Artificial intelligence isn’t just shaking up the banking world – it’s hitting an industry already going through big changes: PSD3, PSR, FiDA – and right in the middle of it all, the AI Act.
It might sound like a lot of regulation at first, but it actually opens up huge opportunities for banks: more efficiency, stronger security, and closer connections with customers.
In this newsletter, we’ll show how AI and Open Banking are working hand in hand – and highlight real-world use cases that are already making a real difference.
When AI Meets Open Banking:
8 Ways Europe’s Banks Can Boost Growth, Security and Customer Satisfaction
As if Open Banking wasn’t already complex enough! Not only is PSD3 – the follow-up to PSD2 – just around the corner, but new rules like the PSR (Payment Services Regulation) and, sooner or later, FiDA (Financial Data Access Regulation) are also on the way.
And now, banks and financial institutions also need to get to grips with artificial intelligence. That’s because the EU has introduced a regulatory framework for that too: the “Artificial Intelligence Act”, informally known as the AI Act.
BUT – no need to panic!
We’ve already done some thinking for you and put together the key points in a handy whitepaper on what to consider when AI meets Open Banking.
Download now our free Whitepaper.
Machine Learning and Artificial Intelligence in the Financial Sector
AI is a huge topic – just recently, a study made headlines claiming that 99% of all employees could be out of work within five years. A real headline-grabber. But is it really the case that AI will soon take all our jobs?
We think it’s time to take a deep breath and stop panicking. Instead of getting caught up in the hype, let’s take a more level-headed look at the basics of artificial intelligence.
When it comes to AI and the financial sector, we’ve already done just that – and summed it up in this article in our knowledge base.
Three Surprisingly Powerful AI Applications That Are Already Transforming Bank Branches
AI-Powered Hyper-Personalisation in Customer Consultations
Modern bank branches use AI to analyse customer data and deliver highly personalised advice – suggesting the right products in real time. It’s like having a digital assistant whispering the best recommendations directly into the advisor’s ear.
AI-Driven Image Recognition for Queue and Service Optimisation
Using video analytics, AI sensors detect how many customers are waiting, how people move through the branch, and whether additional support is needed. Staff are alerted automatically where help is required, dynamically improving the overall customer experience.
Autonomous, Real-Time Fraud Prevention
Cutting-edge AI systems continuously scan all in-branch transactions. When unusual patterns are detected, alerts can be triggered instantly – or in extreme cases, risky operations can be stopped altogether. This kind of lightning-fast prevention is nearly impossible with traditional branch technology.
Learn more about AI in banking.
And Finally – Some Fun Facts
AI Spots Suspicious Behaviour Before Humans Even Notice
Today’s AI systems in banks can detect suspicious transactions much earlier than traditional methods. Sometimes, they even flag quirky patterns – like someone ordering pizza and buying video games in the middle of the night, in quick succession.
While the bank employee is still scratching their head, the AI has already identified the “late-night gamer with the munchies” as unusual behaviour – and raises the alarm in no time!
Even greater security through verification.
Paper-Free Mortgages – Approved by AI
Spanish banking giant Santander was one of the first to introduce an AI-powered, fully end-to-end mortgage process. From uploading documents to analysing data and making the final lending decision – it’s all 100% digital.
A real-life “robot advisor” checks the application and gives the green light. Not only does it save loads of time – it also leaves customers genuinely impressed!
Don’t want to miss any more newsletters?
Then sign up for our free monthly newsletter.
Sign up
