparency into their use, validation of their outputs, and explainability of their outputs.

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Tags: Financial Service InstitutionsLinda SaundersSalesforce
Destiny Eseaga

Destiny Eseaga

My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

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