IBM: Gen AI to Transform Banking in 2025
Hey Digital Banking Fanatic!
Generative AI is set to revolutionize banking, with institutions shifting from pilot programs to enterprise-wide strategies. IBM’s latest study reveals that while only 8% of banks systematically used Gen AI in 2024, adoption is expected to soar this year as banks refine their strategic approach.
Shanker Ramamurthy, Global Managing Director at IBM Consulting, noted: “We are seeing a significant shift in how generative AI is being deployed across the banking industry... prioritizing targeted applications of this powerful technology.” As banks embrace AI-driven transformation, the focus will be on enhancing customer experience, optimizing operations, and modernizing IT infrastructure.
Scroll down for more exciting Digital Banking updates, and I’ll be back in your inbox tomorrow! 👇
Cheers,
Discover FinTech innovation across APAC. Stay informed with weekly updates—join now!
DIGITAL BANKING NEWS
📊 IBM Study: Gen AI will elevate financial performance of banks in 2025. The report shares insights from analysis of industry C-suite leader sentiment, bank customer behavior and economic data from eight major markets and what financial institutions and their ecosystem partners can glean from the trends.
🇦🇺 Lawpath secures $10 million from Westpac, deepening its partnership with a legal technology startup already used by 500,000 businesses nationwide. Lawpath allows small businesses to draft legal documents, ranging from contracts to employment agreements and privacy policies, without the need to recruit a lawyer first.
🇩🇰 Lunar appoints industry leader Nanna Bergmann to drive Moonrise expansion. This strategic move underscores Lunar's commitment to scaling its payments offering and establishing Moonrise as the leading payments partner for regulated FinTechs, PSPs and banks in the Nordics.
🇺🇸 Okoora announces its expansion in the US. The company is offering its Embedded Finance solutions and core API suite to financial institutions, FinTech firms, and non-financial businesses. This also includes multi-currency accounts, global payments, FX conversions, and currency risk management through hedging.
🇦🇺 CommBank and AWS expand collaboration to deliver global best cloud and AI capabilities. By rearchitecting a significant percentage of its workloads onto AWS, and using cloud native designs, Commbank is further simplifying the bank’s technology environment.
🇩🇪 N26 is about to launch a bank account for businesses. The bank already offers consumer accounts and business accounts for freelancers. Now, it is stepping up and getting ready to compete with other neobanks that have already been offering these business accounts.
🇵🇭 Netbank to deliver blockchain-based business financing to Jia Finance. By leveraging Netbank’s advanced banking infrastructure, Jia will scale its invoice financing solutions, bringing unprecedented access to capital for SMEs in the Philippines.
🇬🇧 Intelligent Search by Bud Financial set to be the foundation of customer AI experiences. Intelligent Search is able to understand and give detailed context to transaction search queries. It provides these detailed, actionable insights in a summary at the top of the list of transactions queried, turning transactional data into rich customer insights.
🇬🇧 GoCardless and Financial Cloud partner. The interface will allow businesses to manage payments and customer data in one place, providing actionable insights into customer behaviors and payment trends. The integration also enables merchants to scale – collections and payment reconciliation remain manageable, even as volumes grow in line with their customer base.
🇺🇸 Fiserv profit beats estimates as consumer spending remains robust. The firm beat Wall Street estimates for fourth-quarter profit, helped by strong demand in its banking and payments processing unit, sending its shares up 3.2% in premarket trade.
🇫🇷 Visma expands into France with Evoliz acquisition. This will boost Visma's offering across electronic signature, tracking of unpaid invoices with automated reminders, and managing purchase orders and delivery notes as well as automating expense collection, categorisation, and management of expense claims via a mobile app, supplier payments, and inventory tracking.
Want your message in front of 100.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
