AI's Potential in Banking and Payments – A Joint Arkwright and DataArt Report
A new joint Arkwright and DataArt report sheds light on the potential of Artificial Intelligence (AI) in reshaping the banking and payments landscape. Research indicates a compelling case for AI—from NVIDIA's findings that over 80% of financial services professionals have seen cost reductions and revenue increases to the European Investment Bank forecasting a 30% revenue boost and a 25% cost decrease—the argument for AI integration is stronger than ever.
Get Your AI in Retail Banking and Payments Report
Get Insights on Key AI Applications and Strategies:
- Detailed analysis of AI's role in enhancing customer service, forecasting, and data management.
- Evidence-backed projections of revenue growth and cost savings achievable through AI.
- Strategic guidance for a systematic AI adoption, from planning to execution.
Despite the promising outlook, many companies in the sector are still in the nascent stages of leveraging AI. To assist companies in overcoming challenges and setting a clear path forward, the report suggests establishing an ‘AI playground’ for testing and refinement underpinned by technical and compliance considerations.
Through a detailed presentation of practical use cases and a robust framework developed from a wealth of technical and managerial expertise, Arkwright and DataArt provide a valuable resource for financial institutions aiming to harness AI for heightened efficiency and growth.
Secure a copy of the report and position your organization at the forefront of the AI revolution in finance, equipped with actionable strategies and in-depth insights.
About DataArt
Founded in 1997, DataArt is a leading global software engineering firm and the Partner for Progress in the digital age. Guided by our people-first principle, our world-class team designs and engineers data-driven, cloud-native solutions that generate immediate and enduring business value. Through our 20+ domain-specific Labs dedicated to R&D and strategic innovation, we work with our clients to ensure they stay on the leading edge.
Headquartered in New York City, DataArt brings together 5,000+ experts across 30+ locations in the US, Europe, Latin America, India, and the Middle East, with clients including major global brands like Unilever, Priceline, Ocado Technology, Legal & General, and Flutter Entertainment. Recognized as a 2023 Newsweek Most Loved Global Workplace and 12 times as an Inc. 5000 Fastest Growing Private Company, we are proud of our reputation as a great place to work and partner with.
About Arkwright Consulting
Arkwright is a management consulting firm offering strategy advisory services to private corporations, NGOs, investors, and start-up companies. Amongst several different industry-dedicated teams, our Digital, Payments, and Digital Banking practice is one of the most experienced globally, positioning Arkwright as a high-end digital financial services and payments specialist strategy boutique.
With clients that include major financial institutions, central banks, technology providers, institutional investors, internet marketplaces, and media organizations, Arkwright has hands-on leading and supporting the development of digital strategies and digital transformation.