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Customer Experience Excellence Report UK 2024/25
Our AI adoption index shows that banking is the most advanced sector when it comes to implementing AI and ML technologies. The key use cases are fraud detection and cyber security, areas where AI can quickly detect patterns and prevent fraudulent activity.
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.
"Nobody needs convincing about the benefit of AI, or indeed the number of use cases. The hesitation is to what extent AI requires a significant business model change rather than trying to speed up existing processes. "
Paul Greenan, Partner, Customer and Operations - Banking
Banking top 10 companies
As they recover from the impact of the pandemic on their customer service model, first direct return to number 1. They have consistently been in the top 3 companies in the index for the past 13 years.
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first direct
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American Express
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Nationwide
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Chase
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Coventry Building Society
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Marcus by Goldman Sachs
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Atom Bank
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Monzo
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Leeds Building Society
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Starling Bank
Source: Based on the views of 13,143 consumers in the UK CEE 2023/24 research