South Africa’s financial services industry is harnessing AI to enhance security and personalize customer experiences. AI-driven algorithms help banks detect fraudulent transactions and safeguard clients’ information by analyzing vast amounts of transaction data in real-time. Moreover, AI in credit scoring is opening new possibilities for financial inclusion, as it assesses creditworthiness beyond traditional metrics, enabling more South Africans to access loans and financial services. Personalized financial advice, powered by AI, is also gaining traction, allowing banks to cater to customers’ specific financial needs and goals.
