Cross River Bank

Trump’s Washington Is Opening Its Doors to Eager Fintech Firms

After struggling to win much sway in a Biden-era Washington, some of the biggest fintech firms are now getting a lot more facetime on Capitol Hill.

South Korea Buy Now Pay Later Business and Investment Opportunities Report 2025

The "South Korea Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics - Q1 2025 Update" report has been added to ResearchAndMarkets.com's offering.

The tipping point for Generative AI in banking: Why 2025 will be a watershed year

The future of artificial intelligence (AI) in banking is promising, with AI set to unlock up to $1 trillion in annual value for banks. While predictive AI is already widely used in areas like fraud detection and risk assessment, Generative AI has yet to be fully adopted in banking. Challenges include the high cost of adoption and concerns over trustworthiness, especially in customer-facing applications.

Banks like TBC Uzbekistan are at the forefront of AI adoption, building their own infrastructure to integrate Generative AI while overcoming obstacles like data privacy. Advances in AI technology, such as the use of large language models (LLMs) for multilingual support, are creating new opportunities for banks, including smaller players. Trust issues with AI, such as "hallucinations" (misleading outputs), are being addressed through better training and model refinement.

As AI adoption grows, with banks allocating 22% of their budgets towards AI, the technology is driving efficiency and innovation. AI is already improving customer service, as seen with TBC's AI-powered payment reminder calls, and is expected to become a key driver of new product development. The next year could mark a turning point, where banks that embrace AI will lead the industry, transforming it from a tool for efficiency to a key driver of innovation.