From data to dollars, AI is transforming the finance industry. Many fintech companies are already exploring ways in which digital tools like AI and data analytics make services — and internal processes — more efficient, accessible, and user-friendly.
At Growth Acceleration Partners (GAP), we have a deliberate but somewhat cautious approach to integrating AI, emphasizing the need to tailor AI solutions to specific business needs rather than offering a boilerplate list of capabilities. We believe successful engagements of proactive AI implementation start with understanding business requirements and company goals, followed by customized strategies and determining appropriate AI applications rather than using a more generic off-the-shelf approach.
Here are details on one recent AI proposal we shared with a client:
Personalized Financial Education, Just in Time.
In the B2B world, content is king. The first project focuses on using behavioral data based on user profiles to push out personalized marketing collateral, documentation, and thought-leadership material.
Profiles already exist within the company’s database, and they may also be enhanced to extract data-driven insights. Profile enrichment includes the following types of information about users to refine content for different population segments:
- Behavioral data including preferences, unique needs, and goals
- Digital engagement experiences and product usage
- Demographic information including age, gender, race, location, family structure, education, employment, income, and more
- Psychographic data related to attitudes, interests, values, personality traits, motivators, and users’ lifestyles
- Sentiment data to reveal how customers feel positively, negatively, or neutral about products/services
- Technographic details to show what platforms and devices are used
- Transactional data including spending habits, purchases, and payments
The GAP team uses AI methodologies and natural language processing to analyze data collected about the general user experience, grouping together common profiles and classifying these into subsets of different customers based on behavior.
Content is then matched to these profiles, allowing a fintech company to use a proactive approach to recommending appropriate information to users.
For example:
GAP’s client, a rising star in fintech, enables individuals to build their credit with a very innovative platform. This venture-backed, high-growth fintech company has amassed a lot of financial wisdom — videos, blog posts, and expert interviews — but how do they make sure this goldmine reaches the right people at the exact right moment? After careful consultation, GAP made an advisory recommendation.
Instead of users having to dig through the website, AI algorithms act as a personal guide. AI tools will study each user’s every click, scroll, and pause, and then transform the platform’s UI into a tailored experience. Think of it as a financial concierge that anticipates your needs before you even ask.
If a customer is juggling multiple payments, they might find themselves greeted with articles on debt management, while a customer researching financial stress reduction could be offered a menu of support tools. AI technology looks at the user behavior to figure out what data was relevant to that user at that very moment.
This isn’t just content delivery; it’s real-time, laser-focused, hands-on financial guidance.
The magic behind the scenes? Sophisticated AI tools analyze complex behavioral patterns and generate insights from vast datasets, all while keeping data secure in the cloud. This means user privacy is protected, and the platform’s recommendations get more and more accurate over time.
In other words, GAP can help finance industry clients give users the right information — expert tips to tackle debt or track money-saving progress, and how-to guides to stagger payments in order to avoid an influx of cash at the month’s end — exactly when it is most beneficial.
