Artificial intelligence (AI) is rapidly reshaping the global banking landscape, streamlining operations while enhancing customer trust. As evidenced by the institutions recognized in Global Finance’s AI in Finance Awards 2026, AI has evolved from an experimental technology to a cornerstone of banking operations, influencing everything from customer service to risk management.
Leading banks are quantifying the economic impact of AI in the hundreds of millions of dollars. Their strategies reveal a dual approach: democratizing AI within organizations through internal generative tools while deploying targeted applications for maximum effect. For instance, Akbank is reinventing consumer experiences with proactive assistance, while Citi is positioning AI as a co-pilot for its investment bankers. This transformation is rooted in a decade-long commitment to cultivating a data-first culture supported by a strong ethical framework.
The integration of AI has drawn significant attention, particularly in the case of DBS Bank, a leader in AI deployment that has achieved considerable economic benefits. In 2024, DBS estimated the impact of its AI initiatives at approximately SG$750 million (around US$573 million) with projections exceeding SG$1 billion this year. The bank’s comprehensive AI strategy includes using generative AI assistants in customer service, which shortens call handling time by up to 20%, and AI-enhanced risk management models that outperform traditional methods by a factor of five in detecting credit risks.
DBS has fostered a culture conducive to innovation through its in-house platforms like ADA and ALAN, which expedite AI model deployment. The bank’s ethical governance framework, termed PURE—purposeful, unsurprising, respectful, and explainable—ensures responsible data use, bolstering customer trust. The establishment of a dedicated Data Chapter, comprising over 700 professionals, emphasizes data-driven decision-making and prepares employees for a future increasingly influenced by AI.
AI Leaders in Banking
DBS Bank’s dual recognition as the best corporate/institutional AI bank highlights its strategic integration of AI to streamline operations for corporate clients. The implementation of AI and generative AI tools has reduced the Know Your Customer (KYC) processing time by 33% and accelerated corporate account openings. By employing predictive analytics for personalized recommendations, the bank has observed a 29% increase in outward payments, contributing to enhanced current account and savings balances.
Meanwhile, Akbank has earned accolades as the Best Consumer AI Bank, leveraging AI to create an exceptionally personalized digital banking experience. Its AI-powered digital assistant, known as Akbank Assistant, exemplifies proactive customer service, automatically addressing issues such as card limits to prevent payment failures. This assistant performs over 200 banking transactions autonomously, alleviating burdens on call centers and facilitating over 250,000 monthly requests from internal staff.
Akbank’s AI initiatives are grounded in ethical principles articulated in its Artificial Intelligence Manifesto, which underscores social benefits, sustainability, and data privacy. The bank reports a remarkable 96% digital migration rate, with customers interacting with its mobile app more than 30 times monthly.
In the realm of investment banking, Citi is advancing its operations through AI that acts as an augmentation tool for human capital rather than a replacement. Its suite of internal generative AI tools, including Citi Assist and Citi Stylus, revolutionizes the efficiency of research and analysis. These tools rapidly summarize extensive financial documents, extracting insights that help analysts navigate regulatory frameworks effectively.
AI’s role in enhancing due diligence processes is evident, with the technology scanning legal documents and identifying risks to efficiently execute mergers and acquisitions. Additionally, Citi’s AI capabilities extend to operational improvements in back-office functions, enhancing fraud detection and client onboarding while reducing costs and improving security.
AI’s integration is not confined to internal operations; Citi is harnessing its capabilities to offer tailored services to clients, producing actionable insights that anticipate client needs. This proactive stance allows Citi to maintain its competitive edge in a rapidly evolving marketplace.
As the banking sector continues to embrace AI, the implications for customer service, operational efficiency, and risk management are profound. Institutions like DBS, Akbank, and Citi exemplify how a strategic focus on AI can create economic value, enhance client relationships, and set new standards for the industry. The future of finance promises to be not just innovative but inherently intelligent, driven by the transformative power of AI.
For further information on AI integration in finance, visit Global Finance and explore initiatives at DBS Bank, Akbank, and Citi.
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