Let me start by saying that when it comes to delivering private banking services to clients, they work hand in hand—they are not mutually exclusive.
Over the past decade, AI has transformed countless industries, including finance. In private banking, and particularly at Creand, personalisation, trust and human relationships are paramount. AI, despite its disruptive potential, cannot replace the private banker—but it certainly complements and enhances their role. Ultimately, AI elevates the quality of the service while reinforcing the bankers role as the central figure in the client relationship.
The cornerstone: personal connection
AI can be a powerful ally, capable of analysing vast amounts of data to anticipate needs, identify opportunities and propose tailored strategies. However, all this technology lacks one major quality: empathy. The ability to read between the lines, to connect with others, to understand the emotions driving financial decisions, to interpret the subtleties of body language, and most importantly, to build the trust needed for a long-term relationship.
AI is a tool that enriches the role of the private banker
Digitalisation has enabled private banking to evolve in the following ways:
Data management: processing huge volumes of information through digital platforms facilitates more informed decision-making.
Client experience: digital tools and applications provide personalised services tailored to the client’s preferences.
Operational efficiency: automation reduces costs and saves time, directly contributing to improved competitiveness.
Predictive analysis: enabling the identification of patterns in client behaviour, anticipating their needs and offering tailored financial products.
Risk management: assessing credit risks by analysing client solvency and enhancing fraud detection by identifying suspicious transactions.
Virtual assistants: smart assistants optimise customer service by providing quick and personalised responses to queries.
In summary, AI automates administrative tasks, analyses investment portfolios in real time, identifies risks and predicts trends. The private banker, as the overseer of the client’s entire financial environment, contextualises all the data and makes decisions based on a broader perspective.
The backbone: the person
We could say that during a client’s most critical financial moments—such as retirement planning, wealth transfer, or navigating times of crisis—what is truly needed is intuition, sensitivity and the ability to provide emotional support. No algorithm, however sophisticated, can replicate that. Nor can it replicate trust. Trust is built through consistent and transparent interactions.
Clients value knowing there are real people behind the recommendations—people who share their vision and stand by them when it matters most.
After all, at critical times, who would we prefer to turn to for answers? In most cases, it’s likely to be our private banker.
How should the private banker adapt in this new landscape? We must develop expertise in key AI concepts, exploring tools like predictive analysis, client segmentation and chatbots. It is equally important to prioritise ethical transparency, clearly explaining the use of AI to clients, while preserving the human relationship as a core differentiating value. A mindset of continuous learning will enable the efficient integration of AI.
The future is a blend of technology and people
Technological integration must focus on an inclusive approach (accounting for a diverse range of users) and embedding human values into the design of financial products. It must be a people-centred model, ensuring that technology serves humanity—not the other way around.
AI is an opportunity that transforms and elevates customer service. There is a balance to be struck where AI enhances human capabilities, and success lies in finding that equilibrium.
In conclusion, the role of the private banker will be more important than ever, as it combines advanced technology with human expertise to create real value for the client. Success in the service provided is built on the synergy between the power of AI and the warmth of human connection.