AI-Powered Banking: Enhancing Client Experiences with Intelligent Automation

At the AI-Powered Banking: Enhancing Client Experiences with Intelligent Automation panel, Chief AI Office, Prashant Malhotra of U.S. Bank outlined how artificial intelligence is reshaping both digital and human interactions in financial services. His central message was clear: scaling AI successfully begins and ends with the client.

Human + Digital: A Unified Approach

U.S. Bank’s strategy builds on what Malhotra calls the “Human + Digital” model—blending personalised, high-quality digital experiences with the expertise and empathy of human bankers. Rather than replacing human contact, AI is used to enhance it, ensuring that customers receive fast, accurate answers while still having access to meaningful human guidance when needed.

This philosophy mirrors the bank’s long-standing approach to technology adoption. From being one of the first in the U.S. to introduce a Spanish-language mobile app to consistently ranking among the top in mobile banking functionality, U.S. Bank has focused on innovation that broadens accessibility and deepens relationships.

Turning AI from Hype to Real-World Value

Malhotra stressed that AI’s real power lies in moving beyond hype to practical use cases that deliver measurable benefits. He highlighted several areas where U.S. Bank is already applying AI:
• Conversational AI in the Mobile App – Customers can now speak to the app naturally to get answers about their accounts, transactions, and spending trends, without navigating menus or contacting support.
• Generative AI for Customer Service – AI assists bankers in classifying inquiries, retrieving accurate answers, and ensuring regulatory compliance in responses, leading to faster resolution times.
• Personalised Financial Insights – Using the bank’s extensive data history, AI delivers targeted, real-time insights to customers, replacing generic promotions with tailored recommendations relevant to their financial behaviour.

Malhotra emphasised that accuracy is paramount, especially in a regulated industry where “it’s money we are dealing with.” Every AI-enabled interaction must be precise, compliant, and secure.

Scaling Across Channels and Teams

The next phase for U.S. Bank is to ensure AI tools are equally effective across both customer-facing and employee-facing platforms. This means providing bankers with the same AI-driven insights and automation capabilities that customers see in their digital experiences.

By doing so, U.S. Bank is creating a 360-degree view of each client—allowing bankers to deliver more proactive service and helping the institution scale personalised experiences without compromising quality.

Looking Ahead: Trust and Transformation

While AI is a transformative capability, Malhotra underscored that in banking, relationships still matter. The goal is not to force customers into a single channel, but to ensure that whether they choose self-service or a human conversation, the experience is equally seamless and intelligent.

In his closing remarks, he described this as “an amazing time we are living in”—a moment where decades of banking tradition can merge with cutting-edge AI to deliver smarter, faster, and more personalised financial services.