Dana Lunberry, PhD | Source | Head of Data Strategy at Sopra Banking Software

Although banks have ample data, they have historically lacked the systems and processes to leverage it effectively. However, recent technological advancements have changed this landscape. In the coming year, we’ll see financial organisations investing more heavily in modernising their data infrastructure. For many, this will include enhancing data management capabilities so that AI-driven tools, such as generative AI and machine learning models, can effectively personalize customer experiences, optimise risk management and automate compliance – enabling a shift from reactive data handling to proactive, predictive decision-making. AI-powered data warehouses and real-time analytics platforms now allow institutions to derive deep customer insights rapidly, scaling and adapting services at speeds unimaginable a decade ago. This evolution will enable banks to transform decades of legacy information and new data streams into innovative products, services and experiences, creating a significant competitive advantage.