Shaping the Future of Decisioning: How These Leading Financial Services Providers are Making Bold Moves to Win Big with AI

An Australian multinational bank, CBA is one of the leading banks in the region, serving more than 17 million customers. With a recent mammoth investment in advanced tech (the bank spends about $1 billion per year on growth-focused technology), CBA has integrated AI across various operations including fraud detection and customer service. They are using it to resolve 15,000 payment disputes lodged by customers every day (reducing call center waits by 40%), and in some cases have reduced the time it takes to approve small business loans to under ten minutes thanks to AI.

Serving millions of customers in over 100 global markets for more than 200 years, JPMorganChase has long been on the cutting-edge of using tech in its business. Now, the company is using an advanced AI system to automate key aspects of the loan approval process, using machine learning to analyze various data points to enhance the speed and accuracy of credit assessments. Overall, the company is focused on using AI for a variety of efficiencies across the business, with chief executive Jamie Dimon claiming AI tech could cut the working week to only 3 ½ days.

One of the world’s leading financial institutions, Bank of America serves everyone from individuals and small businesses to massive corporations and governments with a full range of banking and investment products and services. Recently, it has invested over $3 billion in Generative AI capabilities to enhance operations, and its AI-powered fraud detection system has been able to reduce credit card fraud losses by 45% (which translated to an estimated $500 million saved in 2024 alone).

As part of Canada’s tightly controlled banking landscape, BMO is one of the country’s top financial institutions (and the 8th largest bank in North America by assets), offering 13 million customers a variety of products and services. BMO has been utilizing AI to improve report creation times and operational efficiency, recognizing streamlined processes with improvement to revenue and significant cost savings. The use of AI has been able to reduce manual effort on BMO’s equities team from more than four hours a day to less than one, freeing up time for more strategic tasks.

UK-based Schroders Capital is the private markets investment division of Schroders, with $97 billion in assets under management across private equity, private debt, and more. In 2024 they announced the launch of their Generative AI Investment Analyst (GAiiA) platform, aimed at improving accuracy and speeding up analysis of large volumes of data, and allowing their investment specialists to focus more strategically on delivering value to clients.

Known for revolutionizing the credit card industry with data and tech, Capital One is one of the most recognized banking brands, serving over 100 million customers in a variety of locations. And now, they are also leading in AI adoption among large banks in the Americas and Europe. Their significant investments in AI help them understand customers’ needs and have greatly enhanced their decision-making processes. They are also using AI for real-time fraud prevention and detection, using advanced algorithms to handle evolving fraud threats and reduce false positives.

As the largest bank in Brazil, Itau Unibanco has been at the forefront of digital transformation in the region, investing heavily in AI to enhance customer service and operational efficiency. In using AI, they have been able to personalize customer interactions, improve credit scoring, and enhance fraud detection and prevention, resulting in robust financial performance and their continued market dominance.

One of the largest financial institutions globally, Santander Group features over 170 million customers in Europe and the Americas, 3.5 million shareholders, and over 200,000 employees. Faced with the threat of rising loan defaults, Santander has adopted a more proactive approach with the use of AI-powered predictive analytics. Using AI models that digest a combination of historical data and real-time account monitoring, they are able to identify and intervene earlier, offer tailored advice to customers, and optimize their resource allocation for improved efficiency.

Based in Singapore, DBS Bank is a multinational organization, and one of the largest banks in Asia, with over 40,000 employees in 19 markets. Widely recognized for their digital transformation efforts, DBS Bank is using AI for credit risk assessment, personalized marketing, and enhanced customer service experiences through the use of AI-powered virtual assistants. With their AI-driven strategies, they have improved customer satisfaction and increased operational efficiency, contributing to their reputation as a market leader.

Malaysia-headquartered CIMB is actively incorporating AI into its banking services, using advanced analytics and machine learning models for credit scoring, fraud detection, and chatbots for enhanced customer engagement. Thanks to AI, CIMB (the fifth largest banking group in ASEAN with over 26 million customers, and a world leader in Islamic finance) has been able to make more accurate credit assessments and improve fraud detection rates across a variety of business lines.