“American megabanks on Tuesday gave evidence that the global artificial intelligence boom isn’t just benefiting tech giants and chip makers. Goldman Sachs and JPMorgan Chase each posted record quarterly revenue hauls, fueled by massive gains in equities trading and investment banking.” Read more >>
Early AI adopters set to dominate European banking market – Visa study
“More than 90% of European banks already use some form of AI across their major business functions and 86% of respondents believe AI will reshape retail banking by 2030, with 61% expecting early movers to dominate their markets. Almost half of banks continue to anchor investment around operational efficiency or employee productivity, while fewer than…
Backbase buys Kasisto to expand agentic AI banking capabilities
“According to Backbase, the transaction is part of its plan to build what it calls the Unified Frontline, ‘one operating model where customers, employees, and AI agents operate as one with shared context, governed authority, and the same source of customer truth.’” Read more >>
From Bot to Coach: How AI Is Redefining Banking Customer Relationships
“The banking app is finishing its transition from a digital teller to a financial coach, and the customers who adopt that coach will increasingly judge their bank by the quality of its guidance, not just the speed of its transactions. The opportunity is to become the trusted financial relationship in a customer’s life rather than…
Citi CEO says 2 AI races are shaping future of banking
“‘There are two races in AI at the moment,’ she said. ‘One is to apply AI to the business models, which we all have to do as that will help drive revenue growth.’…The second race was a defensive one to fortify the financial ecosystem against sophisticated threats. ‘These AI models are very powerful, and our…