The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the AI in banking content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.
According to Cornerstone Advisors’ 2026 banking report, new account holder growth, deposit gathering, home equity loan products, and efficiency are among the top priorities for banks and credit unions this year.
Coincidentally, millennials and Gen Z are the two fastest-growing consumer segments when it comes to financial asset acquisition and share of total origination activity, especially credit card originations. Millennials in particular are approaching their peak home-buying years.
These generations present a major opportunity for financial institutions to put their priorities into action. But before you start teeing up the marketing outreach, there’s another key piece of information to consider: Millennials and Gen Z have a high proficiency in and preference for digital-first experiences. In fact, digital banking is non-negotiable for 80%+ of Gen Z and millennials, with modern digital experiences as the most-cited factor in their decisions on where to bank.
Those stats shouldn’t come as a surprise. At this point, having a digital experience for lending and deposit account opening is table stakes. The real questions are: how do you make that digital experience your competitive edge? How do you drive the deposit and lending growth you’re prioritizing while scaling efficiently?
Financial institutions don’t necessarily need more technology to do this; they need the right technology. A seamless blend of speed, security, and intelligence that can turn transactions into moments consumers will remember the next time they’re shopping for a car, planning home renovations, or saving for a big life event.
How data-backed AI and machine learning can help
AI in banking isn’t just a buzzword. Cornerstone Advisors’ 2026 banking report also highlighted the increasing percentage of financial institutions that have deployed AI and machine learning in the past year, with 49% of banks and 59% of credit unions having already invested in or deployed generative AI alone. This trend shows no signs of slowing and aligns with the expectations of consumers who want experiences that are intuitive, personalized, and able to move as fast as their lives do.
When used appropriately, AI and machine learning can really help a financial institution anticipate customer needs, act on opportunities, and operate more efficiently. It can highlight which prospects are most likely to open new accounts, suggest deposit products when customers are ready to save, and flag when someone may be in a position to explore a home equity loan. At the same time, AI can take on repetitive tasks behind the scenes, freeing teams to focus on the interactions that truly build relationships and drive growth.
The key is that these AI-driven experiences only work when they’re powered by the right data. Without accurate, complete, and current data, AI can only make generic or incomplete recommendations—it won’t be able to quickly identify the right prospects, personalize offers, or detect opportunities with confidence.
Successfully weaving AI in banking and lending operations requires technology that offers deep, real-time data insights.
That’s where MeridianLink® One integrated lending, account opening, and data intelligence solutions come in.
Our digital platform helps financial institutions unlock the power of their data so they can move faster, personalize every interaction, deepen relationships, and continuously optimize operations.
Learn how one institution grew application volume by 23% within one year of implementing MeridianLink. Read more
The insights you need to confidently move forward
With full core and cross-department connectivity, you can be rest assured that you’re always basing critical reports and decisions on complete, up-to-date consumer data.
- Access up to three years of structured consumer and account-opening data, complete with data models and dictionaries, to start analyzing and acting immediately.
- Keep dashboards, reports, and analytics fresh with automatic daily and intra-day updates.
- Combine origination data with additional enterprise sources to get a full picture of every customer and application.
- Spot trends, uncover opportunities, and make smart decisions that keep the people behind the numbers in focus with centralized analytics.
Machine learning and AI capabilities that turn opportunities into additional growth
Responsible inclusion of AI in banking and lending initiatives should empower staff, not replace them. Our machine learning- and AI-enabled workflows support teams in making informed calls, expanding business, and staying ahead, all while maintaining a personal touch.
- Quickly and accurately approve applications with AI-powered underwriting, decisioning, and credit risk assessments.
- Protect your institution and consumers with AI-driven identity verification and fraud detection.
- Run “what-if” scenarios and refine strategies with interactive dashboards and peer benchmarking.
- Automate routine tasks so your team can focus on supporting consumers and deepening relationships.
Analytics that drive action and impact
Continuously refine workflows, decisioning rules, and outreach campaigns with advanced analytics to enhance operations and increase engagement.
- Monitor decision outcomes and workflow performance to flag patterns and bottlenecks.
- Adjust rules and guidelines over time to boost efficiency, accuracy, and consumer experience.
- Apply data-driven insights to continuously optimize internal and consumer-facing systems, tailor cross-sell offers and segmentation, and grow revenue.
Discover how MeridianLink technology turns data, analytics, and automation into measurable loan growth. Learn more
Discover the MeridianLink difference—unified systems, deeper insights, and actionable intelligence—and start turning growth potential into growth achieved. Schedule a demo to get started.
