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Banks are set to significantly boost their technology budgets in 2025, focusing on security, fraud prevention, data analytics, and AI. A recent survey by American Banker revealed that over 80% of banking executives plan to increase their tech investments, with a strong emphasis on cloud computing and digital services. The survey highlighted that enhanced security and fraud mitigation are the top priorities for tech spending.
Artificial intelligence is emerging as a critical tool for banks, particularly in combating fraud and money laundering. However, challenges such as budget constraints and implementation difficulties are hindering AI adoption. The research indicates that improving data analytics is essential for successful AI integration, as it provides the necessary foundation for effective AI models.
• Over 80% of banks plan to increase tech investments in 2025.
• AI adoption faces challenges like budget constraints and implementation difficulties.
AI is viewed as essential for fraud mitigation and enhancing banking operations.
Data analytics is crucial for developing successful AI models in banking systems.
Cloud computing is a priority for banks, facilitating digital banking and application migration.
Opus Technologies focuses on driving change in financial technology, particularly through AI.
Sage Capital Bank is upgrading its digital banking services with a partnership with fintech Apiture.
The Financial Express 9month
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