Metro Bank , a UK-based community bank has revealed its collaboration with Infosys to improve its IT and support functions. The partnership promises an upgrade in digital capabilities The partnership will support Metro Bank in its ongoing efforts to improve efficiency and reduce costs.

Teaming up with Infosys helps Metro Bank to upgrade its digital capabilities, increase automation, optimise data, and integrate additional AI features. By using Infosys Topaz, an AI solution harnessing generative AI technologies, the bank aims to provide a simpler and more consistent customer experience for its FANS. With Infosys' expertise and capabilities, Metro Bank can develop a more agile structure, ready for significant growth.

Officials from Metro Bank stated that Metro Bank's collaboration with Infosys aims to create a scalable organisation while maintaining a customer-focused service. The bank anticipates EUR 95 million in annual cost savings in 2024, targeting mid-to-high teen Return on Tangible Equity by 2027. Their vision for 2025 includes expanding their store network and enriching the Metro Bank experience in northern England.

Furthermore, Infosys representatives have announced that their common objective is to strengthen customer engagement and community focus, and to integrate physical and digital experiences, thereby accelerating growth for Metro Bank. Benefits of using AI and automation in the banking system Digital processes are changing the way financial institutions operate, helping efficiency, accuracy, and customer service. Automated processes reduce human error and operational costs, allowing banks to allocate resources more effectively.

AI-driven algorithms analyse vast amounts of data to detect fraudulent activities, predict market trends, and offer personalised financial advice to customers. Chatbots and virtual assistants provide round-the-clock support, handling routine inquiries and transactions, which allows human staff to focus on more complex tasks. As technology continues to advance, the integration of AI in banking will likely lead to a more secure and better banking experience for all.

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