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Next Year Could Be a Turning Point for AI in Financial Services

Banking on AI
November 20, 2024
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Featured in FF News:

"At Money20/20 we spoke to Ed Maslaveckas, CEO of Bud, who shared some reliably bold insights on the transformative potential of AI in financial services.

While acknowledging the hype, he points out how it can help and adds to the growing anticipation that the technology could really add a lot of value to the industry by 2030. We also hear about the emerging role of “agentic AI,” which goes beyond recommendations to perform actions on behalf of users and the potential for fintechs to outpace traditional banks by adopting these tools.

One thing’s for sure, 2025 will be a turning point.

Maslaveckas isn’t afraid to share bold predictions as we discovered when we featured Bud in the most recent edition of The Paytech Magazine. You can read the full article here. Here he adds more insight to the current state of AI with a focus on both immediate applications and the next frontier—agentic AI."

As Bud continues to innovate in agentic AI, Ed remains optimistic about its ability to transform not only customer experiences but also the operational fabric of banks. The big question, he concluded, is whether traditional institutions can move fast enough to stay competitive—or whether fintechs will seize the opportunity to lead the next era of banking. There’s no doubt in his mind that AI is not just a trend – it will revolutionise the future of financial services.
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