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Banks pour billions into AI, but most see no ROI. Here's why - The Business Times
Some banks are applying AI within their private banking units and making revenue gainsTHE private banking divisions of banks have long struggled to serve customers other than ultra-high-net-worth individuals. Tasks such as portfolio research, client profiling, and compliance are simply too time-consuming to offer to any but the richest clients.This constraint has remained despite the rapid expansion of mass affluent households across high-growth markets. In turn, it has created a big opportunity for premium banking services, yet the industry has been unable to tap it.Artificial intelligence co-pilots have emerged as a solution to this supply and demand mismatch. However, the gap between promise and revenue is wider than most banks want to admit. Here’s why.Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
This bank used an AI clone on its earnings call; plans to automate lending, onboarding - BusinessToday
Customers Bank CEO Sam Sidhu is positioning AI not just as a productivity tool but as a lever tied directly to financial performance. He said the initiative is expected to improve the bank’s efficiency ratio from about 49 to the low 40s, boosting returns as early as next year.Customers Bank CEO Sam Sidhu In a move that showcases how quickly artificial intelligence is entering core banking operations, Pennsylvania-based Customers Bank CEO Sam Sidhu revealed that part of his prepared remarks during the firm’s first-quarter earnings call were delivered not by him, but by an AI-generated version of his voice. “The prepared remarks you heard on my behalf today were delivered by my AI clone, not read by me,” Sidhu said during the call, describing it as a potential first for a public company earnings discussion.Related Articles“It took 9 seconds”: AI agent running on Anthropic’s Claude Opus 4.6 wipes critical database“A $15 billion blueprint for a full-stack AI ecosystem”: Google’s Bikash Kolay on Vizag AI hub The disclosure comes as the $25.9 billion-asset lender deepens its push into AI, signing a multi-year partnership with OpenAI to embed engineers within the bank and automate key operations, including lending and client onboarding, according to a report by CNBC. Sidhu is positioning AI not just as a productivity tool but as a lever tied directly to financial performance. He said the initiative is expected to improve the bank’s efficiency ratio from about 49 to the low 40s, boosting returns as early as next year. The partnership is structured as a co-development effort rather than a typical vendor relationship. “We’re going to be co-creating enterprise solutions they could potentially sell to other banks in the future,” Sidhu said. “The goal here is end-to-end, automated agentic-led workflow” for lending, deposits and payments. For OpenAI, which has been increasingly targeting financial services as a key vertical, the collaboration offers access to real-world deployment inside a regulated banking environment. “We are proud to support Customers Bank as they build a more intelligent operating model that empowers employees, strengthens client service, and sets a new standard for regional banking,” said Denise Dresser in a statement. From weeks to days Customers Bank plans to roll out AI agents across lending, deposits and payments over the next six to 12 months. If successful, Sidhu said the time taken to close a commercial loan, currently 30 to 45 days, ...
AI Is Rewriting Banking Systems Faster Than Ever With Quantum Financial Shift | MEXC News
The broader financial industry is closely watching these developments as they have the potential to reshape competitive dynamics. Institutions that successfully adopt AI driven modernization strategies may gain significant advantages in speed, efficiency, and innovation capacity.
AI to reshape financial market infrastructure, says State Bank of India chairman CS Setty - The Economic Times
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