944. Insights: The future of generative AI in financial services
Explore how generative AI is transforming financial services. Learn about AI adoption, regulation, fintech innovation, and its impact on jobs and customer outcomes.
About this podcast
Whether it’s in meetings with clients, at one of our events, or on this very podcast, it sometimes feels like generative artificial intelligence (GenAI) is all anyone ever wants to talk about.
So, where do we stand with GenAI in financial services today? And is financial services really where all the most interesting GenAI developments are happening?
Well, on today’s episode, host David Barton-Grimley is joined by some great guests to find out!
Key discussion points
What is Generative AI?
- AI that creates text, images, and decisions based on learned data
- Expansion into financial applications
AI in finance: Evolution & adoption
- Early uses of AI in finance (trading, credit scoring, market predictions)
- Shift from deterministic models to generative AI in decision-making
Mainstream adoption of AI
- AI expanding beyond peripheral use cases (marketing, research, automation)
- Integration into core banking processes like underwriting and onboarding
Regulation & data privacy challenges
- Compliance barriers—data security, privacy laws, and regulatory constraints
- The UK’s outcomes-based regulatory approach balancing innovation and risk
Fintech & AI disruption
- AI-native fintechs’ advantage in agility and customer-centric innovation
- Competitive landscape between fintech startups and traditional banks
The role of AI Agents and governance
- AI agents acting autonomously - opportunities and risks
- The need for guardrails and ethical oversight (the "teenager" analogy)
Measuring AI success in finance
- Prioritising customer outcomes over technical advancements
- Defining AI success metrics - efficiency, trust, and measurable benefits
AI’s impact on jobs & workforce upskilling
- Potential job displacement in research, automation, and content creation
- Importance of reskilling and AI-driven workforce transformation
This week's guests
- Aditi Subbarao - Global Financial Services Industry Lead at Instabase
- Colin Payne - Head of Innovation at The FCA
- Fernanda Dobal - Product Director of AI and Chat at Cleo
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About Fintech Insider:
Fintech Insider by 11:FS is a bi-weekly podcast dedicated to all things finance, banking, technology, and financial services.
Our expert hosts, with real industry experience, are joined by the biggest decision-makers, VCs, and reporters from across financial services including guests from Visa, Nubank, M-Pesa, Starling, and JP Morgan Chase to discuss the latest news, developments, and trends within the industry.
Our weekly news show drops every Monday and tackles the biggest news stories, from acquisitions and launches, to regulatory changes and innovation. Then, every Thursday our Insights show dives deeper into the hottest topics shaping the industry like web3 and BNPL.
Whether you’re already immersed in the world of financial services, or just keen to learn more, this is the #1 podcast for you.
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