Bradesco Bank has been recognized as the regional winner in the 2024 Innovation in Digital Banking Awards, excelling in multiple categories, including Artificial Intelligence & Machine Learning, Investment, and Transformation Projects. The Brazilian bank has demonstrated a strong commitment to leveraging emerging technologies to enhance customer experiences and optimize internal processes. Through its innovative approach, Bradesco has solidified its position as a leader in the rapidly evolving world of digital banking

Pioneering Generative AI in Banking

Bradesco has been at the forefront of AI-driven banking since 2016, when it introduced the Bradesco Artificial Intelligence (BIA) cognitive virtual assistant. By embracing AI early on, Bradesco demonstrated a vision for transforming banking operations and customer interactions. In June 2023, the bank conducted an extensive diagnostic assessment to identify bureaucratic and repetitive processes that could benefit from generative AI applications. This forward-thinking initiative led to the development of new tools aimed at increasing operational efficiency and enhancing the customer experience. To explore the potential of AI even further, Bradesco organized an internal hackathon to develop innovative ideas and assess the feasibility of artificial general intelligence (AGI) initiatives. As a result of these efforts, Bradesco launched the BIA Branches project at the end of 2023. This groundbreaking project is designed to assist branch managers in customer service by retrieving relevant information about the bank’s products and services from various documents and internal standards. The tool was later expanded to support employees with inquiries regarding internal processes and procedures, significantly improving internal workflows

In the second quarter of 2024, Bradesco initiated the pilot phase for BIA Customer, enabling customers to interact with BIA for comprehensive financial inquiries. Powered by AGI, this tool ensures accurate and efficient communication, allowing customers to access relevant information and perform complex transactions seamlessly. Bradesco's commitment to an agile methodology ensures continuous improvements in these AI initiatives, with updates and new features delivered in development cycles spanning one to three months

AI-Powered Investment Recommendations via WhatsApp

Bradesco's Investment Village division played a crucial role in launching an AI-powered investment recommendation project on WhatsApp. This initiative is part of the bank’s strategy to offer customers an entirely digital, end-to-end investment recommendation journey. By combining the power of AI with expert insights from investment specialists, Bradesco provides tailored, data-driven investment recommendations directly to customers through a platform that is accessible and easy to use

Through advanced AI analytics, Bradesco categorized customers based on their investment profiles, behavioral patterns, relevant market events, and similarities to other clients. By analyzing transaction histories and other data points, the bank is able to deliver personalized investment opportunities that match each individual’s financial goals and preferences. This ensures that customers receive investment recommendations that are both relevant and informed by data. The integration of BIA with WhatsApp further enhances the customer experience, as it allows clients to receive personalized, expert-recommended investment portfolios directly on their devices. This seamless integration empowers clients to engage with investment specialists on an individual basis, making it easier for customers—regardless of their financial literacy or investment capacity—to access high-quality financial advice

Commitment to Innovation and Customer-Centric Solutions

Bradesco’s continuous investment in AI, machine learning, and digital transformation highlights its forward-thinking approach to banking. The bank's ability to harness emerging technologies and integrate them into practical, customer-focused solutions has set a benchmark for the industry. By bridging gaps in financial access and enhancing operational efficiency, Bradesco remains a leader in shaping the future of digital banking in Latin America and beyond. The bank’s forward-looking initiatives ensure that it will continue to meet the evolving needs of its customers, while maintaining a competitive edge in a dynamic industry

Bradesco Bank’s recognition as the regional winner in the 2024 Innovation in Digital Banking Awards highlights the institution's outstanding commitment to leveraging cutting-edge technologies like Artificial Intelligence and Machine Learning to redefine banking experiences. From pioneering generative AI in banking to revolutionizing investment recommendations via WhatsApp, Bradesco has showcased its ability to continuously innovate, ensuring that both customers and employees benefit from enhanced efficiency and personalized solutions. Through its ongoing focus on digital transformation, Bradesco sets a powerful example of how financial institutions can stay ahead of the curve, drive operational excellence, and deliver customer-centric solutions that shape the future of banking in Latin America and beyond