Despite the rapid proliferation of artificial intelligence (AI) in banking, it is the personal connections with relationship managers (RMs) that still drive customer satisfaction. According to our research, small to mid-sized businesses favor a personal relationship with their RM when evaluating overall satisfaction with their lead bank.

In fact, 62% of respondents rate their bank satisfaction as excellent when they have a personal relationship with an RM or bank professional at a local bank, compared to 51% of those who rely on digital self-service or a banker from a distant office.

Customer Satisfaction of Bank Relationship Managers

When it comes to obtaining advice for business solutions, however, companies prefer an RM that leverages AI to deliver advice and guidance. The reason: With AI, bankers have better data and analytics to help their clients reach their goals.

To stay competitive while still maintaining a high-touch relationship, banks will need to utilize a combination of digital and AI technologies to streamline their business and ultimately manage more clients.

Read our paper to see additional investments that banks should be making to outperform their peers.