The report The 99% Problem: Why Banks Struggle With Search Relevance reveals that nearly all financial institutions fail to deliver relevant enterprise search results, undermining customer experience and digital transformation. Despite 93% increasing investments, 82% report siloed deployments and poor alignment, with multiple indices and disconnected teams worsening inefficiency. While 85% see AI as the future of search, only 14% have implemented it due to talent shortages and competing priorities, forcing reliance on third parties. Customers expect Google-level experiences, and 96% say negative encounters impact loyalty. The report advises unifying content, avoiding building from scratch, using AI automation, and detecting intent to meet rising expectations.

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