5 Ways Generative AI is Transforming the Payments Ecosystem

3 min read


The generative AI boom is set to accelerate digital transformation throughout a range of industries and breathe fresh life into a banking ecosystem that still struggles with overcoming legacy processes. With payments already a focal point for challenger banks and fintechs, GenAI can help to deliver efficiency on a broader scale.  Bloomberg data suggests that generative AI is set to grow into a $1.3 trillion industry by 2032, and this will see use cases emerge throughout the field of finance.  Crucially, the rise of generative AI will aid fintech in delivering more open finance services for customers in an impactful…...

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Dmytro Spilka Dmytro is a tech and finance writer based in London. His work has been published in Nasdaq, Kiplinger, Financial Express, The Diplomat, IBM, Investment Week and FXStreet.