Banks have been investing in AI over the last few years, focusing on specific use cases. They must now scale AI across their business processes and incorporate emerging advancements in GenAI.

DBS’ Business Advance+ card will streamline cross-border transactions, alongside its StartUp Movement to provide targeted financial and business support for small businesses in Singapore

North America and Asia Pacific banks maintain overall balance sheet strength over those in other regions, with the Middle East showing some improvements. Profitability among all 1000 banks improved, driven by higher interest rates, while asset quality indicators stayed stable.

While leading financial institutions are rapidly integrating GenAI into operations to enhance efficiency, challenges in model reliability, data integrity, and compliance hinder implementation and scalability.