At least 59 per cent of financial institutions in Europe, the Middle East and Africa (EMEA) have called for the development and deployment of faster artificial intelligence (AI) to boost financial transactions in the region.
  
A global leader in Customer Relationship Management (CRM), Salesforce, made this known as it released its latest Connected Financial Services report, sharing insights from 9,500 financial services institution (FSI) customers worldwide, including 4,000 from EMEA.

Country Manager and Senior Director of Solution Engineering for Africa, Linda Saunders, 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 AI agents, are changing individuals’ relationships with their Financial Services Institutions (FSIs).
  
Saunders said: “For humans and agents to work together, FSIS must implement with trust, transparency, and the highest levels of regulatory compliance as core to their strategy, not an afterthought.” 
  
Key insights from the research include that differentiated service and experience can outweigh rates and fees. 45 per cent would stay with a provider that offers excellent service, even if fees increased. This is especially true for 56 per cent of high earners.

Consumers have big expectations for AI in financial services as 43 per cent of FSIs in EMEA, including 54 per cent of Gen Z and 50 per cent 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.