Why AI Is The Future Of Community Banking PYMNTS.com

On a surface level, community banking and artificial intelligence (AI) can seem like something of a mismatch in concept. Community banking is all about relationship-lending -- forging personal and lasting connections directly with a consumer, while AI -- particularly embodied by chatbots and voice assistants -- focuses primarily on digitally mediating that personal relationship. Tina Giorgio, president and CEO at ICBA Bancard, says that surface perspective misses the bigger AI picture and the scope of what AI can offer to community bankers and their customers across the country. According to Giorgio, AI is a "tremendous opportunity" for community banking. In fact, she says that it could be a game changer for community banks over the next five years. "There is tremendous potential with the advent of AI to help level the playing field in the financial services space," she said.