Smart Marketing in Banking: How Artificial Intelligence is Changing Relationships?

The change of the banking industry towards intelligentization shows a deep change in the relationship between the bank and the customer. The growing interest in artificial intelligence in academia and business emphasizes its important role in customer service. This study presents a smart marketing model or an approach to artificial intelligence technology in the banking industry. The research method is qualitative in nature and exploratory in nature. In this study, data were collected from semi-structured interviews that were conducted in-depth. The statistical population of the study consisted of 14 managers and vice presidents of Pasargad Bank in Tehran using convenience sampling. Thematic analysis method was used to analyze the data. The findings led to the identification of 4 main themes: smart marketing strategy, marketing mix, competitive advantage, and ethical governance. Also, 13 sub-themes and 49 codes were identified. The results indicate that smart marketing management in the banking industry using artificial intelligence can improve customer experience and increase process efficiency. The use of analytical data and advanced algorithms not only personalizes financial services, but also helps banks better understand customer needs and behaviors. Ultimately, this approach can significantly increase banks' competitiveness in the market.