AI in banking through the eyes of the consumer

Digitalisation has transformed banking interactions, with 94% of customers using digital channels for everyday transactions. Younger users are reliant predominantly on mobile applications while older cohorts demonstrate a preference for web platforms. AI excels in its ability to enhance security, particularly through its role in fraud detection, but has generated scepticism around autonomous decision-making in the areas of lending and investing. Satisfaction levels are high with the basic digital tasks but there is room for improvement with respect to more complex matters, such as incident resolution. Going forward, successful application within the financial sector lies in blending AI’s capabilities with customer-centric strategies that address generational and technological divides, enabling banks to strengthen relationships and maintain competitiveness in an evolving market.

Carbó, S., P. J. Cuadros and F. Rodríguez (2025). «AI in banking through the eyes of the consumer». SEFO (Spanish and International Economic & Financial Outlook) 14, no. 1 (January): 49-57.