This report explores how generative AI is being adopted in banking, emphasizing its current use in middle- and back-office functions like coding assistance, staff-facing chatbots, and intelligent document search due to concerns about hallucinations and regulatory risk. While front-office and fraud applications show promise for enhancing user experience and anti-money laundering efforts, trust issues hinder rapid deployment. GenAI is already live across banks, integrated into tools from cloud providers to fintech vendors. As the technology matures, broader adoption across customer-facing and operational areas is expected.

Join for free to read