The Future of Finance: How AI-driven personalisation will change financial services forever
By Benjamin Baume, Co-Founder of Craggle
In an era defined by rapid technological advancements, the entire financial services sector stands on the brink of profound transformation. With generative AI systems emerging and maturing at an unprecedented pace, we now have an extraordinary opportunity to create deeply personalised, fair, and efficient financial experiences for consumers everywhere.
I’ve always believed people don’t invest in the status quo. They invest in the future, and the future is generative AI that puts personalisation and fairness first. That’s why we built Craggle, beginning our journey with home lending, one of the most significant financial decisions a person will make.
The Personalisation Revolution Across Financial Services
Consider all the financial data swirling in the digital realm, income patterns, spending habits, investment behaviours, insurance needs, real estate trends, retirement planning. Traditional financial institutions have only scratched the surface of these valuable insights. Until recently, limitations in both technology and institutional inertia have slowed innovation. But machine learning and generative AI have dramatically shifted the playing field. They now enable financial service providers, from lenders to insurers and beyond, to understand and serve customers at a hyper-personalised level, delivering bespoke financial products and experiences tailored to individual needs and goals.
By analysing multiple, dynamic factors within seconds, these advanced systems anticipate customer requirements, recommend ideal solutions, and streamline every aspect of financial management. Whether it’s identifying the perfect mortgage, optimising an investment portfolio, or predicting insurance needs, AI-driven personalisation promises a future where financial services are seamless, intuitive, and genuinely customer-centric.
Transforming Risk Evaluation and Financial Decision-Making
One of the most significant opportunities for AI-driven personalisation in financial services is revolutionising how lenders evaluate risk and price credit, moving beyond outdated frameworks that continue to disadvantage consumers.
Today, median-income earners in Sydney are on average needing more than 17 years to save a 20% deposit for an average property. Traditional solutions to accelerate homeownership, such as lenders mortgage insurance (LMI), introduce additional financial burdens, while alternatives like the ‘bank of mum and dad’ or using a family member’s property as security shift the cost or risk onto others, rather than addressing the core issue of risk assessment itself. Furthermore, traditional lending risk assessments still rely on Loan-to-Value Ratios (LVRs), which highlight a lender’s risk exposure rather than a borrower’s actual risk of default.
AI presents an opportunity for lenders to replace these antiquated, static metrics with highly personalised, dynamic assessments. By leveraging vast quantities of real-time and behavioural data, including spending discipline, consistency of savings, career stability, and financial behaviour, AI can accurately evaluate each individual’s true creditworthiness and repayment capability.
This shift is not merely innovative; it’s necessary. It represents a profound and long-overdue change for Australian consumers who have been constrained by outdated risk frameworks. Imagine a scenario where you could borrow up to 90% of a property’s value without needing to pay costly LMI, while still accessing interest rates typically reserved for those with less than 50% LVR, simply because your lender utilised AI-driven personalisation to determine your genuine, low-risk credit profile.
Such a future is within reach, driven by AI, bringing fairness, efficiency, and greater accessibility to homeownership and financial services alike.
Craggle: Pioneering Personalisation in Home Lending
At Craggle, we recognised home lending as the ideal starting point for demonstrating the transformative potential of AI-driven personalisation. Our powerful AI engine “never sleeps.” It processes data in real-time, monitors market shifts continuously, and crafts personalised home loan solutions. Leveraging proprietary algorithms, Craggle instantly identifies the most competitive lending options, eliminating traditional delays, queues, and administrative friction.
Our platform displays competitive home loan opportunities tailored to the individual, simplifying complexities and ensuring our customers have clarity at every step. As pioneers in this space, we’ve demonstrated what AI-driven personalisation can achieve and we’re excited to be laying the groundwork for a broader shift in how all financial products and services are delivered.
The Power of Being an Early Mover
By adopting cutting-edge AI technologies now, financial institutions have the opportunity to continuously refine their algorithms, deepen consumer insights, and build lasting trust through consistently personalised experiences.
When hyper-focused personalised experience inevitably becomes the industry-wide expectation, early adopters like Craggle will have an advantage in terms of sophistication, trust, and operational efficiency. We are not simply looking for technological upgrades, we’re establishing a blueprint for the future of financial services.
Craggle’s Foundational Principles
Speed, simplicity, and transparency aren’t just conveniences, they are essential to the future of customer experience. At Craggle, our AI-driven engine is purpose-built around these principles. We prioritise rapid decision-making, straightforward processes, and clear, understandable insights, empowering customers to confidently navigate and make informed financial decisions.
Generative AI makes complex financial choices simpler and faster by delivering personalised, actionable solutions in real-time. Transparency is baked into our approach, ensuring customers clearly understand their options and the rationale behind each. By placing speed, simplicity, and transparency at the core of our technology, Craggle creates lasting trust, fundamentally reshaping the customer relationship in financial services.
Charting the Road Ahead for Financial Services
Craggle is more than a platform, it’s part of a larger movement transforming how consumers interact with financial services through clarity and personalisation. Our starting point in home lending serves as proof-of-concept for a wider vision: using AI-driven personalisation to reinvent finance altogether, from insurance and investments to banking and beyond.
As generative AI continues its rapid evolution, personalised finance will grow from an aspirational feature to an expected norm, fundamentally reshaping how people approach financial decisions.
Ultimately, people invest in the future, especially when emerging technologies promise to solve persistent, real-world problems. For Craggle, that future involves harnessing the power of generative AI to redefine financial services around fairness, transparency, and individual empowerment. With our AI engine always at work, we’re committed to providing personalised, responsive financial solutions that permanently change the landscape of financial services, for the better.
