Backbase Prediction: 2025 - The Year Of Ai And Fintech Dominance

As the world struggles to make sense of the whirlwind of directives on global trade and it impact on the financial environment coming from the new US administration, Backbase's new report: Banking reinvented: Top 6 Predictions for 2025 comes as a timely guide for banking planners.

Among its predictions is the increasing role that AI will play banking going forward. "Agentic AI is a game-changer for modern banking. It empowers us to offer hyper-personalized experiences, optimize complex workflows, and proactively manage risks - all while reducing costs," said Chris Shayan, Head of AI at Backbase.

AI-powered customer-service assistants - especially AI agents - will become increasingly popular as banks seek to realize productivity gains. Backbase provides banking infrastructure software worldwide, and works with a wide range of financial institutions, from large banks to credit unions and community banks.

The company which provides banking infrastructure software worldwide, and works with a wide range of financial institutions, from large banks to credit unions and community banks, cautions that banks that don't integrate AI into their technology stacks will end up being less competitive amid widespread industry adoption.

"But as more and more financial institutions jump on the AI bandwagon, banks will find it increasingly difficult to use this tech as a differentiator, so the time to get started is now, even if you're only starting small," the report says.