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How AI is Shaping the Future of Banking: Insights from the WBA Executive Conference

AI (Artificial Intelligence)

How AI is Shaping the Future of Banking: Insights from the WBA Executive Conference

Eric Cook by Eric Cook

Chief Digital Strategist

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Full biography

Eric considers himself a “recovering banker” of 15 years, who for the past eleven years has focused his efforts as a digital strategist, helping his clients (mostly community banks) better understand and leverage the power of the Internet as a strategic business tool. An award-winning web designer with WSI, the world’s largest digital agency network, Eric is a two-time contributing author to the best-selling book Digital Minds – 12 Things Every Business Needs to Know About Digital Marketing. Consistently rated in the top five digital marketing books on Amazon, the book is in its second edition and available in three languages.

A sought-after, nationally-recognized speaker in the financial services industry, Eric is a member of the National Speakers Association and loves sharing his knowledge to help educate and inspire others. He is the co-creator of a weekly webinar show called Free Webinar Wednesdays, founder of the Banker Education Series webinar series, and serves as a faculty member at several banking schools around the country where he teaches bankers about digital strategy, online marketing and social media. He is a WSI Certified LinkedIn Professional and holds undergraduate degrees in business administration and psychology. While working full-time as a community banker, Eric earned his MBA and completed the three-year Graduate School of Banking program in Madison, WI in 2003.

Professionally, Eric helps his clients in all areas of digital marketing, which includes mobile-responsive web development, search engine marketing and optimization, social media strategies, e-mail communication, and “big-picture” digital strategic planning. He’s the co-founder of DigitalRCP.com, a service created to help businesses understand their risk when it comes to operating in today’s digital world. When he’s not helping his clients succeed online, he can typically be found on one of his many bicycles training for his next mountain bike/triathlon race or spending time with his wife and two (very spoiled) golden retrievers.

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Summary:

Last month, I had the privilege of moderating an insightful panel discussion at the Wisconsin Bankers Association (WBA) Executive Conference in Milwaukee, WI. Joined by industry leaders from Incredible Bank, Forward Bank, Horicon Bank, and South State Bank, we tackled the hot topic of AI in banking—not just the hype, but the real, tangible ways AI is transforming their bank’s operations, empowering employees, and reshaping the customer experience.

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Key Takeaways from the AI in Banking Panel

hand and robot han1. AI Is Here to Stay—Banks Must Adapt or Fall Behind

The discussion kicked off with a reality check: AI adoption is no longer optional. Chris Nichols from South State Bank highlighted that AI is evolving rapidly, from traditional AI (structured data analysis) to Generative AI (GenAI) and even Agentic AI—which combines both for intelligent decision-making. This progression is making AI more intuitive, helping banks automate processes, analyze data, and enhance customer interactions.

2. Overcoming the Fear of AI Replacing Jobswoman jumping over hurdle

One of the biggest misconceptions about AI? That it will replace jobs. The panelists agreed that AI won’t take jobs away but will create new opportunities by eliminating mundane tasks and allowing employees to focus on higher-value work. Kathy Strasser from Incredible Bank emphasized how AI is enhancing efficiency, enabling her bank to double in size while maintaining the same number of employees.

Chris put it best: “AI isn’t going to take your job, but a banker who knows how to use AI might.”

3. AI Adoption Requires Champions and Training

man talking to a robotFor AI to take root in an organization, you need AI champions—people who believe in its potential and drive adoption. Cyrene Wilke from Horicon Bank shared how her team has embraced Microsoft Copilot, an AI-powered assistant that enhances meeting recaps, email prioritization, and content creation.

At Forward Bank, Sheri Dick shared how their employees were challenged to find “AI Quick Wins”—tasks taking more than 10 minutes that AI could streamline. This initiative sparked innovation across departments, leading to time-saving breakthroughs in marketing, data analysis, and business intelligence.

4. Practical Use Cases: AI in Action

graphAI isn’t just theoretical—it’s already driving real results for banks. Here are a few standout examples from our panelists:

  • Forward Bank used AI to rebuild their website content, saving over 200 hours while ensuring brand consistency.
  • Horicon Bank leveraged AI-driven tools to analyze demographics and refine marketing strategies, tailoring campaigns to different customer segments.
  • South State Bank built an internal AI tool called Tate, which acts as a knowledge base, answering regulatory and policy questions in seconds instead of minutes.
  • Incredible Bank integrated AI into their customer chat system, ensuring responses reflect their company culture and even translating between English and Spanish seamlessly.

AI and Regulatory Compliance5. AI and Regulatory Compliance: Staying Ahead of the Curve

Regulators are watching AI closely, but the stance is evolving. The OCC (Office of the Comptroller of the Currency) initially approached AI with skepticism but has since recognized its benefits. Banks that proactively communicate AI initiatives with regulators and establish governance frameworks (like AI policies and risk assessments) will be in a stronger position.

Kathy’s advice? “Talk to your regulators first. Get them involved early, and they’ll be your partner in AI adoption.”

What’s Next for AI in Banking?

If there was one clear message from the discussion, it’s this: Banks must start NOW. AI is no longer a futuristic concept—it’s an essential tool for staying competitive.

Actionable Steps for Banks Looking to Get Started with AI:

  • Start small: Identify a few key areas where AI can provide immediate efficiency gains
  • Create an AI strategy: Align AI initiatives with business goals and establish governance frameworks
  • Encourage AI champions: Identify employees passionate about AI and empower them to lead adoption. 
  • Engage regulators early: Be transparent about AI use and ensure compliance frameworks are in place. 
  • Measure success: Track AI usage and its impact—metrics like active AI users and time savings can drive adoption.

Final Thoughts: AI as a Culture Multiplier

One of the unexpected benefits of AI adoption? It strengthens company culture. AI can unify teams, streamline training, and reinforce core values across the organization—especially in times of mergers and acquisitions.

As I left the stage, I couldn’t help but reflect on how AI is not just changing banking—it’s changing the way we work. If you’re in the banking industry and haven’t started exploring AI, the time is now. Let’s embrace the future together.

🔍 Curious about how AI can drive efficiency at your bank? Let’s talk! Contact us today or check out WSI’s AI Solutions to explore tailored AI strategies for your institution. 🚀

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