The Future of Banking To Be Driven by Artificial Intelligence; New Report States

With dedicated regulation now emerging for fintechs and digital banks in some jurisdictions, it's a case of adapt or die for incumbent players. But banks have one asset on their side – data. With around a billion credit card transactions every day, banks have access to one of the largest volumes of customer data of any industry. Using AI, banks can harness this information to unlock unparalleled insights and growth. It's estimated that AI technologies could deliver up to $1 trillion of additional value each year for the global banking industry, combining a deep understanding of customer needs with the composable cloud architecture to roll out hyper-personalised services at scale.