Experts in the industry believe that the financial sector is undergoing a dramatic transformation, driven by the convergence of data strategy and artificial intelligence (AI). As regulatory pressures mount and customer expectations evolve, financial institutions are leveraging these technologies to enhance operations, manage risk, and deliver personalised experiences.
Data as a strategic asset
Modern institutions now treat data as a strategic asset. According to a 2024 McKinsey report, over 70% of global banks have made data strategy a top-three digital transformation priority. This shift goes beyond collecting information—it’s about embedding insights into every decision. Real-time dashboards and analytics empower banks to anticipate shifts, understand behavior, and spot inefficiencies early.
AI-powered risk management and fraud detection
AI’s most immediate impact is in risk management and fraud detection. Automated systems analyse large datasets to identify suspicious patterns and threats in real time, reducing manual work and detecting issues earlier than traditional audits. Machine learning models, such as those championed by global tech leader Archana Pattabhi, claim to have transformed compliance and risk processes. These innovations help banks meet regulatory demands quickly and minimize fraud losses.
Personalisation and customer experience
“AI is redefining engagement through hyper-personalisation. Financial firms now analyse customer data to deliver tailored products, real-time advice, and proactive support—deepening loyalty. Digital twins and predictive models enable more accurate forecasting of trends and regulations,” Pattabhi said. Under her leadership, AI-powered platforms reduced manual reviews by 20% and audit cycles by 45%. Her integration of digital twins—virtual financial replicas—enables 70% greater predictive accuracy. “AI isn’t just about efficiency,” she notes. “It’s about building resilience.”
Regulatory compliance and ethical AI
As AI becomes embedded in core financial operations, concerns around fairness, transparency, and accountability are intensifying. Regulatory bodies in the EU and US are introducing frameworks to ensure AI-driven decisions meet standards for consumer protection, anti-money laundering, and data privacy. Experts like Ms.Pattabhi emphasize the importance of robust data governance, ethical AI frameworks, and regular audits to build public trust and ensure compliance.
The road ahead
Pattabhi emerges as a visionary force in this transformative journey. Backed by over 21 years of global experience, she has led the development of enterprise-wide risk programs, robust data quality frameworks, and AI-powered risk mitigation strategies for leading financial institutions. Her work has redefined industry standards, significantly cutting down manual processes and enhancing the speed of risk identification.
The fusion of data and AI is essential for institutions seeking resilience, agility, and growth. As Pattabhi notes, “AI isn’t just transforming how we operate—it’s reshaping how we anticipate, adapt, and lead in a dynamic financial world.” The future of finance belongs to those who harness data and AI to build secure, transparent, and customer-focused ecosystems.
