A major value-creator for the banking and financial industry, AI is empowering banks to unleash customer experience interventions like never before. AI can simplify complex processes, automate labor-intensive processes, and offer a more personalized level of service to the customers Artificial Intelligence enabled banking software solutions can detect fraudulent activities by analyzing pattern abnormalities in transactional data. AI-enabled chatbots with semantic capabilities can assist customer service executives in dealing with customer queries more efficiently. AI tools embedded in banking software also help banks in security monitoring, settlements and reconciliations, liquidity management, and forex fluctuation management.