The New Engine Room: The Rise of AI in FinTech
AI has moved from the boardroom whiteboard to the core of daily operations in finance. It’s no longer a futuristic promise but a practical, powerful tool that is actively reshaping how financial firms operate, compete and manage risk.
The industry’s adoption rate tells a clear story. With three-quarters of financial organisations now actively using AI, a sharp increase from 58% in 2022, the technology has become a competitive necessity. As the fintech sector grows towards a projected annual revenue of US$1.5tn by 2030, AI is fundamentally linked to that trajectory, driving efficiency and enabling new services.
From back-office guard to front-door gatekeeper
Nowhere is AI’s impact more critical than in the fight against financial crime. As regulations like the EU’s Instant Payments Regulation demand near-instant transaction settlement, the window to catch fraud has all but vanished. “Traditional post-transaction screening is obsolete,” explains Irene Skrynova, Chief Customer Officer at Unlimit. “The new standard is AI-driven, preemptive fraud prevention.”
This is where advanced systems from companies like ThetaRay come in, using a form of AI that mimics human intuition to spot subtle, suspicious patterns that older, rule-based systems would miss.
Beyond security, AI is also being used to rewrite the rules of credit. By analysing alternative data points, firms like Lendbuzz are building more inclusive risk models, opening up access to finance for people often overlooked by traditional credit scoring.
A smarter conversation with your money
For customers, the most visible signs of AI are appearing in their banking apps. Starling Bank, for instance, is using Google Cloud’s Gemini models to let customers ask plain-English questions about their spending habits.
But this deepening relationship comes with a challenge: trust. While consumers are happy for AI to help with research, a Cognizant study found significant hesitation in letting it make purchasing decisions for them. The rise of sophisticated fraud tactics only amplifies this concern. “Deepfakes risk destroying trust, and banks are at the centre of trust,” notes Robert Benyo of Cognizant, highlighting the delicate balance firms must strike between innovation and security.
The industry gathers to take stock
These challenges and opportunities are precisely what industry leaders are grappling with. The conversation will take centre stage at FinTech LIVE London 2025, where a key panel, ‘AI in FinTech’, will convene.
The discussion will feature perspectives from Amit Thawani of Lloyds Banking Group, Sam Bridges‑Sparkes from Shawbrook Bank and industry analyst Susanne Chishti of FINTECH Circle. By bringing together voices from established institutions and agile challengers, the panel aims to cut through the hype and focus on the strategic realities of implementing AI responsibly and effectively.
Get your tickets here to be part of the conversation.
Beyond automation to true intelligence
Looking forward, the application of AI is set to become even more sophisticated. The use of generative AI to create synthetic data, for example, allows institutions to train their models on rare financial events without using sensitive customer information.
- 75% of financial firms now use AI, a rapid increase from 58% in 2022, showing widespread industry adoption
- The global fintech market, heavily influenced by AI, is projected to generate US$1.5tn in annual revenue by 2030
- Advanced AI is crucial for real-time fraud prevention, a necessity driven by new instant payment regulations across Europe
The mandate for fintech leaders is straightforward. As Manoj Chaudhary, CTO at Jitterbit, argues: “In fintech, where trust and accuracy are paramount, AI must complement human judgement, not replace it.” For financial institutions, mastering this human-AI partnership will be the difference between leading the market and being left behind.
About FinTech LIVE London 2025
Each year, FinTech LIVE London serves as a central meeting point for leaders and innovators across the financial spectrum: from banking and payments to insurtech and crypto. The event offers a packed agenda of keynotes, workshops and panel discussions designed to tackle the industry’s most pressing questions.
It's an opportunity to hear directly from the people building the future of finance and to connect with peers from around the globe. For those looking to engage directly with the topics shaping the industry, the conference is a prime opportunity.
Tickets are available now for those who want to secure a place at the conversation.
