BCG's white paper explains how GenAI is set to transform banking across customer service, operations, risk, compliance, and product innovation. GenAI can automate up to 80% of tasks, reshape channel architecture, and deliver personalized financial services. It enables banks to launch hybrid channels, virtual risk officers, and scalable advisory services. Cloud platforms already offer the tools needed for rollout. Success depends on full organizational commitment, strong governance, and targeted high-impact use cases. Waiting may delay gains—banks must invest now to build scalable, domain-specific GenAI solutions and gain a lasting competitive edge.

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