UK banks and building societies are enthusiastically embracing AI to enable customer experience excellence (CEE). This is prominent when it comes to using AI to tackle the rise in scams and fraud which are negatively impacting the customer experience. Inspiringly, banks have also been pushing the boundaries with AI to explore new business models and revenue streams. Examples include AI-driven bills management and wealth coaching tools, or growing partnerships within wider ecosystems related to non-financial services experiences. Despite this progress, there is caution, and there is a need to build customer trust when they are engaging with a robot not a human.
Unfortunately, it is also a tool available to fraudsters – an AI arms race is underway as banking firms seek to stay one step ahead. As a result, it is critical that banks consider the risk and control environment within which they will deploy AI solutions, to ensure adequate protections are in place to mitigate these risks.
Banking
AI is now firmly at the core of banking customer experiences, fraud protection, and new products and services, but the next frontier is to grow trust.
Banking top 10 companies
Source: Based on the views of 13,053 UK consumers interviewed in 2024/25
Our consulting insights
Something went wrong
Oops!! Something went wrong, please try again
Download the 2024/25 Customer Experience Excellence report
This year marks the 15th anniversary of our Customer Experience Excellence (CEE) research in the UK. Building on last year's study, “Say hello to your new AI colleague”, this report examines the transformative role of digital and AI technologies in reshaping customer experience. Explore how these technologies can be designed to connect emotionally with customers, build trust, and create a new era of cost-effective, AI-enabled CX.
