Finance Derivative Awards is established with the aim of honoring excellence in performance and rewarding Companies across different domains of business & financial world.
Our award honors companies and their key players who have performed extraordinarily well and who strive for fineness & provide a platform for recognition.
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FROM THE CEO
Embracing Transformation in Finance –Innovation with Integrity
In an industry that once measured success by stability, we now find that agility is the new currency of resilience. As digital acceleration continues to redefine banking, wealth management, compliance, and the very nature of money, Finance Derivative proudly stands at the epicenter of this evolution—curating insights, spotlighting visionaries, and celebrating innovation that matters.
This issue showcases how financial institutions are embracing not just transformation, but accountability. From programmable money and cyber resilience, to AI’s powerful role in wealth management and regulatory risk, we explore how industry leaders are moving beyond the buzzwords to implement real, scalable solutions.
We also shine a light on the global pioneers who are shaping finance with purpose—from digital leadership in the Middle East to commitment to responsible investing in Europe. Each story represents not just excellence, but a roadmap toward a financial system that's future-proof, inclusive, and secure.
The Finance Derivative Awards remind us that brilliance comes in many forms— whether in digital payments in Oman, sustainable investing in Belgium, or fintech innovation in Kenya. We honour these changemakers for showing what is possible when bold vision meets execution.
As AI evolves and consumer expectations rise, trust will be the differentiator. The path forward isn’t just digital—it’s human. It’s powered by ethical leadership, strategic risk-taking, and a relentless pursuit of progress.
Here’s to the firms who don’t just adapt to change—they lead it.
Happy Reading !!
Warm regards,
Mehtab Chisti CEO
FINANCE:
8. Financial services at the digital crossroads: Why resilience is the real priority
14. The Digital Euro: The key challenges for the currency in 2025
28. The silent risk for finance firms in digital resilience: What if your vendor fails?
40. The social credit score: How financial brands can win over Gen Z
42. Beyond Compliance: Why Fraud Is Reshaping the Future of Finance
48. What to look for in a transaction monitoring system
54. Deepfakes, Imposters and Lies: Why AI is a major content threat for financial services
Financial services at the digital crossroads: why resilience is the real priority
Steve Burden, Director of Connectivity & Cyber Security, Wavenet.
Financial services stand at a digital crossroads. Rapid cloud adoption, hybrid workforces and shifting customer expectations are driving innovation, whilst also expanding areas of risk and threat.
Recent cyber attacks targeting retail giants such as M&S and Cartier have awakened business leaders sector-wide (if they weren’t already) to a fundamental truth. Cyber security in today’s age is a board-level imperative, tightly interwoven with regulatory compliance, customer trust and business continuity.
Financial institutions can safely navigate this digital crossroads by embedding cyber security into every stage of their digital journey. This begins with secure hybrid cloud migration and encompasses backup and disaster recovery planning, as well as readiness for regulations such as the Digital Operational Resilience Act (DORA), an EU regulation which came into force in January 2025.
Resilience over security
Going beyond cyber security (threat prevention, in basic terms), cyber resilience should be the ultimate goal for financial services firms. Security can help you prevent attacks. But ‘when’ (not ‘if’) systems are breached, resilience determines your ability to survive and recover.
This is the art of maintaining operational integrity in the face of inevitable disruptions. From malware outbreaks and distributed denial of service (DDoS) attacks, to human error and third-party failures, resilience means being able to withstand, respond to and recover from incidents without compromising service delivery or customer data.
For us at Wavenet, a strong cyber resilience strategy includes four key factors:
1. Immutable backups and air-gapped data to restore operations cleanly after an attack
2. Clear incident response protocols which define roles and ensure timely action
3. Disaster recovery and business continuity plans tailored to critical systems and their dependencies
4. Regular testing and rehearsals to confirm that plans actually work under pressure
This is where DORA offers a comprehensive framework upon which to base a solid cyber resilience strategy. It brings operational resilience into regulatory scope for financial firms and their ICT providers. It mandates robust capabilities across five pillars: ICT risk management; incident reporting; resilience testing; third-party oversight; and information sharing.
While many firms already align with established standards like ISO 27001, DORA raises the bar. It requires a holistic view of cyber risk, including third-party vendors and cloud services. It demands evidence of regular testing and rapid incident response. And it highlights the need for secure, recoverable data systems across complex, hybrid environments.
For Wavenet customers, this is not new territory. We've helped major UK financial institutions develop resilience roadmaps, modernise backup systems and implement secure hybrid cloud solutions that meet both performance and compliance goals. From immutable backups and cyber incident response to managed detection and response (MDR) services, our goal is to provide end-to-end cyber resilience across people, processes and platforms.
Secure digital transformation
As financial organisations modernise their infrastructure – whether migrating contact centres to the cloud, adopting AI for customer service or deploying unified communications – cyber security must evolve alongside. Legacy systems can’t keep up with the pace of change, nor can
they offer the level of visibility and control that regulators now expect.
We focus on five key areas here:
1. Hybrid cloud architectures with secure data flows and consistent policy enforcement
2. Integrated security across networks, endpoints and applications (as opposed to isolated tools)
3. Real-time visibility and automated threat response through specialist tools like EDR, NDR and SIEM
4. Expert teams monitoring and managing the cyber security solutions providing around the clock detection and immediate threat response
5. A comprehensive threat-led penetration testing, red teaming and cyber incident exercising framework
Giving attention to these five areas allows digital transformation to serve as a sure pathway to stronger security, smarter operations and better customer experiences – all critical elements in the high-stakes sector of financial services.
Yes, cyber threats are evolving. But so are the tools to manage them. With the right strategy, financial firms can move faster, serve customers better and still meet the highest standards of security and resilience.
Wavenet helps organisations in the financial sector strike the right path from that digital crossroads, not only enabling them to meet regulatory expectations and maintain customer confidence, but also, critically, ensuring that cyber resilience is built in holistically… not bolted on as an afterthought.
Learn more about CyberGuard, Wavenet’s cyber security services, at Wavenet. co.uk.
Why the next era of banking demands embedded innovation
Over the past decade, banks have been slow to transform - slower than consumers, slower than technology, and critically, slower than the competition. While innovation labs and digital transformation units were set up as symbolic gestures toward the future, too many traditional financial institutions still treat innovation as a siloed function - an experiment on the periphery of the real business.
Meanwhile challenger banks, neobanks, and fintech startups have moved aggressively to capture market share by focusing on user-centric design, speed, and accessibility. They launch features in months, not years. They don’t debate whether to digitise processes, they were born digital. They don't do innovation, they are innovation.
To compete in this world - one shaped by AI, automation, and rapidly evolving customer expectations - banks must elevate innovation to a central, strategic role. One that drives resilience, fuels growth, and protects long-term competitiveness.
Innovation as a survival strategy
Innovation in banking isn’t about gimmicks or flashy pilots anymore. It’s about building the operational muscle to detect and respond to change - whether that’s AI-driven fraud prevention, hyper-personalised customer experiences, or streamlining compliance with automation.
At FounderNest, we’ve seen this shift firsthand. We work with innovation and strategy teams across financial services and beyond, and the ones driving real impact have one thing in common: they embed innovation across the business - aligning it with revenue growth, cost efficiency, risk mitigation, and long-term competitiveness.
This means putting innovation on equal footing with risk, finance, and compliance. It means integrating technology and market intelligence directly into decision-making. And crucially, it means moving away from slow, siloed processes and toward a culture that rewards experimentation, speed, and learning.
The importance of leadership buy in
A winning innovation strategy starts by aligning initiatives with core business objectives. It requires a structured, test-andlearn framework that lets teams validate and scale ideas with speed - and track
measurable outcomes, from cost savings to operational efficiency.
But strategy alone isn’t enough. Innovation must be championed at the top. When leadership treats it as a long-term priority - allocating resources, taking smart risks, and communicating a clear vision - it sends a powerful signal. Innovation is no longer “extra,” it’s essential.
Too often, we see promising efforts stall because of siloed ownership, short-term thinking, or an inability to prove ROI fast enough. But when senior leaders actively reward experimentation, empower cross-functional collaboration, and treat failure as a learning opportunity, innovation becomes part of the business fabric - not an experiment waiting to be cut.
Real innovation means taking real risks
Making innovation central means embracing a new risk calculus. Banks are rightly
cautious - it’s part of what makes them resilient. But in today’s environment, the bigger risk is standing still.
Fintechs iterate relentlessly because they know that speed is a competitive weapon. They test, fail, and pivot without the burden of legacy systems or bureaucratic inertia. Traditional banks, by contrast, often smother innovation under the weight of process and consensus.
This has to change. The banks that will thrive in the next decade will hire like tech companies, invest like venture capitalists, and learn like startups. They will build internal systems that reward curiosity and agility, not just compliance.
The path forward
Fintechs are capturing market share by solving real problems faster than banks can. But the game isn’t over. Incumbent banks still have scale, trust, and access
to capital. What they lack is speed - and that’s exactly what an embedded innovation strategy delivers.
The future of banking won’t be won by the biggest institutions, but by the most adaptive. The ones that use innovation not as a buzzword, but as a strategic engine for resilience and long-term growth.
It’s time to move innovation out of the lab and into the boardroom. Because in today’s market, the only thing riskier than innovating is failing to.
Felix Gonzalez, CEO and co-founder, FounderNest
KBC Asset Management: A Leader in Innovative and Sustainable Investing
KBC Asset Management NV (KBC AM) is the investment arm of KBC, a leading bank-insurance group with more than 41 000 employees and 13 million clients across Europe, including Belgium, the Czech Republic, Slovakia, Bulgaria and Hungary. Serving approximately 2.92 million retail and institutional investors, KBC AM specialises in the sale investment funds, advisory support and the development of innovative financial products.
Comprehensive and Tailored Investment Solutions
Offering a diverse range of services, KBC AM caters to retail investors, high-networth individuals and institutional clients. The company’s expertise in discretionary portfolio management and investment funds ensures a professional, client-centric approach is adopted where each solution is customised to individual financial needs.
KBC AM distinguishes itself from its peers through continuous innovation, striving to set industry standards rather than merely following them. By staying ahead of market trends, the company simplifies the transition from saving to investing, making it a seamless and reassuring process for its clients.
The firm’s digital-first approach is evident in the approximately two million active
investment plans, with 59% of all plans sold digitally. This focus on accessibility has led to an impressive 92% customer satisfaction rate, underscoring KBC AM’s commitment to service excellence.
Digital Innovation with a Personal Touch
KBC AM embraces digital transformation without compromising the human aspect. The company’s mobile-first strategy is exemplified by KBC Mobile, an advanced app featuring Kate, a virtual assistant that provides personalised investment insights. Kate’s AI-driven capabilities ensure that precise recommendations are provided, making the investment journey intuitive and efficient.
The company’s digital offerings include the ‘spare change investing’ feature, where daily transactions are rounded up to the nearest euro and the difference
automatically invested when it reaches a certain amount. This innovative approach allows clients to invest effortlessly, reinforcing the company’s goal of making investing a natural financial habit.
KBC AM’s expertise extends to AI-powered advisory services, where its smart advisory engine conducts daily portfolio screenings for private wealth clients. This system analyses risk and return factors, ensuring tailored, data-driven investment strategies.
Sustainability at the Core
Sustainability has become an undeniable global priority, driven by ethical concerns, financial imperatives, and environmental responsibilities. At KBC AM, sustainability is seamlessly integrated into its corporate strategy, recognising that financial resilience and sustainable development go hand in hand.
Responsible Investing (RI) allows clients to align their financial ambitions with environmental, social, and governance (ESG) principles. KBC AM employs a stringent RI methodology to offer investment solutions that contribute to:
• Reducing greenhouse gas intensity (CO2)
• Meeting the United Nations Sustainable Development Goals (SDGs)
• Enhancing corporate governance and social responsibility
The firm excludes companies involved in controversial sectors such as tobacco, gambling and weapons, reinforcing its commitment to ethical investing. As a major financial institution, KBC AM actively supports the transition to a low-carbon economy and a more sustainable society by collaborating with stakeholders across various sectors.
KBC AM has been a pioneer in sustainability since as far back as 1992, when it launched Belgium’s first Responsible Investing fund. Over the years, the firm has continuously
The Digital Euro: The key challenges for the currency in 2025
- Johannes Kolbeinsson, CEO and Co-founder of PAYSTRAX
“Payments are the backbone of our economy, and Europe cannot afford to be overly dependent on external providers”
These were the words of ECB President Christine Lagarde as she reaffirmed the EU’s commitment to a digital euro in Brussels a month ago. Her argument is simple: a digital euro would be an integral step to reducing the EU’s reliance on external providers and private sector crypto as well as strengthening its resilience against the oscillations of the market.
The Digital Euro is currently in the preparation phase, with the ECB keen to push forward into the next phase, procurement, by October 2025. But as with all
decisions made by the central bank, there are numerous concerns about the ability, transparency, and viability of a digital wallet tied to the ECB.
Challenges Ahead: Adoption and Opposition
Recent reports have indicated a strong resistance from the public, with 65% of people in a Bank of Spain study saying they would not use a digital euro. The primary concerns revolve around privacy, government oversight, and the perceived push towards the abolition of cash.
Germany, in particular, has expressed significant scepticism, with 60% of respondents in a survey fearing that the implementation of the digital euro is the first step toward the end of physical money. Widespread concerns regarding government monitoring of financial transactions, exacerbated by discussions surrounding China’s ‘digital yuan,’ have contributed to this resistance.
Furthermore, issues of accessibility and digital exclusion remain pressing. While the ECB has proposed detailed support systems through public institutions like post offices, critics argue that such a radical shift could leave behind those who still depend on cash, particularly the elderly and low-income individuals.
Another critical issue is the potential instability in the banking system. If consumers were to shift their savings into digital wallets instead of traditional bank deposits, it could increase the risk of rapid withdrawals in times of financial crises. The ECB has responded to this by proposing a €3,000 cap on digital euro wallets to mitigate the possibility of a bank run.
Have we come full circle?
While the digital euro aims to provide a secure and state-backed alternative to private-sector digital payments, there is a slight irony in the current approach.
A Digital Euro would mean the creation of an electronic wallet guaranteed by the central bank, which would also provide the necessary infrastructure. Distribution would be managed by financial institutions such as banks or wallet providers.
This means that, after decades of opposing similar systems, the ECB’s plan appears to be converging
with the existing interchange systems used by card networks. Though this would allow consumers to use the digital euro without direct charges, it reflects a move back towards the very frameworks that central banks once sought to challenge.
An ECB official stated that a digital euro would be more similar to its instant payment system, TIPS, which operates 24/7 and handles millions of small transactions daily, rather than to T2, which settles fewer but much larger transactions. The reliability of TIPS has been cited as a model for how the digital euro could function securely and efficiently.
A well-implemented digital euro could provide European consumers with a streamlined digital payment system that is both secure and reliable. However, the hurdles of digital exclusion, financial stability, and, most crucially, public trust continue to cast doubt on the success of the initiative.
A step forward in 2025?
With decades of innovation in the private sector leading digital financial solutions, it is difficult to see how a centralised, state-backed alternative will outperform existing options.
Nonetheless, the ECB’s push for a digital euro underscores the ambition and adaptability of the European fintech market. Should the plans materialise as envisioned, the digital euro would position the ECB at the forefront of G7 central banks - and perhaps, the world.
That said, expectations should remain measured. If the digital euro follows a path similar to Open Banking, it may face limited uptake. Imposed mandates and strict controls around cost structures and usage frameworks could lead to a diluted end-product - one that ticks regulatory boxes but lacks widespread utility.
In practice, the digital euro may replace cash for some everyday use cases, particularly for small purchases. Its main function might evolve into a form of digital petty cash - stored in wallets and used to top up existing debit or credit cards, rather than to fully replace them. In that sense, it could digitalise physical money, without fundamentally transforming the way people pay.
Why programmable money is the future of banking
By Gilbert Verdian, CEO & founder, Quant
We’re entering a new era in finance, one where money is no longer just “moved” but can be programmed to act. Programmable money is redefining value in the digital age. No longer confined to legacy push or pull payment infrastructure or siloed networks and blockchains, this new form of money is embedded with smart rules that can automatically execute actions, adapt to changing conditions, and comply with regulatory standards - all without human intervention. In essence, it's not just money that moves - it's intelligent, compliant, and frictionless financial logic that travels with it.
Much like how AI tools such as ChatGPT have brought automation and intelligence to everyday tasks, programmable money is giving banks the ability to automate, personalise, and transform how financial services are delivered. This makes it a practical stepping stone towards the broader digital transformation of banking.
Programmable money for real-world banking
Programmable money refers to the ability to embed rules, logic, and automated actions directly into currency, enabling smarter and more responsive financial services. It’s a game-changer for banks looking to defend their market share and innovate against fintechs and neobanks, giving them the ability to issue, manage, and deploy programmable digital money
with minimal technical lift. This means established institutions can now offer modern, intelligent financial productslike smart business accounts, automated cash flow solutions, or tokenised commercial payments, without overhauling their core infrastructure.
For customers, this translates into faster, more tailored services including seamless real-time payments, automated financial workflows, and greater transparency. Imagine individuals being able to set intelligent financial behaviours in advance, automatically splitting income into savings, bills, and spending when their pay check drops. Or small businesses triggering payments the moment a delivery is confirmed. Large corporates could automate reconciliation and reporting, removing manual bottlenecks and improving accuracy and treasury management.
How it works
At the core of programmable money systems are platforms that provide integration with existing banking infrastructure and emerging financial technologies, ranging from core banking systems and open banking APIs to distributed ledger technologies. Many of these platforms use open, domain-specific programming languages to define financial logic, allowing developers or institutions to build programmable workflows around money itself, rather than just wrapping services around it.
Crucially, these solutions can be rolled out gradually, tested in sandbox environments or applied to specific functions, without requiring full system replacement. This makes it easier for banks to explore use cases, get comfortable with regulation, and scale up based on measurable value.
Use cases that create real value
Programmable money opens the door to an entire ecosystem of advanced financial services, including:
Retail banking: Automating savings plans, bill payments, or payment alerts triggered by real-world data like income deposits or expense thresholds.
Commercial banking: Rules-based invoice settlements, automated tax withholding, or streamlined onboarding for new vendors and services.
Treasury operations: Dynamic liquidity management, automated compliance checks, and real-time reconciliation—all of which improve internal workflows and controls.
By enabling logic to live within the transaction itself, banks and fintechs can offer more personalised, intelligent, and responsive services without increasing complexity for the end user.
Why financial institutions should act now
Facing increasing pressure from fintech challengers, cost-conscious customers, and rising compliance demands, banks need to modernise without compromising stability or regulation. Programmable money gives them that opportunity. It helps shift institutions from reactive to proactive service models - improving agility, unlocking new revenue streams, and bringing operational savings.
New offerings like programmable business accounts, automated escrow, or intelligent treasury tools can boost competitiveness and customer retention, while transforming behind-the-scenes efficiency.
Compliant, secure, and ready for regulation
Any innovation in financial services must account for strict regulatory and security standards. That’s why programmable money solutions are being designed with full compliance in mind, from adhering to
ISO 20022 messaging standards to supporting data privacy laws across multiple jurisdictions.
Leading platforms also ensure that programmable logic operates within the bank’s own environment, giving institutions full control over data workflows. Security, traceability, and transparency are embedded from the start, making these systems enterprise-ready from both a technology and regulatory perspective.
A smarter financial future
Just as AI has reshaped how we think about information, programmable money is changing how we think about money. It allows money to be dynamic, predictable, and responsive meeting the needs of consumers and businesses in real time.
The shift is already underway. Banks and financial institutions ready to embrace programmable money don't need to wait for the distant future, they can start delivering the benefits of intelligent finance today.
AI and Automation:
The Next Frontier for Wealth Management
The wealth management industry stands at a crossroads. Historically built on personal relationships and manual portfolio construction, the sector now faces mounting pressure to deliver hyper-personalised, efficient services while navigating complex regulatory demands
and evolving client expectations. At the heart of this transformation lies artificial intelligence and automation technologies that are not just enhancing existing processes - they're fundamentally redefining how wealth is managed and advice is delivered.
Revolutionising Investment Strategies with AI
Traditional investment advice has long been a resource-intensive proposition, dependent on human expertise and time-consuming processes. Today's AIdriven algorithms are changing this equation dramatically by analysing vast datasets, identifying market patterns, and recommending asset allocations with unprecedented speed and precision.
Machine learning models now continuously learn from market dynamics, client behaviour, and economic indicators to optimise investment strategies in real-time. This enables wealth managers to offer
hyper-personalised portfolios that adapt dynamically to each client's goals, risk tolerance, and life circumstances, at a scale previously impossible to achieve.
While the first wave of robo-advisors offered automated investment products based on fixed parameters, today's AI-powered solutions are far more sophisticated. Modern portfolio strategies are becoming increasingly dynamic and context-aware, capable of adapting to macroeconomic shifts, incorporating ESG preferences, or responding to behavioural signals from clients.
The Human-AI Partnership: Finding the Right Balance
Despite these technological advances, clients, particularly in the high-net-worth segments, still deeply value human connection. Trust, empathy, and nuanced judgment remain powerful differentiators that AI alone cannot replicate.
The most promising future for wealth management lies not in replacing human advisors but in augmenting them with powerful AI capabilities. When AI handles data-intensive tasks like portfolio analysis, market research, and automated reporting, it frees advisors to focus on the strategic and relationship-driven aspects of client service where they add the most distinctive value.
This blended model - where technology manages data-driven functions and humans deliver relationship-driven insights - defines next-generation wealth services. It allows firms to scale their offerings without compromising quality, a critical advantage in today's competitive landscape.
The Evolving Landscape: Key Business Challenges in Wealth Management
The wealth management sector faces five critical challenges that are reshaping the industry and driving the need for AI-powered transformation:
• Fee Compression & Margin Pressure: Shrinking profitability from passive product competition and platform bundling is creating tighter spreads and distribution pressures. This requires cost-optimisation strategies including automation, AI, and shared services models.
• Data & Technology Integration: The explosion of new data sources (market data, ESG metrics, alternatives) combined with fragmented legacy systems inhibits decision-making and regulatory reporting. Modern data architecture, governance, and AI/ML for data enrichment are essential.
• Regulatory & Compliance Pressure: Global regulatory rules require businesses to shift their operating models across people, process, and technology. Compliance needs traceable, auditable, real-time systems with comprehensive tagging capabilities.
• Legacy Technology Landscape: Outdated systems slow time-to-market and increase vendor risk. Modernisation through modular, API-first, SaaS or cloud platforms is no longer optional but essential.
• Operating Model Inefficiencies: Operational inefficiencies drive high cost-to-serve, constrain innovation, and lead to client dissatisfaction. The push for automation, straight-through processing, and cloud-native platforms is accelerating.
From Strategy to Implementation: Making AI Work in Wealth Management
Wealth management is at a transformative moment. Beyond theoretical discussions, firms need practical solutions that tackle these real industry challenges and deliver tangible results. The execution teams making the most progress aren't just conceptualising AI – they're implementing it to create genuine competitive advantages.
Anyone working in wealth management knows legacy technology is the elephant in the room. While everyone talks about innovation, those outdated systems aren't going anywhere overnight. That's where blending human expertise with AI creates magic. Our teams find this partnership approach works wonders - AI agents handle the heavy lifting of transforming code, while experienced professionals guide and refine the results. The process flows naturally through understanding what exists today, envisioning a better design, and then building modern systems that work. Most importantly, this approach delivers modernisation at a pace that business timelines demand, without compromising on the quality or compliance that wealth management requires.
The margin pressure in wealth management isn't theoretical – it's showing up in quarterly results. Teams implementing AI-powered delivery systems are seeing substantial reductions in development time and service costs. The data fragmentation problem that has frustrated wealth managers for years? Intelligent connectors are finally minimising those manual interventions that slow down client onboarding and frustrate advisors. Compliance teams are embracing real-time dashboards that make regulatory oversight manageable without overwhelming resources. And those persistent barriers between front and back office? We're watching them dissolve as modernisation creates transparency across traditionally siloed areas. Meanwhile, product teams are leveraging specialised AI agents to bring new offerings to market faster and enhance research capabilities that directly impact client outcomes.
Richard Doherty, Asset & Wealth Management Transformation Leader at Publicis Sapient
Manas Saha, Executive Client Partner at Publicis Sapient
What makes these transformations possible is a thoughtfully designed blueprint for implementing AI at enterprise scale. Rather than reinventing the wheel, execution teams leverage foundations built specifically for wealth management's unique environment – from prompt libraries containing industry expertise to components that understand financial context to ready-to-deploy agents designed for specific wealth management functions. This approach ensures that AI implementations aren't just technically impressive but also secure, compliant, and perfectly aligned with the complex workflows wealth managers navigate daily.
Perhaps most exciting is watching how these AI systems evolve. Instead of static tools, multi-agent architectures create an ecosystem that continuously improves through a cycle of understanding, reasoning, and action. When advisors or operations teams interact with these systems, sophisticated reasoning processes determine exactly what information is needed and how to get it. By combining intelligent task management, adaptive learning, optimisation capabilities, and secure data access, these systems become more valuable with every interaction. This isn't theoretical AI – it's practical augmented intelligence that understands what wealth management professionals need to succeed.
A Defining Opportunity
AI and automation represent more than operational tools - they are strategic levers that will distinguish industry leaders from laggards in wealth management's next chapter. The time to act is now, with quantifiable benefits already emerging across the industry.
In the regulatory and compliance space, AI agents are transforming monitoring capabilities, reducing manual horizon scanning workloads by up to 70%. These tools are shortening compliance assessments from weeks or months to just days, while making regulatory mandate implementation dramatically more efficient; this allows the compliance team to focus on the bigger picture and ensure risk levels are managed with greater levels of certainty.
We are all aware of the elongated process of taking a new product to market, from aligning with the risk & compliance teams to building the tech - sometimes it’s painful, to say the least. But, as we move forward
GenAI is being inserted into this process to speed up the connection between teams and fast track the software delivery process cutting time-to-market by up to 30%, allowing wealth managers to focus on driving new revenue and growth.
These opportunities represent the tip of the iceberg, and we are now moving from theory to practical use cases that are driving business value. The firms leading this transformation are those who invest thoughtfully in modern architecture, implement AI thoughtfully and strategically, and effectively balance human and technological strengths. They position themselves to thrive in a landscape increasingly defined by personalisation, efficiency, and trust.
The future of wealth management isn't about replacing advisors - it's about empowering them with sophisticated tools to serve clients better, faster, and more intelligently than ever before. With the right approach to AI transformation, wealth managers can move beyond proof-of-concepts to create a sustainable competitive advantage at enterprise scale. The question is no longer whether to embrace AI, but how quickly and effectively firms can implement it to remain relevant in an increasingly technology-driven industry.
The Death of the Retail Branch?
How Video Analytics Can Shape the Future of Banking
The banking industry is at a crossroads, with the rapid adoption of online and mobile banking transforming how customers interact with financial institutions. 2 in 5 Brits (40%) have a digital-only bank account in 2025, up from 36% in 2024 and a quarter (24%) in 2023
This shift has raised questions about the relevance of physical branches. Are they destined to disappear, or can they evolve to complement digital platforms? The answer lies in leveraging advanced technologies like computer vision to redefine the role of retail branches, improve security, and enhance customer experiences.
Computer Vision, powered by artificial intelligence (AI), is revolutionising how banks operate. By analysing real-time video footage, financial institutions can gain actionable insights into customer behaviour, optimise branch layouts, and enhance security measures.
Understanding customer demographics and behaviour
Video analytics enables banks to analyse customer demographics – such as age, gender, and behaviour – within branches. This data helps identify which customer segments still rely on in-branch services and why.
Older customers, for example, may prefer face-to-face advisory services, whilst younger demographics might visit branches for specific tasks like account setup or cash deposits. By understanding these patterns, banks can tailor their offerings to meet customer needs more effectively.
Optimising branch layouts and operational efficiency
Heatmaps generated by video analytics highlight high-traffic areas within branches, such as ATMs or advisory desks. This data allows banks to optimise layouts for efficiency, prioritise high-demand services and eliminate underutilised features. For example, if self-service kiosks see significant use, banks can expand their availability while reducing less-used counters.
Video analytics also provides insights into foot traffic patterns and peak times, enabling better staffing decisions. By aligning resources with demand, banks can improve customer satisfaction while reducing operational costs.
Strengthening security with video analytics
While enhancing customer experience is critical, security remains a cornerstone of banking operations. The rise of digital platforms has introduced new vulnerabilities, but video analytics offers robust solutions to mitigate risks in both physical and digital spaces.
Traditional surveillance systems often react after an incident occurs, but AIpowered video analytics proactively detects anomalies in real-time. Computer vision can monitor restricted areas for unauthorised access or suspicious behaviour, identify loitering near ATMs or attempts to tamper with machines, triggering immediate alerts for security teams.
This proactive approach reduces response times and prevents incidents such as theft or vandalism before they escalate.
Fraud remains a significant concern in the banking sector. Video analytics can
augment the detection of suspicious activities indicative of fraud, such as Irregular transaction patterns or prolonged ATM usage. By identifying these behaviours early and with integration into other systems, banks can capture the face of the potential fraudster and intervene the next time they interact with any other ATM or even enter a retail branch.
Advanced facial recognition systems ensure secure access to sensitive areas within branches or data centres while maintaining customer privacy. These systems authenticate authorised personnel, identify individuals of interest in real-time and enhance compliance with regulatory standards by maintaining detailed access logs. Face blurring and anonymisation techniques to protect customer identities in non-security contexts, ensuring privacy while retaining analytical insights.
Balancing security and customer experience
Security measures often come at the expense of convenience, but video analytics bridges this gap by simultaneously improving safety and customer experience. Long wait times are a common pain point for customers visiting branches, but Computer Vision solutions can monitor foot traffic and queue lengths in real-time, enabling staff to address bottlenecks proactively.
By analysing customer behaviour within branches, banks can deliver tailored experiences – frequent visitors might receive personalised offers based on their preferences, whilst first-time customers could be guided through onboarding processes more effectively.
The case for hybrid banking models
Despite the rise of digital banking expected to reach 3.6 billion users globally by 2024 physical branches still hold value for complex transactions like mortgage applications or wealth management consultations. However, their role must evolve to remain relevant.
Video analytics provides the insights needed to make strategic decisions about branch networks, determining which locations should remain open, what services should be prioritised and how resources can be allocated more effectively. For instance, if a branch primarily serves older customers seeking advisory services, it might focus on maintaining a personal touch while integrating digital tools for younger demographics.
Some banks are adopting hybrid models that combine physical and digital elements; self-service kiosks equipped with video conferencing enable remote consultations, whilst smaller "micro-branches" focus on high-demand services while reducing operational costs. Video analytics guides these innovations by providing data on customer preferences and usage patterns.
A future built on insights
The death of retail bank branches may be exaggerated, but their reinvention is imperative. As customers increasingly embrace online banking for convenience, physical locations must adapt to serve specific purposes effectively. Video analytics offers a roadmap for this transformation by delivering actionable insights into customer behaviour and branch utilisation while enhancing security measures.
By leveraging technologies like real-time threat detection, fraud prevention tools, and demographic analysis systems, financial institutions can strike the right balance between digital convenience and in-person service excellence. The result? A banking ecosystem that is not only safer but also more efficient and customer-centric, ensuring relevance in an ever-evolving financial landscape.
Account Manager UK and Europe at Ipsotek,
Stephen Papaloizou,
an Eviden company
AWARDS WINNERS LIST 2025
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Alveo Land
Amana
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Winners Titles
Beltone Asset Management
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Best Insurance CEO of the Year Egypt 2025 -Mr. Alaa El-Zoheiry
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Most Innovative Banking Product UAE 2025 – 1 Click MashreqVerse
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The silent risk for finance firms in digital resilience: What if your vendor fails?
Andy Ramsbottom, Sales Director-Financial Services, Escode
People talk a lot about cyber threats in finance, and for good reason. But there’s another risk lurking behind the scenes that doesn’t get nearly as much attention as it should: what happens when a critical software vendor unexpectedly fails?
Today’s financial institutions depend on a complex network of digital tools and third-party platforms. From core banking systems and payment platforms to trading engines, compliance software and customer interfaces, technology powers pretty much every part of the industry. While some major players might think they have strong fail-safes, the truth is that there is always risk up and down the software supply chain. Many firms also rely on smaller, specialist vendors – the kinds of companies that bring innovation,
speed, and niche capability. For all the benefits this can offer, there is also inherent risk and, in my experience, there is still a lot of work to do to ensure every facet of business continuity has been considered.
Disruption doesn’t always start with an attack
Vendor failure doesn’t always look like a headline-making hack. It can be incredibly subtle. Consider a silent vendor collapse that begins with a missed software update, a founder exit, or a quietly abandoned roadmap. Suddenly, a system your operations rely on goes offline, becomes unsupported and unrecoverable. We’ve seen it happen far too many times.
As and when that happens, in addition to technical headaches, if the software supports regulated processes or customer-facing operations, firms face serious exposure and risk – whether it be compliance breaches or reputational harm to operational downtime that’s just impossible to explain to regulators or clients.
A chain reaction
What makes vendor failure particularly difficult to plan for is that it often isn’t caused by a single issue. It’s the result of multiple risks accumulating in the background.
Consider the following:
• Financial instability, especially with early-stage or venture-backed vendors
• An overreliance on key personnel and single points of failure, where a single resignation can halt development
• Compliance gaps in vendors operating below the regulatory radar
• End-of-life product decisions, where support disappears with little or no warning
• Legal or IP disputes, which can suddenly cut off access to software packages entirely
And when these risks come together, the consequences go far beyond a single vendor. We’re increasingly seeing that supplier fragility in financial services can lead to operational downtime, impacting multiple institutions that rely on the same platforms. Financial shocks, which we’ve seen with increasing frequency in recent years, often trigger the kind of butterfly-effect failures that regulations weren’t designed to contain. And in today’s hyper-connected, digitally enabled financial system, reputational
damage spreads faster than ever. Customers no longer queue to withdraw their money – they can move it with the push of a button.
Building in resilience, not just buying it later
This is where we’re seeing forward-looking CIOs and procurement leaders starting to take a more proactive stance. Software escrow isn’t new, but its relevance has changed. Rather than being just a risk mitigation tool, it’s a strategic business continuity asset.
At its core, software escrow ensures that the source code, documentation, and build processes for essential software are securely held by a neutral third party. Depending on the level of escrow agreed, that material can also be independently tested, rebuilt, and stored in a verified environment, meaning the business can recover and run the software even if the vendor can no longer support it. If a vendor can’t deliver or support the product anymore, the organisation has the right, and the means, to maintain or transfer that software.
For financial services firms bound by regulatory frameworks like the Digital Operational Resilience Act (DORA), these kinds of measures are both best practice – and becoming a regulatory requirement.
Procurement Is the new front line of resilience
More and more, we’re seeing business resilience shift away from crisis response and into procurement and contract design. Leading financial institutions are now embedding continuity mechanisms like escrow directly into their vendor onboarding processes. Instead of waiting for issues to arise, they’re planning for the worst-case scenario: what happens if and when they (inevitably) do.
In doing so, they’re protecting far more than just software access. They’re safeguarding reputation, regulatory compliance, client confidence and more. As any business leader knows, these are lost far faster than they’re earned.
Be ready for the full spectrum of supplier risk
Try as you may, there’s no way to predict which vendor might go quiet, pull the plug on a product, or disappear entirely. But that doesn’t mean firms have to leave themselves exposed.
Digital resilience goes beyond technical defences. It’s about being ready for the full spectrum of supplier risk, including the quiet, under-the-radar kind of risk that can bring operations to a complete standstill.
Leadership Through Economic Turbulence: Why Optimism is Your Strategic Edge
- Matthew Mathison
The headlines don't lie. Tariffs are rising, markets are swinging wildly, and I'm seeing a familiar anxiety creep into boardrooms across the country. I've been through these cycles before, and here's what I know: this moment isn't testing us because anyone has perfect answers. It's testing us because how we lead through this uncertainty will echo through our organizations for years.
The Leadership Gap in Economic Downturns
When markets tremble, conventional wisdom often dictates battening down the hatches—cutting costs, reducing risk, and essentially going into survival mode. While prudent financial management is certainly necessary, this defensive posture creates a leadership vacuum precisely when guidance is most needed.
After guiding companies through multiple economic cycles over 25 years, I've observed that during downturns, many leaders inadvertently amplify uncertainty by:
● Withdrawing from transparent communication
● Focusing exclusively on short-term metrics
● Abandoning strategic initiatives that could position them for the recovery
● Projecting their own anxiety onto their teams
This approach isn't just psychologically damaging—it's strategically flawed.
Optimism as Strategic Advantage
Let me be clear: optimism in leadership isn't about ignoring reality or maintaining a false positive front. It's about maintaining the capacity to see opportunities amid disruption and the courage to pursue them when others retreat.
True optimism is grounded in historical perspective. Every economic contraction in history has eventually given way to expansion. Every market correction has been followed by new highs. This isn't wishful thinking—it's empirical reality.
Leaders who maintain strategic optimism during economic turbulence gain several competitive advantages:
1. Talent retention and acquisition: When competitors are shedding talent, optimistic leaders who communicate a compelling vision for the future can retain their best people and attract disillusioned high-performers from other organizations.
2. Counter-cyclical opportunities: While pessimists pull back, optimists identify strategic investments, acquisitions, and market expansions at favorable valuations.
3. Innovation acceleration: Economic pressure can catalyze creative problem-solving. Optimistic leaders channel this energy toward innovation rather than mere cost-cutting.
4. Customer loyalty: Customers remember which companies continued to deliver value and maintain relationships during difficult times.
Building the Missing Leadership Muscle
The ability to maintain strategic optimism is a leadership muscle that must be intentionally developed. Here's how to strengthen it:
Embrace personal responsibility: External circumstances—tariffs, market volatility, consumer sentiment—are largely beyond your control. Your response to these factors is entirely within your control. This mindset shift from external victimhood to internal agency is the foundation of resilient leadership.
Separate facts from narratives: Train yourself to distinguish between objective market conditions and the stories we tell about them. The facts may be challenging, but catastrophic interpretations are optional.
Cultivate historical perspective: Study previous economic cycles to recognize patterns and maintain confidence in eventual recovery. Understanding that downturns are normal, temporary features of economic systems provides invaluable context.
Practice strategic patience: Short-term metrics will fluctuate, sometimes dramatically. Leaders who can maintain focus on longer time horizons make better decisions and inspire greater confidence.
The Power of "Yet"
Perhaps the most powerful tool in the optimistic leader's arsenal is the simple word "yet." When we say "we haven't solved this problem yet" or "we haven't found the right approach yet," we affirm that solutions exist and that we possess the capability to discover them.
This subtle linguistic shift transforms challenges from terminal obstacles into temporary puzzles awaiting solutions. It maintains momentum when progress seems stalled and keeps teams engaged in productive problem-solving rather than anxious rumination.
The Choice Before Us
As leaders navigating this period of economic uncertainty, we face a fundamental choice not about circumstances, but about stance. We can approach turbulence with fear and contraction, or with grounded optimism and strategic clarity.
The leaders who emerge strongest from this period of uncertainty won't be those who predicted market movements with perfect accuracy. They'll be those who maintained their strategic vision, continued investing in their people and opportunities, and approached challenges with the confidence that solutions could be found.
In uncertain times, hope isn't a luxury—it's a strategic necessity. And authentic optimism isn't naïveté—it's perhaps the most practical leadership tool we possess.
Matthew Mathison is an entrepreneur, investor, and author of Leadership Orbit. With over 25 years of experience guiding companies through economic turbulence, he specializes in helping leaders navigate uncertainty with grounded optimism and strategic clarity.
Generative AI (GenAI) in Banking and Finance
Generative AI is revolutionizing financial services by enhancing efficiency and driving innovation. As banks accelerate their adoption of Gen AI, establishing the right operating model is key to unlocking its full potential. Financial institutions are leveraging this technology to enhance customer-facing chatbots, prevent fraud, and streamline complex tasks such as code development, pitch book drafting, and regulatory report summarization.
How AI Works in Financial Institutions
• Automation and Efficiency: AI automates tasks, enhances customer service, detects fraud, provides personalized financial advice, and improves overall efficiency and security in financial institutions.
• Advanced AI Models: Large language models (LLMs) and machine learning (ML) algorithms generate new content, insights, and solutions tailored for the financial sector. These AI systems can automatically generate financial reports and analyze vast amounts of data to detect fraudulent activity.
• Document Processing: AI automates routine tasks such as document processing and information verification, significantly reducing manual effort and improving accuracy.
• Natural Language Processing (NLP): Generative AI can produce human-like responses by simulating natural language. Banks, such as Morgan Stanley, leverage AI-powered chatbots to handle customer service interactions, offering account information and personalized financial advice.
• Regulatory Compliance and Risk Management: AI streamlines regulatory reporting, credit approvals, and loan underwriting. It can process and summarize large volumes of financial data, generating draft reports and credit memos with minimal human intervention.
Pooja Lekhi, PhD, Chair, Department of Quantitative Studies, University Canada West
- Pooja Lekhi
• Investment Banking Applications: In investment banking, AI compiles and analyzes financial data to create detailed pitchbooks in a fraction of the time, accelerating deal-making and providing a competitive advantage.
• Operational Efficiency: Banks are increasingly adopting generative AI to enhance customer service, optimize workflows, and improve overall operational efficiency.
Economic Impact of Gen, AI
• The McKinsey Global Institute (MGI) estimates that generative AI could add between $200 billion and $340 billion in annual value to the global banking sector. This represents 2.8% to 4.7% of total industry revenues, primarily driven by increased productivity. (MCKINSEY.com)
• Operating Models: Banks and financial institutions can adopt different Gen AI operating models, ranging from highly centralized structures, where AI deployment is managed centrally, to highly decentralized approaches, where individual departments or teams integrate AI solutions independently.
• Investment Growth: In 2023, the financial services industry invested approximately $35 billion in AI, with the banking sector accounting for about $21 billion of this expenditure. (Statista. com)
• Future Spending Projections: Spending on generative AI in the banking sector is projected to reach $84.99 billion by 2030, reflecting a compound annual growth rate of 55.55%. (Statista. com)
• Job Market Implications: The integration of AI technologies may lead to significant workforce changes, with projections indicating up to 200,000 job cuts in the banking industry due to automation and increased efficiency (Unite.AI)
Potential Benefits:
Generative AI is transforming the banking industry by streamlining operations, enhancing customer experiences, and improving risk management. One of its key advantages is accelerated loan processing, where AI quickly assesses creditworthiness and automates loan underwriting, significantly reducing approval times. Additionally, AI-driven debt collection systems interact
with borrowers, offering personalized repayment options while identifying delinquency patterns to improve recovery rates. By automating routine tasks such as document processing, data entry, and compliance checks, AI minimizes manual workload, reduces errors, and lowers operational costs, leading to greater efficiency in financial institutions.
AI-powered chatbots and virtual assistants provide 24/7 customer support, handling a wide range of inquiries instantly, resulting in faster response times and improved customer satisfaction. In regulatory compliance, AI simplifies the preparation and summarization of reports, ensuring adherence to industry regulations while reducing the time and effort required for compliance tasks. Moreover, AI facilitates innovative product development by analyzing market trends and customer needs, helping banks create new financial products and services. It also enables personalized financial services, offering tailored advice and product recommendations based on customer data, enhancing engagement and loyalty. Lastly, proactive fraud detection is another major benefit, as AI analyzes vast transaction datasets to identify suspicious patterns, enhancing security and minimizing financial losses.
Potential Challenges of Generative AI in Banking
Implementing generative AI in banking presents challenges, particularly in data privacy, security, and compliance. Continuous monitoring is vital to prevent breaches and protect sensitive information. Data quality and reliability are also critical, as inaccurate datasets can lead to flawed decisions and erode customer trust. Additionally, system integration remains a hurdle, as legacy infrastructure may not support modern AI frameworks, making adoption costly and complex. Addressing these challenges is key to unlocking AI’s full potential in financial services.
Conclusion
Generative AI is transforming banking by enhancing efficiency and automation, but human oversight remains crucial for critical decisions like loan approvals. AI should support data analysis while professionals ensure ethical and accurate decision-making. Addressing challenges like data privacy and system integration will be key to responsible AI adoption, allowing banks to maximize benefits while maintaining trust and compliance.
Revolutionising banking: Mashreq’s digital innovations
In an era where digital transformation is driving the evolution of banking, Mashreq – one of the leading financial institutions in the Middle East and North Africa (MENA) region – is redefining the customer experience with innovative digital solutions.
At the forefront of this banking evolution is Mashreq NEO, Mashreq’s fully digital banking offering, which delivers seamless, paperless and hyper-personalised services to a new generation of digitally savvy customers via Mashreq Mobile App — the banking app rated top by users in the UAE (with 4.8 being the top rating for banking apps on the app stores across the UAE between August 2023 and August 2024).
The rise of digital-first banking
The global shift towards digital-first strategies in banking is fueled by a demand for convenience, speed, and bespoke customer experiences. Traditional banking models that rely on physical branches are being replaced by platforms that allow customers to manage their finances from their devices, anytime and anywhere. Recognising this trend in its infancy, Mashreq launched NEO to respond to evolving consumer expectations.
NEO represents the future of digital banking, offering a seamless and entirely digital account opening process. With instant access to credit, investments, and a wide range of financial services, all through an intuitive and user-friendly mobile app with no need for physical branches, NEO allows customers to complete transactions including bill payments, fund transfers, and international remittances, all through a few taps on their smartphones.
Mashreq has also transformed credit card onboarding into a 100% digital, frictionless process. By leveraging Emirates Facial Recognition (EFR) technology for instant KYC and liveliness checks, the bank eliminates delays in processing card applications while ensuring authenticity. With 75% straight-through processing powered by advanced analytics and digitalized verification methods, most applications are approved in real time. This innovation streamlines credit assessments and enables faster service delivery, reflecting Mashreq’s commitment to customer convenience and technological excellence.
Leveraging AI and machine learning
Mashreq’s digital innovation is not limited to its mobile platform. By integrating artificial intelligence (AI) and machine learning into its services, the bank has significantly enhanced its customer engagement. For instance, the platform’s AI-driven chatbot, accessible via Mashreq Mobile App, ensures 24/7 banking services. It answers queries and processes requests, and provides insights into spending patterns, delivering a seamless experience that mimics human interaction.
AI is also integrated into risk assessment for lending, with automated credit scoring enabling faster and more accurate loan approval processes. This provides customers with instant access to personal loans and credit lines, further reducing any friction involved in traditional banking procedures.
In 2019, Mashreq led the digital transformation of SME banking in the UAE with the launch of NEO BIZ, region’s first truly digital onboarding journey and branchless offering. Since then, we have seen exponential customer growth, and our portfolio of satisfied customers has multiplied many times over.
NEO BIZ offers seamless, convenient, secure and cost-effective banking services, with a digital onboarding experience that offers a less than 20-minute digital account opening application, online portal-based queries and tablet fulfilment.
Under the hood, NEO BIZ is the most technologically advanced SME onboarding journey in the region. Our process seamlessly weaves advanced technology through an easy-to-use digital customer experience to support our customers in opening a business bank account.
Over the years we have integrated innovative technologies such as robotic process automation, automated workflows, blockchain, AI, data analytics, and machine learning. Similarly, our cutting-edge electronic facial recognition technology allows us to digitally verify customers without having to send documentation, and provides the ability to have an account opened within three days with fully digital fulfilment.
Wealth management at your fingertips
A standout feature of Mashreq NEO is its digital wealth management services, opening wealth management to all customers with varying risk appetites and financial goals. Customers can access a range of investment opportunities,
including equities, ETFs, and gold, all via an intuitive user interface on the app. These features, coupled with real-time market insights and supported by robust analytical tools, enable users to make informed investment decisions independently, and without the need for complex, time-consuming paperwork.
Seamless integration with daily life
Mashreq’s innovations are designed with the key aim of enabling innovative solutions for all customers and integrating banking seamlessly into everyday life, reinforcing its position as the region’s most progressive challenger bank.
One such innovative solution is our digital wallet that allows users to make contactless payments, manage loyalty rewards and track their spending, all through the same platform. This unification of financial services under one umbrella simplifies the banking experience for customers, reducing the need to switch between multiple apps or service providers.
Mashreq Vantage offers customers a fully digital and instant rewards experience, with access to a wide range of redemption options such as Air Miles, e-commerce gift cards, direct cashback to account and more. The points' value is made available to clients in real time for various redemption options, allowing them to make informed decisions. This customer-centric approach reinforces Mashreq's commitment to innovation, transparency, and delivering exceptional value to its customers.
Additionally, the platform’s integration with the UAE government services, such as payment of traffic fines or utility bills, further highlights Mashreq’s commitment to becoming a facilitator of solutions for all financial needs.
Security and compliance
In this digital-first banking environment, security is paramount. Mashreq spares no effort to ensure that all transactions
carried out via Mashreq NEO are safe and secure. Biometric authentication, end-toend encryption, and two-factor authentication are just some of the multi-layer security features embedded into the app. Furthermore, Mashreq ensures complete compliance with local and international financial regulations, providing users with peace of mind when managing their finances digitally.
Sustainability through digital transformation
Mashreq’s digital initiatives also align with global sustainability goals. Paperless banking, reduced energy consumption, and fewer in-person interactions not only improve operational efficiency, but also contribute to environmental conservation efforts by minimising the bank’s carbon footprint.
In November 2023, Mashreq, in collaboration with Visa and ecolytiq, launched the first personalised carbon footprint calculator in MENA on its mobile app. This innovative feature helps customers track and reduce their carbon emissions by providing tailored insights and actionable tips. By analyzing transaction data from the past six months, the platform calculates each customer’s personal carbon footprint and breaks it down by categories like shopping, travel and entertainment. It identifies key emission drivers and offers practical advice for reducing their footprint. This data-driven approach fosters sustainable behaviors, enhances engagement, and reinforces Mashreq's commitment to a greener future.
The future of Mashreq’s digital journey
As the banking landscape continues to evolve, Mashreq is well-positioned to remain a leader in digital innovation. With plans to introduce ever more advanced AI-driven services and expand wealth management offerings, Mashreq NEO is not just a product for the present, but a visionary platform for the future of banking.
Mashreq’s focus on customer-centric digital solutions, combined with its relentless drive for innovation, has set a new benchmark for the banking industry in the UAE and beyond. Through platforms such as Mashreq NEO, the bank is proving that the future of banking lies in digital transformation — a future built on the pillars of convenience, personalisation and security.
This commitment to innovation is consistently recognised, with Mashreq’s app being the top-rated mobile banking app in the UAE. The bank has also been awarded the Best Digital Bank in the Middle East at the Euromoney Awards of Excellence for five consecutive years.
These accolades underscore Mashreq’s unwavering dedication to pioneering customer-first digital solutions, and solidify its position as a trailblazer in the industry.
As more customers transition to digital-first banking experiences, Mashreq is at the cutting edge, revolutionizing the way we bank in the 21st century.
To know more about Mashreq, visit https://www.mashreq.com.
Phishing is Driving Account Takeover
Oliver Paterson, Director of Product Management, VIPRE Security Group
Financial enterprises face a stark reality: account takeover attacks represent one of the most devastating threats to organisational integrity. These incidents don't merely compromise individual users – they create pathways for attackers to infiltrate entire corporate networks, accessing sensitive data, financial systems, and critical business operations.
The deceptive nature of account takeovers lies in their seemingly innocuous beginnings. Rather than launching sophisticated technical assaults, cybercriminals often start with something as simple as a well-crafted phishing email. This approach exploits a fundamental gap in modern cybersecurity defenses, where organisations have invested heavily in blocking malware while leaving social engineering vulnerabilities exposed.
Today's advanced email security solutions excel at identifying and neutralising sophisticated malware threats. These systems have evolved to recognise complex code-based attacks, quarantine suspicious attachments, and block known malicious domains. However, cybercriminals have adapted their strategies accordingly, shifting focus toward social engineering
tactics that bypass traditional technical defenses.
The challenge intensifies as attackers increasingly combine multiple approaches. They layer social engineering techniques with subtle malware deployment, creating hybrid attacks that can slip through even robust security infrastructures. This evolution demands a corresponding shift in how organisations approach email security.
Anatomy of an account takeover
Account takeover attacks typically unfold in more or less predictable stages, beginning with credential harvesting and escalating to full system compromise. The process starts when attackers deceive victims into revealing login credentials through carefully constructed phishing campaigns. Once armed with legitimate credentials, attackers gain “authorised” access to accounts such as email, social media, banking, or workplace accounts.
With full control of accounts, they may change the password to lock out the real owner, access sensitive personal or company data, steal money, commit fraud, or impersonate the victim for social engineering scams, making their activities nearly indistinguishable from normal user behaviour.
Here’s an example of what an account takeover might look like. An accounts payable employee receives an urgent email appearing to originate from their CFO. The message requests an immediate $85,000 wire transfer to a vendor, complete with updated payment details in an attached
PDF. The email address closely mimics the CFO's legitimate address, and the invoice appears authentic down to company branding and formatting.
The employee clicks a link within the PDF, gets redirected to a convincing imitation of their company's login portal. As soon as the employee enters their credentials in this fake web page, the attacker has gained access to both the employee's account and the organisation’s broader network resources. The compromise extends beyond the initial target, enabling the creation of fraudulent invoices, payment redirection, and additional phishing campaigns potentially targeting other departments.
The growing scale of the problem
Statistical evidence reveals the escalating nature of account takeover threats. Recent research indicates that nearly one-third of individuals – approximately 77 million adults – have experienced account takeover, representing a significant increase from previous years. The organisational impact proves to be even more severe, with 58% of companies reporting account takeover incidents in 2023.
The connection between phishing and account takeovers becomes clear when examining attack origins: 79% of organisational account takeovers trace back to credentials obtained through phishing campaigns. Industry analysis by Sift demonstrates the accelerating trend, showing a staggering 354% year-over-year increase in account takeover attempts over the past three years.
More specifically in the European finance and insurance sector, in 2023, this industry has seen a 73% increase in account takeover attacks.
Recognising the warning signs
Organisations must train employees to identify potential account takeover indicators before a compromise occurs. Key warning signs include unexpected login alerts from unfamiliar locations or devices, password changes initiated without user knowledge, and reports from colleagues about receiving suspicious communications from compromised accounts.
Additional red flags include unusual account activity such as missing funds, altered account settings, or newly connected devices. Early detection of these indicators can prevent minor breaches from escalating into major organisational compromises.
The solution: Integrated cloud email security
However, at a broader level, addressing account takeover threats requires solutions specifically designed to detect sophisticated social engineering attacks. An integrated cloud email security (ICES) approach – also referred to as API-driven email security and cloud API email security – fills this critical gap by identifying low-technology, AI-generated phishing emails that traditional email security tools miss.
These solutions also complement existing security email gateways (SEGs). While SEGs excel at blocking sophisticated malware, ICES focuses on detecting seemingly innocent communications that mask phishing attempts. Together, they create comprehensive, AI-driven security architectures capable of identifying emerging threats before they compromise organisational assets.
This kind of integrated approach is essential because advanced cyber threats demand multi-layered defense strategies. Organisations cannot rely solely on traditional malware detection when attackers increasingly focus on exploiting human psychology rather than just technical vulnerabilities. ICES solutions bridge this gap, providing the social engineering detection capabilities that complete a robust email security posture, utilising AI and machine learning technologies to interrogate emails’ metadata, syntax, and sign-offs to spot fraud attempts.
Phishing-driven account takeovers are silent threats lurking in every email inbox. With the financial sector a top target for cybercriminals – for obvious reasons –organisations must continuously revisit their email security strategies as low-tech, high-impact, human-centric attacks are proving to be low-hanging fruit tactics for the bad actors.
The social credit score:
how financial brands can win over Gen Z
The financial landscape is undergoing a seismic shift. Traditional status symbols, such as platinum cards, brickand-mortar prestige, hold little sway over Gen Z. Instead, this generation prioritises financial flexibility, immersive experiences, and emotional connection. They don’t just seek a bank, they expect a brand that integrates into their lives.
And they’re making these choices in public. Social media is their financial advisor, with platforms like TikTok and Instagram shaping perceptions of financial brands. In fact 25% of 18-24 year old banking customers use social media for financial guidance and one in five of this age group have invested money based on social media recommendations.
Gen Z gravitates towards companies that reflect their values, embed into their lifestyle, and deliver seamless, engaging interactions. For financial institutions, the shift from transactional relationships to
Some brands are already adapting. American Express is repositioning itself as a lifestyle brand through Olivia Rodrigo concerts and premium festival activations, while Mastercard’s Formula 1 sponsorship capitalises on adrenaline-fuelled brand association. But sponsorships alone won’t cut it. To truly resonate, financial brands must translate these activations into compelling, shareable content that builds true loyalty
Influence over interest rates
Institutional credibility is no longer a given. Social proof, authenticity, and peer recommendations hold more weight than corporate messaging. This is where influencer marketing becomes a non-negotiable pillar of financial brand strategy.
Klarna is a prime example. The buynow-pay-later leader has seamlessly
embedded itself into cultural conversations, leveraging influencers like Bretman Rock and Saweetie to transform financial services into aspirational, lifestyle-driven moments. Klarna doesn’t just sell a payment solution, it sells a way of living, positioning itself at the intersection of fashion, music, and digital commerce.
The lesson is that influencer partnerships should be more than transactional endorsements. Financial brands need to work with creators who embody their ethos and deliver content that feels native to social platforms. Overly polished, scripted campaigns won’t land, authenticity is the currency Gen Z trades in.
Beyond the transaction
Financial services can often feel impersonal and abstract, far removed from the everyday realities of younger consumers. The brands that succeed make their offering tangible, experiential, and shareable.
Revolut has mastered this approach. By positioning itself as more than just a banking app, Revolut taps into lifestyle aspirations, offering premium memberships with travel perks, airport lounge access, and cashback on cultural experiences. Crucially, it amplifies these benefits through dynamic social content that seamlessly integrates into Gen Z’s aspirational digital universe.
Financial brands must think beyond the product.
Can a payment provider create interactive, content-rich activations at cultural events?
Can an insurance brand gamify financial literacy on TikTok? Success lies in engineering shareable moments because if Gen Z isn’t posting about it, it may as well not exist.
Maximising the moment
Sponsorships remain a powerful tool for brand visibility, but too many financial
institutions treat them as static logo placements rather than dynamic content opportunities. The smartest brands leverage sponsorships to fuel an entire content ecosystem, extending their impact far beyond the event itself.
American Express gets this right. Its presence at Olivia Rodrigo’s concerts isn’t just about slapping its logo on event materials, it’s about curating exclusive, social-first experiences that drive organic engagement. From VIP fan activations to limited-edition merch drops, Amex transforms sponsorships into cultural currency.
Financial brands must take a similarly strategic approach.
Rather than simply sponsoring an event, they should ask: How can this moment translate into TikTok content? How can it be repurposed across Instagram reels, Twitter threads, or YouTube vlogs? How can this start a conversation? The goal is to amplify every sponsorship into
a long-tail, multi-platform storytelling opportunity.
The future of finance is social
The message is clear: social isn’t a bolt-on, it’s the foundation. Gen Z expects financial services to be intuitive, immersive, and culturally relevant. They won’t settle for anything less.
Gen Z are spending up to 6 hours a day online so, by harnessing influencer partnerships, crafting experience-led content, and executing sponsorships with a social-first lens, financial brands can move from being transactional service providers to indispensable lifestyle companions.
The industry is evolving. The brands that embrace this shift will not only stay relevant, but they’ll lead the conversation.
The time to get social is now.
Sam Budd, CEO & Founder, Buddy Media
Beyond Compliance: Why Fraud Is Reshaping the Future of Finance
Fraud is no longer a back-office concern. It has evolved into a system-wide threat that challenges the foundations of trust, safety and operational agility in modern finance. At Intergiro, 30 percent of our headcount is now focused on fraud prevention. That is not a vanity metric. It is a survival response.
What we are witnessing is not just an increase in fraudulent activity. It is a structural shift. Fraud is no longer a side
effect of digital finance. It is shaping how we build, govern and grow financial infrastructure. The future of finance will be determined not just by who moves fastest, but by who adapts best to this new threat landscape.
Fraud is Escalating and Personal
In the past 18 months, investment scams in Sweden surged by 80 percent. This is not anecdotal. It is systemic. We have seen the same pattern. Phishing, deepfakes, cloned storefronts, and social
engineering are becoming more sophisticated and more frequent.
Even seasoned professionals are not immune. I was nearly caught by a scam targeting consumers through a fake Uniqlo storefront. Only our internal controls blocked the transaction. That experience changed my perspective. If someone like me, who lives and breathes digital finance, can get targeted successfully, what chance do ordinary consumers have?
The Real Cost of Fraud Is Friction
The true cost of fraud is not just the financial loss. It is the operational drag. Every new scam introduces another layer of process. More reviews. More rules. More risk controls. Each layer adds friction for teams, users and product development.
Fintech was built to move fast. But fraud is slowing us down. And the more we rely on reactive models, the more we risk becoming the very institutions we set out to replace. We cannot scale trust by copying legacy playbooks. We need a new one.
The Source Is Upstream
More than 75 percent of digital scams start on social media. Yet responsibility for the fallout lands downstream on banks, fintechs and customers. Meta’s FIRE initiative with UK banks is a step in the right direction. But it places the burden on financial institutions without holding platforms accountable for what happens on their networks.
What we need is upstream accountability. A pan-European version of FIRE, tied into the enforcement power of the Digital Services Act, would be a strong step forward. Without platform-level monitoring
and real-time takedown capability, we are mopping the floor while the roof continues to leak.
Public Awareness Is Still Far Behind
Between 2020 and 2022, fraud cost the EU an estimated €157 billion. For context, that is only three times less than the total EU COVID response budget of €464 billion. But while COVID received mass campaigns, daily briefings, and coordinated policy responses, fraud barely makes it into public discourse.
We need the equivalent of a pandemic-style information campaign. Not leaflets, but interactive, mobile-first content. Scam spotters. Browser plug-ins. In-feed videos that reach users where scams do.
We should be teaching people:
● Banks do not ask for login details over text
● Wire transfers are final and cannot be reversed
● Any scheme that promises fast profits is almost certainly a scam
AI, which is now used to scale scams, can also be used to stop them. Consumers should be trained to use tools to verify wallet addresses, scan investment proposals and spot fake storefronts. These tools are available, but the knowledge gap is still wide.
Collaboration Is No Longer Optional
Fighting fraud in isolation is ineffective. Fraudsters collaborate. So should we. Fintechs need secure and privacy-conscious ways to share threat signals, patterns and blocked accounts. This is not about centralised control. It is about decentralised defense through shared knowledge.
We are piloting secure data-sharing models with other fintechs in Europe. The goal is to make fraud detection faster
and harder to evade. This is not about competition. It is about survival.
Fraud is not a product feature. It is not just a compliance task. It is a core part of how financial businesses must operate. And it must be addressed at a systems level.
The Shift in Risk Thinking
Our objective is not to eliminate fraud entirely. That is not realistic. Instead, we aim to detect it early, contain it quickly, and maintain a smooth experience for legitimate users. It is about balancing trust, performance and protection in real time.
This requires adaptability. Rules must evolve. Processes must remain lean. Precision must replace bureaucracy. Building this capability is not just a technical challenge. It is strategic.
A New Era of Financial Defense
The Scamdemic is not a passing phase. Fraud will continue to rise. The tools used by attackers will become more advanced. But so will our ability to defend, if we act decisively.
At Intergiro, we are investing in the people, the partnerships and the public awareness necessary to adapt. This is not just about keeping our systems secure. It is about keeping the financial system resilient.
Fraud is no longer a side issue. It is a defining factor in how we build the future of finance. And if we want that future to endure, we cannot build it on a cracked foundation. It is time to fix the roof.
Nick Root, CEO, Intergiro.
Maha El Dimachki
Controlling AI. Can we? Should we?
We all know that AI is advancing at a fast rate. Faster than we’d like although we’ve always been aware that this is inevitable.
AIis becoming more human like and with the rise and advancement in generative AI models, what AI is capable of doing will only improve over time.
There is significant debate on where AI is now. Some don’t believe it is capable of replicating human behaviour or decision making. On the other hand, some believe it will control our lives.
We may disagree to what degree it is human like, but we cannot disagree that the speed of its progress is like nothing we’ve seen before.
AI has the potential to transform lives. It has promising applications in financial innovation, with everything from automating manual tasks, to providing financial advice to now agentic AI where your AI bot can potentially perform complex financial transactions on your behalf.
The benefits are enormous. With every new opportunity comes new risks.
What are the risks?
There has been many warnings on the risks of AI. Largely focused on privacy, intellectual property, ethics and biases, concentration of wealth and displacement of jobs to name a few.
These are real considerations that society must deal with as AI continues to develop and everyone has a role to play in managing the risks.
The role of regulator and policy makers
Many are advocating for AI to be regulated and this has already started. In my book, Fintech Regulation in Practice, I discuss how Europe has led in AI regulation and how the concept of outcomes based regulation can help shape how we think of AI outcomes.
I also mention the concept of same risk, same regulatory outcome.
Same risk, same regulatory outcome. Not same regulation.
Same risk same regulation comes from the view that regulation is technology agnostic. A financial regular does not regulate the technology, it regulates the activity. This is true and applies to most of financial services today. After all, the regulator does not dictate what messaging standards, what fraud detection system or indeed whether you use spreadsheets or some other accounting software.
But what happens when an AI is acting as an agent and can act autonomously? Are the parties to the transactions changing? Same risk, same regulation no longer is sufficient.
I propose here a nuanced change to the concept. That is ‘same risk, same regulatory outcome’. I’m focussing here on the outcome. If we observe the risks, and they are similar to other familiar risks, we
can focus on achieving an outcome that is fair and consistent. This allows regulators to be flexible in the tools they can use to achieve that outcome, and it will allow them to be technology agnostic, although regulators must be technology aware and familiar. They must understand what the technology is doing, what its potential and how they may use their tools or invent news ones to deal with the risks. This is more important today in the AI age than ever.
The role of Fintechs
Fintechs must observe their regulatory obligations. We also want them to innovate. The balance between regulation and innovation is key.
The Fintech has an obligation to ensure that it has a deep a thorough understanding of what AI can do before it considers applying it to its business processes. This means that it is not sufficient to rely on the small number of technology staff that are building the models. Senior management up to board level need to be
engaged, curious and invested in the decision around the use of AI in the business. How is it changing its workforce or delivering the on the culture and commitment of the organisation? I also discuss this in my book and give tips on how to approach it.
The leadership team, from board to executive team should not be afraid of AI and don’t need to be technical to understand how it works. Critical thinking and a disciplined approach to the application of AI with the right outcomes in mind is what will allow us to develop it safely and to the benefit of the economy and society.
Our individual role
The call to action here is for all of us to take responsibility for AI literacy and AI fluency, whether we are in business, in regulation or a recipient of services. Only then can this technology have a collective benefit to society.
Will AI take over the world? Only if we let it. Now is the time for action.
Investing in Africa’s Sustainable Future: A Profitable Path Forward
Investing in Africa’s green economy is not charity - it’s smart economics. Africa is facing severe climate impacts, despite being least responsible for the crisis, underscoring the urgency and opportunity in sustainable finance. The need for sustainable solutions that reduce greenhouse gas emissions and build climate resilience, such as renewable and decentralised energy systems on the continent is vast, and harnessing these resources can lead to
significant economic growth and stability. Investors who recognise this now will position themselves ahead of a booming market, reaping both economic and environmental dividends.
The Power of Decentralised Sustainable Solutions
The World Economic Forum defines green finance as structured financial activities designed to deliver improved environmental outcomes. Africa is
disproportionately affected by climate change, facing escalating extreme weather events such as floods, tropical cyclones, and wildfires. This makes investments in green finance crucial for Africa’s continued economic development.
Africa has abundant renewable energy resources - including solar, wind, hydro, and biogas - yet many remain untapped or underutilised. Transitioning farmers,
businesses, and communities to decentralised renewable energy sources not only reduces greenhouse gas emissions but also supports long-term economic stability and resilience.
Over 600 million Africans currently live without reliable access to electricity. Decentralised and renewable energy solutions are therefore essential for sustainable growth. However, implementing these solutions requires financial resources to cover the upfront costs of purchasing and maintaining systems like biogas digesters, solar pumps, and solar home systems.
The significant electricity gap in Africa presents an equally significant
opportunity for investors. While potential investors often perceive risks related to political instability, regulatory uncertainty, or economic volatility, reality paints a different picture on the ground. By partnering with reliable, locally established firms, investors can effectively navigate complexities and facilitate successful investments, unlocking substantial returns.
Green Investments can Transform African Agriculture
In Eastern Africa, over 65% of the population relies on agriculture, an industry increasingly threatened by climate-induced droughts and unpredictable weather patterns. Many farmers currently use diesel-powered irrigation systems, which are costly and contribute further to greenhouse gas emissions, exacerbating the climate challenges they face.
Investing in sustainable agriculture through green finance offers a transformative alternative. Solar-powered irrigation systems can secure year-round food production, reducing dependence on erratic rainfall and mitigating the effects of prolonged droughts. However, the initial investment required is typically beyond the financial reach of most African farmers.
Here lies a clear opportunity for investors. Farmers need access to small-scale loans, usually unavailable through traditional financial institutions. Providing tailored loans for sustainable irrigation projects not only ensures financial returns for investors but also significantly reduces greenhouse gases compared to fossil fuel alternatives. Such loans allow farmers to invest in long-term sustainability while simultaneously lowering operating costs and enhancing productivity.
Simply put, it’s a win-win for everyone.
Why Sustainable Investment in Africa is Good Business
While countries like the UK have pledged billions toward supporting green initiatives, further investment is crucial. Access to capital is key to transforming sustainable projects from proposals into reality, enabling African nations to effectively address climate risks and stimulate sustained economic growth.
Africa’s green economy offers significant investment potential, combining substantial financial returns with meaningful environmental impacts. More than half of individual investors intend to increase allocations to sustainable investments, with over 70% believing strong environmental, social, and governance (ESG) practices lead to higher returns. This positions Africa’s sustainable finance sector as an ideal investment destination, aligning investor profitability with vital climate action.
The case for investing in Africa’s green economy is stronger than ever, combining powerful financial incentives with urgent climate action. Investors have a unique opportunity to contribute meaningfully to sustainable development while benefiting economically. By financing renewable solutions and sustainable agriculture, investors can protect livelihoods, foster economic resilience, and secure strong returns.
Green finance in Africa is a rare opportunity where profitability meets purpose.
Brett Sievwright, CEO, Platcorp Group.
Mike Southgate
Co-founder of ERMI discusses what a transaction monitoring system is, why they are so important and what must be considered when selecting one
What to look for in a transaction monitoring system
Transaction monitoring systems are designed to identify suspicious or unusual activity in financial transactions. For financial services organisations that handle transactions, they are crucial for detecting potential money laundering or other criminal activities.
Transaction monitoring is not just about good practice, it is a legal requirement and part of different Anti-Money Laundering (AML) regulations worldwide. For example, in the UK, it is covered by S28(11) of the Money Laundering Regulations (MLR).
At its heart, transaction monitoring is about giving an organisation the ability to keep a close eye on a client’s transactions to ensure compliance and quickly detect red flags. This may be a simple concept but the implementation of it is much more complex.
How does a transaction monitoring system work?
For a transaction monitoring system to
work properly, it must have access to comprehensive transaction data. This data is essential for identifying potentially fraudulent activity and establishing patterns. The system needs to compare a client's transactions against their historical transaction data, their expected usage and also the transactions of other clients.
These systems should operate on a risk-sensitive basis, using a set of defined rules that are configured to spot anomalies which vary depending upon the client's risk. Once identified, each of these anomalies needs to be explained, documented and addressed appropriately. A robust transaction monitoring system will also maintain records of all raised alerts for transparency and auditing.
The correct frequency and nature of the monitoring depends on the risk level of the organisation, its products and its clients. For firms handling only a small number of transactions or who rely on manual processes, a manual monitoring system may be enough. However, any business processing higher transaction volumes with minimal human intervention will require an automated system.
A common debate in transaction monitoring is whether the monitoring process should be real-time or post-event. Current regulations do not mandate real-time monitoring. Instead, they focus on ensuring the effectiveness of the rules and the firm's capacity to address the outcomes. Retrospective monitoring, reviewing transactions after they occur,
is viewed by regulators as effective as long as the rules are robust and the right resources are available to ensure timely investigations.
The appropriateness of retrospective monitoring however will depend on its frequency and the firm's risk profile. While day-end monitoring is likely to be acceptable in many cases, less frequent reviews, such as monthly or during ad hoc Know Your Customer (KYC) refreshes, will usually fall short of compliance expectations.
What makes a good transaction monitoring system
A system’s performance will rely on the quality of its rules and alerts. These must be carefully set to ensure that all potential risks are detected but without the organisation becoming overwhelmed with excessive false positives that it doesn’t have the resources to action. Achieving
this balance is paramount for efficient resource management and prompt responses to alerts.
Ongoing evidence of a firm’s compliance with anti-money laundering and counter-terrorist financing regulations is also key. A transaction monitoring system must meet legal requirements and maintain detailed records to support audits and regulatory reviews. The accuracy of customer reference data and transaction analytics is also vital. Reliable data will help minimise false positives so that the system can identify suspicious patterns more effectively.
The ability to customise and adapt the system is important. Monitoring rules must align with the organisation’s actual risk profile and adapt to its evolving needs. Seamless integration with other compliance tools, such as customer due diligence (CDD) and enhanced due diligence
(EDD) frameworks, will enhance the ability to have a comprehensive view of financial risk. Regular audits and reviews will also be necessary to identify gaps, evaluate the effectiveness of rules and refine rules and processes as needed. Tracking key performance metrics, such as false positive rates and average investigation times, will provide valuable insights into the system’s efficiency.
Using these factors will enable organisations to implement a transaction monitoring system that ensures they remain compliant, resilient and that they are well placed to address the evolving challenges of financial crime. Ultimately, organisations that adopt cost-effective and efficient transaction monitoring will be better equipped to protect themselves from financial crime, maintain trust with stakeholders and operate confidently what is a highly regulated and dynamic industry.
How FS brands can win Gen Z in
times of economic crisis
Gen Z is rewriting the rules of marketing engagement across the board. As the first truly digital-native generation, their behaviours, expectations, and trust in financial services (FS) brands looks radically different from previous generations – but not necessarily in the way you might think.
In fact, dentsu’s latest UK Consumer Navigator Report revealed that Gen Z is emerging as the UK’s most financially savvy generation with almost half (45%) planning to open a regular savings account in the next three months —significantly outpacing Millennials (29%), Gen X (16%), and Boomers (14%).
Beyond savings, the data also proved that Gen Z is making bold moves toward diverse financial investments. Around one third are considering buying stocks and shares (38%), investing in cryptocurrency (33%), or adding to an ISA contribution (32%) over the same period, showcasing a generation eager to build financial resilience and long-term stability.
There’s no doubt that Gen Z represents a considerable opportunity for those operating in financial services. However, in an increasingly competitive landscape, attracting and retaining the attention of this generation is challenging. The most successful FS brands moving forward will be those that listen to their audiences and adapt.
It’s well known that social media is increasingly shaping Gen Z’s brand discovery and engagement. Platforms like Instagram and TikTok are already leading the way when it comes to making retail purchases. It’s only a matter of time before traditional FS advertising is not going to be enough.
To stay relevant, financial brands must rethink their approach to social media. Instead of just using it as an awareness channel, they should focus on educating, engaging, and converting audiences within social ecosystems. For example, with TikTok being increasingly used as a search engine, FS brands should concentrate on creating bite-sized, SEO-optimised video content offering financial advice. Leveraging influencers and user-generated content could be another way to get ahead, as Gen Z trusts peer recommendations and authentic voices more than corporate messaging.
Despite being digital natives, nearly one in three (32%) Gen Zers plan to access financial services in person this year –the highest percentage of any generation. This could be linked to lower financial confidence, and the belief that discussing finances face-to-face leads to better understanding, or perhaps it’s just a matter of convenience, as many Gen Z consumers live in cities and areas where branches are more accessible. Either way, FS organisations cannot afford to ignore the pull of in-store interactions for this generation.
Therefore, hybrid banking models which combine digital convenience with in-person support should be considered. Similarly, pop-up financial advice events which bring banking services to Gen Z-populated spaces, such as universities and festivals, could be a great way to drive attention.
Focus on frictionless experiences and authenticity
For Gen Z audiences, a frictionless experience is no longer a ‘nice to have’; it is
an expectation. This generation demands quick access and seamless interaction. Any unnecessary complexity – such as slow onboarding processes or unreliable transaction processing - can very quickly drive them towards more agile competitors.
Therefore, FS brands must eliminate barriers and ensure that every interaction feels effortless and value driven. AI-driven personalisation can help with this by providing hyper-relevant financial recommendations. Similarly, seamless integrations that allow transactions across platforms - such as embedded finance and digital wallets - can help create a more frictionless experience.
However, Gen Z isn’t just interested in smoother experiences. They also want to know that the brands that they are interacting with align with their own values. In fact, one in five believe that brand values, including a commitment to diversity and inclusion, influence their choice of financial services provider.
Indeed, when it comes to FS brands, a focus on authenticity and social responsibility is just as important as offering a seamless experience. Showcasing how products align with sustainability goals and highlighting initiatives that support diversity and inclusion can encourage deeper connection and long-term loyalty.
Becoming trusted advisors
To attract Gen Z customers in the current landscape and beyond, FS brands must do more than just offer attractive savings accounts: they need to position themselves as trusted financial partners. In order to do so they must understand their audiences, including how and where they interact, what they want to see from the brands they engage with, and what ultimately makes them tick (or rather, click).
The most successful FS brands of tomorrow will be those that can succeed in earning Gen Z’s trust today by balancing digital-first strategies with authentic opportunities for human connection.
Robert Hann, VP Sales Global, Entrust
How Static Identity Enables Fraud
Over the last year, GenAI has fuelled a boost in digital forgeries. So much so that it now accounts for 57% of all document fraud, a staggering 244% increase over the previous year, according to recent research.
With identity fraud surging and digital interactions becoming fundamental to daily life, static identity systems, wherein personal data is stored in large, centralised databases, have become a honeypot for attackers. From the UN’s aviation agency to American ticket and sales platform, Ticketmaster, millions of people have fallen victim to data breaches that have revealed sensitive and private data.
Thus, a more secure approach is needed, one which will work to put end users’ sensitive identity and data security first. Shifting to a dynamic digital identity, where identity data is constantly verified and decentralised, gives individuals more control over their personal data and reduces vulnerability to attacks, all while enabling low friction verification and authentication.
Embracing Dynamic Digital Identities for Stronger Security
As the fraud landscape evolves, digital identity systems evolve in tandem. Instead of relying on outdated systems, dynamic identities are constantly verifying who we are, using advanced tools like biometrics
and behavioural analytics. This means fraudsters are faced with more difficult, ever-moving targets.
Blockchain-powered identity wallets, which puts control back to the identity owner, provides strengthened protection by ensuring that information is less vulnerable to exploitation and breaches. Using encryption and digital keys, these systems let users confirm their identity without revealing the valuable sensitive details that cybercriminals and fraudsters are after. It works by obscuring personal information right at its source, allowing consumers to see and revoke access to their data at any time. Instead of simply storing everything in a central government database, which can be an easy, static and appealing target for fraudsters, users can securely keep details like their date of birth or address contained within a digital ID wallet. This system makes it much harder for hackers to target individual digital identities compared to traditional database storage methods.
The beauty of this approach is that it completely transforms the paradigm of data privacy. It puts control of private data back in the hands of the people. By embracing
this shift, individuals gain tighter control over the information they share, while organisations can address rising concerns around data ownership. To make this system work, individuals need to understand how it operates; this is where the UK government would need to focus on education and awareness in order to win the hearts and minds to make any digital identity rollout a success. Equally, consideration should be made towards being open and allowing citizens to choose their ID wallet e.g. Apple, Google, Samsung etc.
In Action: How are Dynamic Digital Identities Being Embraced?
Financial institutions are already embracing the shift towards dynamic, digital forms of identity, driven by the need for convenience, security, and efficiency. As customer expectations and the threat landscape evolve, banks and financial services are moving quickly towards AI enabled biometrics, such as facial recognition and fingerprint scanning, alongside verifiable e-IDs, when available, to verify identity. The UK government has also started to embrace digital IDs with the recent announcement of a digital document app, launching this summer. This initiative
aims to provide a secure and simple way for people to verify their identities online and at the point of need.
Globally, governments are recognising the importance of digital identities; according to research, over 57% of citizens from select G20 countries (the UK, US, Australia, Canada, France and Germany) prefer to conduct interactions digitally, including 39% who specifically referenced accessing government web portals digitally. The European Union has developed and launched frameworks that will guide EU citizens and businesses who want to securely identify themselves digitally. BankID in the Nordic countries is great example of a success story as a widely adopted e-ID system and was launched in 2004. It was initially driven by banks and later supported by governments for accessing both financial and public services. BankID is currently undergoing a migration to a
more versatile and user-friendly ID wallet format which aims to enhance user experience, security, and functionality, aligning with broader trends in digital identity and the European Digital Identity Wallet initiative.
While there are valid concerns surrounding digital identities in the UK, a well-managed rollout of the government scheme could significantly enhance identity security. British consumers, whilst naturally sceptical about ID cards, particularly when associated with GOV UK, are likely to embrace modern wallet based digital identities if they provide convenience and ease of use. To ensure that people’s data is kept secure, the success of the government ID rollout is dependent on embracing dynamic digital IDs rather than a centralised database or “honey pot” for adversaries to breach. The government will need to adopt a blockchain-based model; with the
right security measures in place, digitising identities will not only help reduce friction for the UK consumer but also keep up with the modern approaches seen across Europe.
Static identity systems are no longer fit for purpose in an era of rising digital fraud and interactions. As technology advances, so too must our approach to identity verification. By embracing decentralised, dynamic digital identities, individuals gain more control over their personal data, while organisations and governments can embrace more robust security measures without sacrificing user convenience. A well-implemented system that puts blockchain, biometrics, and encryption at the forefront will not only weaken hackers but also empower consumers to engage with the digital world safely and seamlessly.
Deepfakes, Imposters and Lies:
why AI is a major content threat for financial services
For lifestyle and consumer brands, AI has become a creative powerhouse. Need an engagement boost, increased personalisation or help landing content? AI’s your answer.
But in financial services, it’s not so simple.
Here, AI is fast becoming one of the industry’s biggest reputational threats – not because of what brands are doing with it, but because of what others can now do to them.
Financial services brands have always operated in a high-trust environment. Trust underpins everything: the strength of a brand, the behaviour of markets, the decisions people make with their money. It takes years – sometimes decades – to build. But with the rise of AI-generated content, it can now be destroyed in seconds.
We're entering a new era of misinformation, where fake personas, deepfaked videos and synthetic content can be created with astonishing speed and
realism. Already we’re seeing scammers use AI to impersonate CEOs, create fake customer service agents, and generate convincing but entirely false brand content. The risks extend from PR damage to regulatory breaches and financial loss. The threat isn’t just hypothetical – it’s happening.
For financial institutions, this creates a complex new challenge: how do you maintain credibility when the tools to mimic it are freely available?
The danger is particularly acute on social platforms, where content moves fast and is often consumed without question. A fake post, AI-generated announcement or doctored video could go viral before anyone inside the organisation has even clocked it. By the time the truth emerges, the damage is already done.
This isn’t just a comms issue. It’s a business risk. The next reputational crisis might not be real, but it will look like it is. And the public, regulators and media won’t always wait for the facts.
- Adam Biddle, CEO & Co-Founder, GH05T
What complicates things further is that many financial institutions are now experimenting with AI themselves – both behind the scenes and out in the open. Etoro, for example, has launched ad campaigns created with generative AI. While there’s excitement about the creative possibilities, that same technology is being used to mislead, manipulate and impersonate. The line between brand innovation and brand risk is thinner than ever.
So what can financial brands do to protect themselves?
1. Get proactive about the risk
AI in financial services is no longer a future concern, but a present threat. Too many brands still see it solely through the lens of automation and efficiency. The first step is shifting the mindset: understanding how these tools are being used against you is now just as important as how you're using them.
2. Bolster monitoring and response
Real-time monitoring across major platforms – and closed networks like WhatsApp and Telegram – is essential. Different platforms carry different risks: X accelerates virality, LinkedIn gives legitimacy to impersonators, encrypted apps limit visibility. Platform-specific monitoring, rapid response protocols and verified brand accounts are essential tools in your reputation armoury.
Internally, every team – especially those in customer-facing roles – should be trained to spot the signs of AI manipulation and respond fast.
3. Strengthen your brand and build familiarity
The more transparent, human and consistent your brand voice is, the harder it is to replicate. When people know how your brand communicates across different platforms, they’re more likely to question content that doesn’t feel right. In this new landscape, familiarity becomes a form of defence.
4. Choose your partners wisely
Tackling this challenge takes more than a good comms plan. It requires creative strategy, technical awareness and constant vigilance. Work with agencies that understand both the potential and the risks of AI – teams who can help you create content that builds trust while monitoring for threats that seek to dismantle it.
AI isn’t going anywhere. For some sectors, it’s a creative liberation. But for financial services, it’s a reputational minefield. The brands that navigate it best won’t just be the ones who adopt AI fastest – they’ll be the ones who understand the threat and act before it becomes a crisis.
