BAKU, Azerbaijan, November 19. The future of banking will be built on artificial intelligence and data, the Chairman of the Board of Directors of the Turkish Banks Association, Alpaslan Çakar, said at the 9th International Banking Forum in Baku, Trend reports.
According to him, strategic and customer expectations in the banking sector are changing rapidly: "Although banking is essentially an intermediary activity, technological developments are taking this sector to a whole new level. Although banking was originally based on the classic corporate model, the spread of computers in the 1970s and 1980s and digitalization in the 2000s created new mechanisms in the sector. Digital transformation is now entering a new phase."
“The key is to understand customer behavior and expectations correctly and manage them. Customers no longer want to go to the bank. Their needs must be analyzed in advance, and the service must be seamlessly integrated into their normal rhythm of life,” he said.
The Chairman also touched upon global experience and noted that in some countries, a significant portion of financial services are already provided through non-bank platforms, and this trend is gaining momentum.
Emphasizing the role of digitalization and artificial intelligence in the sector, Alpaslan Çakar added, "Artificial intelligence is inevitable. The world is not yet fully ready for it, but it will undoubtedly change the future. Data will be the main fuel for the banking system in the coming years. Information management will be provided by artificial intelligence. The main difference between banks will be determined by who uses this technology safely and effectively."