How Financial Services Businesses are Using Automation

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How Financial Services Businesses are Using Automation

The finance industry lends itself well to AI. The industry manages much data, customer service, and daily trend analysis.

people use marketing automation for financial services

One search for AI tools in the finance sector, and you’ll find millions of results. The key is knowing what to trial, where to bring AI to benefit your finance business and customers, and how to get started.

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We contacted finance professionals and asked how they use AI and automation and their tips for starting with AI. Plus, the tools that you should trial for your finance business.

Table of Contents

  • Companies Already Using Marketing Automation [+ Examples]
  • Tools That Can Help
  • Trends to Know in Marketing Automation for Financial Services

Marketing Automation Examples for Finance Businesses

Email and SMS Marketing

Email and SMS marketing is a powerful tool for finance businesses. Done well with automation, finance businesses’ marketing tasks can take half the time to complete.

Email and SMS are most effective when a finance business sets up audience segmentation. You can group audiences through interests or types of services.

When you’re rolling with a good marketing automation hub, even segmentation happens manually through email sign-ups, landing pages, and automated workflows.

On the subject of email and automation, CardUp’s Marketing Lead Jancis Yap says, “HubSpot’s workflow automation and list segmentation helps the team build the right user journey that converts more customers.”

Yap notes that segmenting lists used to be a long process.

“You had to go to our backend system, tell tech the segment you wanted, have them download a list for you, and then upload it into the email marketing portal. Now, the process is cut in half. You create the list yourself and add it to the marketing email feature,” Yap says.

Both email and SMS provide personalized marketing touchpoints that are useful, relevant, and timely! Emails and SMS can be auto-generated based on events, data trends, or actions such as applying for a service.

Landing Pages

Landing pages are specific pages where you can target a very specific audience with a very specific solution.

As mentioned above, the sign-ups generated through landing page submissions or downloads can be pulled into segmented audiences ready for targeted marketing.

The objective of a landing page is to attract a qualified audience who will convert there on the page. A well-thought-out campaign generated an 83% conversion for Accord Mortgages.

Reporting and Analysis

Reporting and analysis don’t need to be a time-consuming, human-powered task anymore.

Naturally, reporting and analysis are key parts of any finance business, but with AI and automation, you can take a lot of the administrative work off people and hand it over to the AI that works faster than any human could.

This leaves the experts to add their final thoughts and expertise to a report to take it from data overwhelm to exciting, actionable with a clear goal for what’s next based on expert recommendations.

Data can be summarized by AI using tools such as AlphaSense (more on that below), and these summaries can form parts of communication directly to customers.

Companies Already Using Marketing Automation [+ Examples]

Marketing automation can support your customers and free up your staff so they can focus on the work that matters most.

Here are four companies that are already putting it to good use.

1. Market Financial Solutions

Market Financial Solutions (MFS) uses marketing automation to improve efficiency and increase inquiries.

For many financial companies, the story is the same: teams work in and out of spreadsheets saved in various places without actual order and efficiency. This is precisely why MFS turned to HubSpot’s CRM.

The CRM system allowed MFS to set up forms, calls-to-action, and landing pages across the site. Plus, automated email marketing meant they could set up campaigns that nurtured their customers efficiently.

MFS said, “Every new contact gets sorted into a segment, such as valuers, solicitors, direct clients, and brokers. We use smart rules to then email each segment differently based on their needs.”

The email flow is already set up for each segment, meaning once created, it serves the business over and over again. Plus, with the same flow being used, MFS can analyze the automation success and tweak the experience for optimal results.

This is how MFS increased its open rate by 10% and had a 30% increase in inquiries.

2. CSB Group

Malcolm Ferrante, senior manager of business development and immigration services at CSB Group, uses AI to catch fraud.

“We’re exploring AI to analyze data on past risk cases. By identifying patterns that indicate opportunities or issues, we aim to make more accurate projections and assessments,” he says. “AI can also watch what’s going on in real time. It helps us predict how markets and situations may change.”

Alongside treat identification, Ferrante recommends using AI writing assist for reporting.

When asked for a tip on implementing AI, he said, “I recommend figuring out your goals and specific ways AI can do tasks for you.”

Ferrante says that financial companies have large amounts of customer information that AI can sort through faster.

Beyond that, he says, automated AI-powered models can value assets accurately and efficiently to support decision-making.

“But new tech also means new responsibilities. Think carefully about the pros and cons when using systems that see private customer info. Start small and build up gradually,” he says.

3. Mercian Accountants

Graham Loosley, senior partner at Mercian Accountants, is an FCCA with over 35 years of experience in UK accounting and tax. Loosely is using Quickbooks AI.

Loosley uses Quickbooks AI to streamline bookkeeping processes. Using AI that’s part of the software you’re already using, is a great way to start. The AI will complement your existing processes and, in theory, feel familiar.

When asked for a beginner tip on integrating AI, Loosely says, “Start with specific tasks, like automating repetitive processes. This saves time and improves accuracy, enabling professionals to focus on strategic decision-making.”

A common fear with the implementation of AI is that human connections will suffer, but when used thoughtfully, financial businesses can find the opposite to be true.

Loosely agrees, “Implementing AI in our firm elevated our service quality. Streamlining tax processes with AI not only improved efficiency but also allowed us to offer more personalized advice, strengthening client relationships.”

4. Subscription Stopper

Michael Guinan is the founder of Subscription Stopper, a platform transforming the way we handle recurring subscriptions. Guinan uses machine learning algorithms.

Michael Guinan’s Subscription Stopper uses machine learning to analyze user behavior and manage recurring solutions.

Guinan says, “Machine learning algorithms are at the core of our platform. They analyze user spending patterns to identify and categorize subscription payments efficiently. This not only ensures accurate tracking but also provides insightful spending analytics.”

When asked about tips for leveraging AI, Guinan says, “Start with data analysis. AI’s ability to sift through and interpret vast amounts of data can uncover hidden patterns and inefficiencies. For example, at Subscription Stopper, we used AI to spot recurring charges that often go unnoticed, helping users save money.”

Guinan’s tip provides a next step for those in the financial sector thinking about exploring AI and automation. His tip to try data analysis is a great start. It would save a lot of manual time and could analyze data faster and without human error.

Tools that Can Help

Marketing automation is a great way to streamline processes and provide a better experience for customers.

But, finding the right tool can be overwhelming or just time-consuming. We spoke to finance professionals who shared their favorite marketing automation tools.

1. Quickbooks AI

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Quickbooks AI has Intuit Assist. The AI is designed to help identify trends and recommend solutions.

Graham Loosley, cited above, recommended Quickbooks AI.

He says, “I have witnessed the transformative impact of AI tools. We leverage advanced AI algorithms to enhance accuracy and efficiency in data analysis and tax compliance tasks. Our go-to tool is QuickBooks AI, streamlining bookkeeping processes and allowing for real-time insights.”

Automation tools can identify trends and recommend solutions. This takes the manual (and time-consuming) work off your team. Their time is better spent getting the findings out to customers and nurturing prospective leads.

AI Features for Finance

  • Natural language processing
  • Automation with MailChimp

Core Features

  • You can use the AI assist to ask questions or get to reports quickly. The AI will deliver reports and insights straight to you
  • Ask the AI questions about anything you’d like to know, such as best-selling products
  • Automate Quickbooks and MailChimp to reach more customers and turn data into insights


  • Prices start from $97 a year

2. AlphaSense

marketing automation for financial services, AlphaSense

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Marcus Phillips, Founder and Managing Director of Mortgages, recommends AlphaSense. Philips mentioned the importance of staying updated in the finance industry.

With regular changes or regulations, Phillips recommends using AI to get the latest data and trends.

He says, “[AlphaSense] acts as a search engine and delivers all the information on a robust range of topics. Thanks to it, I am always one step ahead. I can utilize the data to have efficient negotiations with my clients.”

AI Features for Finance

  • Generative AI

Core Features

  • Generative AI has improved workflows for finance
  • You can identify patterns within data
  • A level up from the above is a summary of the data generated with the AI


  • Prices are customized
  • Free trials available

3. HubSpot’s Marketing Automation Software

Finance businesses using marketing automation are keeping in contact with their customers, boasting improved conversion rates and optimal email open rates.

Marketing automation can do a lot to benefit finance. It makes marketing faster and easier than ever. On top of that, you can run A/B split tests and get highly personal and targeted with your messaging.

AI Features for Finance

  • Workflows
  • ChatSpot

Core Features

  • A/B split test campaigns so you can test the marketing that’s most engaging for your audiences so you can drive the conversions that matter to your business
  • Integrate with HubSpot CRM for highly personalized marketing
  • Target messaging to the right segment with audience segmentation


  • Free to get started
  • Prices for individuals start at $18 a month
  • Prices for professionals start at $800 a month

4. Algoriz

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Danielle Roberts, co-founder at Boomer Benefits, uses Algoriz for financial market trading.

Roberts recommends it and says, “It allows me to create and test algorithmic trading strategies using historical and real-time data.”

Roberts shared a tip for getting started with finance and AI automation.

She says, “These tools can help you identify market trends and execute trades more efficiently, reducing the emotional bias in trading decisions and increasing the potential for higher returns.”

AI Features for Finance

  • Fully automate trading ideas
  • Turn on notifications for your desired triggers

Core Features

  • One database is connected to data vendors
  • You can securely connect broker accounts to Algoriz and allow the AI to do the trading for you
  • You can get notifications if you want to keep the trading manual
  • Algorithmic strategy development


  • Free to get started
  • Professional package is $29 a month
  • Premium package is $69 a month

5. Chatbots

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Chatbots were well recommended for the finance industry. Common use cases were on websites as a way of serving customers faster. A desire that finance professionals recognized in a post-covid world.

Carter Seuthe, CEO of Credit Summit Debt Consolidation, says, “I‘ve had pretty good luck with integrating AI and automation into certain customer service processes. I have noticed after the pandemic especially, there seems to be an expectation for immediate customer service when there’s an issue.”

Having some AI tools in place (like a chatbot on your website or automated responses to customer emails) can help give customers that immediate response they’re looking for, says Seuthe. This “can help resolve easy problems or questions without diverting an employee.”

Jennifer Kropf, founder of Wealthy Woman Finance, agrees that chatbots are both helpful and desirable for users.

She says, “Chatbots and virtual assistants have also been useful. By providing 24/7 guidance, it means clients always have access to basic info whenever they need. This has made customer service smoother while still letting me offer a personal touch when wanted.”

AI Features for Finance

  • Conversation AI

Core Features

  • Build a chatbot for your website without any code
  • Personalize chatbot replies when used in conjunction with HubSpot CRM
  • Conversational AI emulates human conversation so you can talk to your customers 24/7


  • Free to get started with HubSpot’s Sales Hub
  • Starter packages are $18 a month
  • Professional $450 a month
  • Enterprise $1,500 a month

Trends to Know in Marketing Automation for Financial Services

The finance sector has benefitted massively from automation and AI.

It’s clear to see that even the operational AI benefits are tapping into marketing success.

Summarizing data and writing reports with AI means that customers can get information faster and without distracting staff whose time is better spent adding to AI’s data collection and summarization.

Insights are shared with customers through marketing automation, such as emails and SMS triggered by actions.

The general consensus from finance professionals is that finance businesses should be keeping up with trends and investing time and money into AI and automation.

This advice often comes with a caution to tread carefully, start slow, and build up with automation.

Consider the tasks that are repetitive and undesirable for humans but high impact in terms of the problems they solve or time saved.

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