There may be no clearer use case for AI than leveraging the technology to transform manual processes and boost operational efficiency. From cross-border payments to document management to fraud investigation to underwriting, fintech innovators have embraced AI to empower banks, credit unions, lenders, and other financial institutions to become more efficient, analyze data better, cut costs, meet compliance obligations, and provide more personalized service to their customers and members.
Beyond simply deploying AI, these fintechs in many cases represent an emerging generation of infrastructure providers that facilitate bank and credit union modernization without requiring them to "rip and replace" their existing core systems. By helping banks and credit unions meet emerging regulatory mandates, boost efficiency, and compete with rivals within and outside of financial services while keeping the cost of modernization low, these innovators are key partners for financial services firms that are eager to deploy new technologies but are…
