IDFC FIRST Bank

AI is transforming BFSI with enhanced efficiency, risk assessment, and financial inclusion. However, managing bias, security, and regulations is crucial. A balanced approach with automation and human oversight will shape AI's future.

EY India has developed a 'Customised Fine-Tuned LLM' tailored specifically for Banking, Financial Services, and Insurance (BFSI) sector, promising to revolutionize customer service and operational efficiency. (Photo: X)

Endiya actively assists portfolio companies with product rollouts, customer acquisition hiring, and preparing for future fundraising rounds

Huntington Bancshares Inc., Fifth Third Bancorp and Valley National Bancorp are among regional US lenders that use artificial intelligence tools to scrape customer data, helping them personalize deposit offerings as competition for customers' money intensifies.

Prudential Financial's Lauren Clement wonders if new breakthroughs in AI could completely disrupt how the industry has long relied upon artificial intelligence.

In conclusion, Venkata Raja Ravi Kumar Gelle highlights that facial recognition adoption in banking marks a major shift toward smarter and safer financial services. With responsible implementation and continuous innovation, this technology can redefine customer interactions, setting new standards for security and service excellence.

DBS Bank to cut 10% workforce in 3 years as AI takes over key operations, with CEO Piyush Gupta outlining the impact of automation on banking jobs

The revamped Central KYC aims to simplify and standardise KYC procedures across the financial sector, ensuring greater security and efficiency