Industrial Research Unit · Straits Institute for Applied AI
Applied AI in Finance & Insurance
86 entries on the record in finance & insurance — 67 deployments, 7 pieces of evidence of adoption, 6 pieces of evidence of impact, 6 regulations. Each one is traced to a named source and dated. Maintained continuously by the Industrial Research Unit; the record was last updated 14 Sep 2026.
Entries
86
Countries
46
Most recent
10 Sep 2026
Kind
Country
Role
86 entries
Evidence of impactFinance & InsuranceCanada10 Sep 2026
Western Financial Group credits AI with 2.3% lift in client retention
Western Financial Group — Insurance brokerage Western Financial Group has rebuilt its service operations on Quandri's AI. The companies credit the change with a 15% lift in personal-lines EBITDA and $2.5 million extra margin, a 2.3% retention gain worth $1.5 million in marginal revenue, and 14 full-time roles moved from admin to client relationships, across 180-plus branches and 300,000 personal-lines policies. No independent evaluation exists, and the release gives no measurement period.
Evidence of adoptionFinance & InsuranceHungary8 Sep 2026
Nine in ten Hungarian banks use AI or plan to within a year
Magyar Nemzeti Bank — Over 170 AI banking use cases now sit in Hungary's banking sector: operations, customer relationships, sales. Izer Norbert, who runs financial markets and digitalisation at the Magyar Nemzeti Bank, told the AI Summit 90 percent of domestic lenders use artificial intelligence already or mean to within twelve months. Eight big lenders each carry five or more active AI projects.
Nationwide rolls out Microsoft 365 Copilot across workforce
Nationwide Building Society — Microsoft 365 Copilot now serves 1,000 finance staff at Nationwide Building Society, alongside 2,500 engineers on GitHub Copilot, under an organisation-wide rollout. 15 million customer records have also moved onto one cloud data platform, advancing AI in financial services and a broader banking AI transformation.
Life insurers' association hands consumer complaints to AI in Korea
Korea Life Insurance Association — The Korea Life Insurance Association has introduced AI complaint handling alongside AI review of advertising and internal regulations. Speech-to-text transcribes consumer–counsellor calls live, classifies each complaint type and gives counsellors supporting material mid-call. Three applications went live this month, and the association aims for 17 projects, including translation, contract review and legal review, during 2027.
Evidence of adoptionFinance & InsuranceSwitzerland7 Sep 2026
UBS makes AI skills a hiring bar for junior bankers
UBS — Starting in 2027, UBS will reject graduate and intern applicants who cannot demonstrate AI skills in investment banking. Candidates must prove they can use AI tools to lift efficiency and results, a standard now placed next to the usual academic bar. UBS becomes one of the earliest banks to make artificial intelligence competency in banking a hiring gate rather than something learned on the job afterward.
M&T Bank puts AI copilots in the hands of 15,000 staff
M&T Bank — M&T Bank has given AI copilots to over 15,000 of its roughly 22,000 employees, extending Microsoft Copilot, GitLab code generation and an internal repository called Edison to software development, report drafting, call-centre analysis, identifying customer needs and flagging risk. Chief data officer Andrew Foster said AI call summaries save about six minutes each, and that the bank's data-lineage work on Solidatus and Monte Carlo predates generative AI. Employees must review all AI-assisted work.
DeploymentFinance & InsuranceIsle of Man4 Sep 2026
Conister Bank deploys AI to process DCA redress claims
Conister Bank (Manx Financial Group) — Conister Bank, part of Manx Financial Group, now applies AI in banking redress work, automating its Discretionary Commission Arrangements restitution process for far less than a third-party processor would charge. The tooling sorts through bulk complaint correspondence, pulls out key data points and drafts customer replies, though humans still sign off every final decision. This automated redress handling forms part of the wider AI strategy the Isle of Man-based group set out.
United Overseas Bank — United Overseas Bank has put more than 300 AI and analytics use cases into production under an AI assurance framework that tests, validates and continuously monitors models across their lifecycle. It also runs 30-plus domain-specific chatbots and has given Microsoft Copilot to over 30,000 employees. Alvin Eng, UOB's head of enterprise AI, says scaling AI safely hinges on operating discipline, governance and controls more than on having the strongest individual models.
Agrobank scores Uzbek borrowers with AI and big data
Agrobank — Agrobank now uses AI and data analytics in lending, internal controls and credit risk assessment. Internal auditor Shahob Eddin Masharipov says AI credit scoring on big data, drawn from tax reporting, telecom data and transaction activity, rates retail and small-business borrowers. Automated data checks cut microloan decisions to a few minutes with no credit officer involved, the bank says.
DeploymentFinance & InsuranceSouth Korea31 Aug 2026
Woori Bank rebuilds its chatbot around AI agents with KT
Woori Bank — Woori Bank has hired KT to rebuild its chatbot and advisory bot as AI agents in banking, linked to its 'AI Banker' financial consultation service through KT's Agent Connector so customer context follows across channels. KT has started development, aiming at sharper intent recognition and AI in outbound calls and branch consultations.
Colombia's Grupo Aval moves 36 AI agents into production
Grupo Aval — Grupo Aval has moved over 36 AI agents in banking into production in 18 months via ADL Digital Lab and its RE initiative, handling digital-channel data management and conversion for over three million Colombians. Technology vice-president Ernesto Gutiérrez gave the figures; Lulo Bank described AI spanning decision-making, risk management, operational efficiency and customer interaction.
DeploymentFinance & InsuranceSouth Africa28 Aug 2026
Discovery Bank runs most client chats through its AI channel
Discovery Bank — Discovery Bank now handles over half of client interactions through its in-app AI banking channel, which works in natural language, chief executive Hylton Kallner told an African business AI summit. He said the in-app assistant was delivering the bank's highest customer-satisfaction scores yet.
IndiaFirst Life embeds AI agents across underwriting and claims
IndiaFirst Life — IndiaFirst Life has chosen Salesforce Agentforce to place AI agents in insurance work across claims processing, customer service and new-business underwriting. The agents review KYC and medical documents, sort and answer service cases and check claims paperwork.
Experian opens a credit-card marketplace inside ChatGPT
Experian — Experian has launched a credit-cards app inside ChatGPT, taking its credit-card marketplace into conversational AI. Consumers can compare and find card offers without leaving their ChatGPT conversation.
Evidence of adoptionFinance & InsuranceArgentina27 Aug 2026
AI assistants drive a surge of traffic to Latin American banks
Similarweb — Similarweb data shows AI-referred traffic to Latin American banks rising sharply between January and July 2026, from +128% in Mexico to +294% in Peru and Argentina. Santander Argentina saw the region's biggest jump; AI assistants otherwise sent most visitors to BCP in Peru, Bancolombia in Colombia, BancoEstado in Chile and Banamex in Mexico.
Evidence of impactFinance & InsuranceUnited States27 Aug 2026
Claims adjusters give AI 98% negative reviews as their numbers fall
Glassdoor — Glassdoor found 98 per cent of claims-adjuster reviews mentioning AI negative, the harshest among occupations studied. Adjusters said leaders pushed faulty tools whose mistakes staff had to fix, hurting service to policyholders. Adjuster employment fell 21 per cent from May 2025 to May 2026 (Bureau of Labor Statistics), and entry-level postings are down 50 per cent since 2025. Insurance was the third most AI-critical industry, with 81 per cent of comments negative.
Hong Kong regulators select 36 AI cases for supervised finance trials
Hong Kong Monetary Authority — The Hong Kong Monetary Authority, the Securities and Futures Commission, the Insurance Authority and the Mandatory Provident Fund Schemes Authority, with Hong Kong Cyberport, have picked 36 use cases from nearly 100 proposals for the first GenA.I. Sandbox++ cohort. 30 financial institutions and 27 technology partners take part, including Ant Bank (Hong Kong), WeChat Pay Hong Kong and Hang Seng Bank, focusing on agentic AI in finance for customer interactions, insurance claims, payments and onboarding, and on AI giving dynamic oversight of other AI applications' actions.
Bank of Ghana puts AI behind its inflation forecasts
Bank of Ghana — The Bank of Ghana is applying AI, big data and machine learning to quicker economic intelligence, AI inflation forecasting, growth projections and earlier financial-risk spotting. First Deputy Governor Dr Zakari Mumuni outlined it at the Ghana Statistical Association's 4th Annual Statistics and Data Science Conference in Tamale. Fuzzy definitions, mismatched categories or badly checked data, he cautioned, can mislead even the most advanced forecasting models.
BBVA gives its South American business bankers an AI sales assistant
BBVA — BBVA's Brújula, an AI sales assistant for bankers built by its South American teams, helps corporate and institutional relationship managers in Colombia, Argentina, Venezuela, Peru and Uruguay rank opportunities, prep meetings, log client visits and draft financing proposals. Each interaction feeds the next client conversation, and the manager keeps professional judgement and accountability for decisions and the portfolio.
Banco Azteca orchestrates more than 8,800 processes with AI agents
Banco Azteca — Banco Azteca, among Mexico's biggest financial institutions, has shifted its automation onto UiPath's Maestro platform, using agentic AI in banking to coordinate people, AI agents and systems across entire business processes. More than 300 production automations span customer service, HR, procurement, legal, fraud prevention and compliance, plus over 8,800 automated processes UiPath equates to more than 3,300 full-time employees' work, unverified by any independent evaluation.
Deutsche Bank deploys Google's AI research agent across its Corporate Bank
Deutsche Bank — Germany's Deutsche Bank, a design partner for the Financial Research agent in Google Cloud's Gemini Enterprise for Financial Services, is rolling the AI research agent out across its Corporate Bank. The tool runs research end to end with source citations and audit trails, drawing on 50-plus specialised financial skills.
DeploymentFinance & InsuranceUnited States25 Aug 2026
CME Group adopts Google's Gemini agents for financial research
CME Group — CME Group is among the first adopters of Google Cloud's Gemini Enterprise for Financial Services, for agentic Financial Research workflows. Now previewing for corporate banking and capital markets, the platform runs research end to end with confidence scores and source citations.
DeploymentFinance & InsuranceUnited States25 Aug 2026
Citi Wealth, Lloyds, Macquarie and BNY adopt Google's finance AI agents
Citi Wealth, Lloyds, Macquarie, BNY — Citi Wealth, Lloyds Banking Group, Macquarie Bank and BNY are among financial institutions adopting Google Cloud's Gemini Enterprise for Financial Services, giving staff agentic research workflows. Its Google-managed Financial Research agent runs research end to end on 50-plus specialised financial skills.
Five global banks adopt Ant's Falcon model for FX forecasting
HSBC, Standard Chartered, Barclays, Citigroup, Deutsche Bank — HSBC, Standard Chartered, Barclays, Citi and Deutsche Bank are among global banks adopting Ant International's Falcon Time-Series Transformer (TST) 2.0 for AI FX forecasting and treasury hedging. Ant International's Kelvin Li says the model forecasts cash-flow and FX-exposure positions with over 90% accuracy and can lower hedging and allocation costs over 60%. None is independently evaluated.
Experian brings personalised credit scores into its ChatGPT app
Experian — Experian has added personalised credit scores to its ChatGPT app, calling it a UK first. Inside ChatGPT, users can now see their Experian credit score, its history and a factor-by-factor breakdown.
DeploymentFinance & InsuranceSouth Africa20 Aug 2026
Absa's AI customer-service chatbot passes 1.6 million users
Absa — Absa's agentic AI customer service chatbot, which understands natural-language queries and asks follow-up questions, has topped 1.6 million users and handles over 100,000 queries a month. Group chief information and technology officer Johnson Idesoh reported the agentic assistant's figures.
National Bank of Serbia will use AI model to track prices
National Bank of Serbia — Retailers must now publish daily price lists, feeding National Bank of Serbia (NBS) AI price tracking that produces short-term inflation estimates, says Governor Jorgovanka Tabakovic. The goal: an artificial intelligence model for inflation estimates showing price direction before official statistics arrive. NBS calls it a supplement to the Statistical Office's monthly reports, not a replacement.
DBS scales AI agents to 1,500 relationship and credit managers
DBS Bank — DBS Bank is scaling agentic AI in corporate banking to about 1,500 relationship and credit-risk managers globally after a 150-person pilot, with specialised agents covering more than 70 tasks and drafting review-ready credit memos. Credit memos and related work can take up to 40% of these bankers' time, which DBS aims to cut by at least 30%, says group head of institutional banking Han Kwee Juan.
Sun Life gives advisers an AI note-taker and a product concierge
Sun Life Canada — Sun Life's financial advisers have two AI tools: Notes Assistant, which summarises client meetings, drafts follow-up emails and compiles action items, and a new AI-powered adviser concierge answering product, policy and process questions. The insurer says Notes Assistant saves 15 to 30 minutes per client session and the concierge has handled over 11,000 client conversations since launch. Cutting admin frees advisers for client relationships, said Jessica Tan, executive vice-president and president of Sun Life Canada; Notes Assistant won a 2026 CIO Award Canada.
Evidence of adoptionFinance & InsuranceSerbia17 Aug 2026
Survey finds Serbian banks at 28% AI maturity in risk
KPMG / Association of Serbian Banks — KPMG and the Association of Serbian Banks scored AI maturity in Serbian banking risk at just 28% across 18 lenders surveyed. Most rely on scattered, ad hoc pilots rather than a coherent roadmap for artificial intelligence in risk functions, held back by weak data readiness. Assessed dimensions: strategy, deployment depth, staff skills, risk controls, data quality, infrastructure.
DeploymentFinance & InsuranceUnited Statespilot begins Aug 2026
Visa pilots an AI assistant giving cardholders in-app spending insights
Visa — Visa is piloting an AI financial assistant with US banks that shows cardholders in-app spending insights, fields natural-language questions on their activity, and lets them lock cards or set alerts mid-conversation. Visa says the pilot starts in August 2026, going global after the US launch.
Bermuda's regulator consults on responsible AI in financial services
Bermuda Monetary Authority — The Bermuda Monetary Authority is consulting on The Responsible Use of Artificial Intelligence in Financial Services in Bermuda, AI guidance for financial firms on applying existing obligations to AI they develop, deploy or use. Covering operational resilience, cyber security, transparency, data oversight, risk management and governance, it adds no new requirements or separate AI licensing regime; responses close 30 October.
DeploymentFinance & InsuranceNetherlands13 Aug 2026
ABN Amro reports running nearly 50 AI use cases in production
ABN Amro — ABN Amro's second-quarter 2026 results list nearly 50 AI use cases in production at the Dutch bank. Among them are GitHub Copilot for developers, a knowledge assistant helping analysts with anti-money-laundering and know-your-customer work, and the bank's first customer-facing generative-AI voice-bot.
DeploymentFinance & InsuranceKyrgyzstan12 Aug 2026
FINCA Bank launches Kyrgyz-language voice AI assistant
FINCA Bank — FINCA Bank has deployed Kyrgyzstan's first Kyrgyz-language voice AI assistant for its contact centre. Built in-house with proprietary recognition and synthesis models, it handles inbound and outbound calls plus live chat, letting people talk naturally rather than pick through menus. A banking voice bot transfer to a live agent stays available on request.
Interbank becomes the first Peruvian bank with a direct Anthropic deal
Interbank — Interbank has become the first Peruvian bank with a direct Anthropic agreement, deploying Claude Enterprise to an initial group of staff including knowledge workers and specialist technology teams. Training and support programmes accompany this enterprise AI in banking rollout to keep adoption responsible, the bank says. Claudio Querol, vice-president for data, analytics and AI, plans to extend the tool gradually to more staff and processes.
DeploymentFinance & InsuranceAzerbaijan11 Aug 2026
Bir puts an AI assistant inside Azerbaijan's m10 wallet
Bir — Bir has dropped a chatbot named Ey-ay into the m10 digital wallet, the first AI payments assistant fielded in Azerbaijan and a product of the Caucasus region's earliest joined-up e-commerce, banking and payments ecosystem. Everyday transfers and the rest of the menu now run as conversational payments through plain chat, riding a swift national retreat from cash. The group counts over 5 million customers, tied in with Trendyol Azerbaijan and BakıKart.
SEB banka introduces AI voicebot for urgent customer calls
SEB banka — SEB banka, the Swedish SEB Group's Latvian subsidiary, runs an AI voicebot banking service that lets customers lock a card or halt internet banking access on their own, without a human consultant. Launched to cover urgent requests, the system answers calls between 8pm and 8am on weekdays and non-stop across weekends. This voice assistant for banking targets time-sensitive emergencies rather than routine enquiries.
SBS Bank Eswatini goes live with AI treasury platform
SBS Bank Eswatini — SBS Bank Eswatini runs treasury work on Intellect Design Arena's eMACH.ai Treasury platform, an AI-powered banking treasury tool covering money markets, foreign exchange and fixed-income securities at 100% automation. Automated SWIFT messaging cut manual effort by 90%. The move backs growth from building society into commercial bank, after a provisional licence from the Central Bank of Eswatini.
CIBC launches Canadian banking's first enterprise-wide agentic-AI workspace
CIBC — CIBC has introduced CAI 2.0, an agentic-AI workspace where employees hand complex, multi-step tasks to AI agents that plan, coordinate and finish them. The bank calls it the first enterprise-wide platform of its kind in Canadian banking, and says predecessor CAI reached over 50,000 employees worldwide, with about 20,000 daily users.
Evidence of impactFinance & InsuranceCzechia31 Jul 2026
Czech National Bank builds an AI unit after shedding 5% of its staff
Czech National Bank — A central bank AI unit is taking shape within the Czech National Bank's information technology arm under Janis Aliapulios, pooling capacity the institution already holds into one coordinating team and adding no posts overall. Governor Aleš Michl put the headcount reduction at 5 percent, attributing the departures not to poor performance but to the same work becoming achievable more productively — the governor's own account, with no published external assessment of any link to the in-house AI capability. Grok and OpenAI were tried against inflation forecasts during 2025, MiCA licence files now pass through such tools, and servers carrying Nvidia graphics cards have been purchased.
Itaú Unibanco launches an in-app AI assistant to 300,000 clients
Itaú Unibanco — Itau Unibanco has released 'ia.i', an in-app AI banking assistant, to 300,000 clients, who can do their banking and seek financial guidance in natural language, spoken or typed. Built on a multi-model architecture, it should reach the whole client base by December.
Bank of Maldives expands Aaya AI assistant to handle banking service requests
Bank of Maldives — Bank of Maldives customers can now file banking service requests directly through Aaya, an example of an AI virtual assistant in banking absorbing tasks once handled by a separate messaging feature. The AI-powered digital assistant, built into the mobile app and Internet Banking platform, answers in real time in Dhivehi and English.
Jersey Financial Services Commission issues AI guidance for finance firms
Jersey Financial Services Commission — Jersey Financial Services Commission (JFSC) folds AI regulation in Jersey's finance sector into duties already binding on firms, bypassing any bespoke regime built solely for artificial intelligence. Its stance remains proportionate and risk-based, stretching current requirements to reach AI in financial services: oversight structures, human review, data stewardship and continuous scrutiny.
Banco Popular Dominicano hands card-delivery calls to AI assistants
Banco Popular Dominicano — Banco Popular Dominicano now uses AI virtual assistants to arrange bank-card delivery, calling customers to confirm addresses and chase new cards, renewals and replacements. Customers may switch to a human agent at any time, and the bank frames the AI as support for its staff.
Evidence of impactFinance & InsuranceRussia30 Jun 2026
Sber forecasts 550 billion ruble AI economic impact for 2026
Sberbank — Sberbank expects AI in banking to deliver a 550 billion ruble economic effect across all business lines in 2026, CEO German Gref told shareholders. He linked AI adoption in banking to stronger revenue from personalised offers, sharper pricing, lower credit risk and tighter cost control, adding that AI agents already produce credit proposals for 96% of corporate borrowers.
China classes credit approval AI as high risk for banks
National Financial Regulatory Administration — China's National Financial Regulatory Administration issued guiding opinions on 18 June 2026 on AI regulation in banking and insurance, with four principles including that users of an AI system are responsible for it. Institutions must grade AI uses by risk and route high-risk ones through approval; anything touching risk management, underwriting and claims, credit approval, asset valuation, fund transactions or generative AI directly shaping whether a financial contract is agreed counts as high-risk AI. Those need risk-committee sign-off, human oversight at critical points and reporting to the regulator.
BPI gives its whole legal department the Harvey AI platform
Banco BPI — Portugal's Banco BPI has put the Harvey legal AI platform across its whole legal department after a pilot the bank says raised productivity in the team's core work. BPI says the platform frees its lawyers' time from procedural tasks, and head of legal Luís Graça Moura says practical gains are already showing.
Evidence of adoptionFinance & InsuranceBelgium18 Jun 2026
Belgian financial firms move generative AI into claims and underwriting
FinTech Belgium, Sailpeak and Vlerick Business School — The third AI Barometer from FinTech Belgium, Sailpeak and Vlerick Business School sees generative AI in financial services reaching Belgian core processes beyond coding and customer service. 67% deploy it in claims processing and 46% in KYC/ALM, 64% pilot it in underwriting, and institutions seeking positive AI returns rose from 47% in 2025 to 75% in 2026.
TBC Bank gives 600 staff AI-powered data analytics tool
TBC Bank — TBC Bank, Georgia's largest bank, gives 600 employees direct access to company data through Genie, an AI-powered data analytics tool built on Databricks, returning answers in seconds instead of via disconnected on-premises SQL servers. Work once taking a month now moves far faster, reports shrank from 14 weeks to two days, and the analyst team fell by 50%. Most headquarters staff are expected to use this AI in banking tool daily.
DeploymentFinance & InsuranceSouth Africa4 Jun 2026
Nedbank hands small-loan decisions to Jumo's AI scoring engine
Nedbank — Nedbank's Quick Loans, short-term lending in the Money App, takes credit decisions from fintech Jumo's engine for AI credit scoring. Affordability checks run live on alternative financial data, with loans of R500 to R50,000 paid in as few as five minutes, for clients with thin or no credit bureau history too.
Bank ABB launches voice AI assistants AI-nur and AI-khan
Bank ABB — Bank ABB threw open AI-nur and AI-khan to the whole client base once trials wrapped, billing the duo as among the earliest voice-driven AI banking assistants in Azerbaijan and the wider region. Conversational banking has drawn 230k people and 2.5 million exchanges. The lender keeps 180 generative and predictive models in production, worth above 35 million AZN in positive impact on the bank's own count.
TD's agentic AI cuts mortgage pre-adjudication to three minutes
TD Bank Group — Canada's TD Bank Group has cut mortgage pre-adjudication times from 15 hours to under three minutes using an agentic AI model built by its Layer 6 unit. This agentic AI in mortgage underwriting also handles Home Equity Lines of Credit applications, drafting summary memos after joint work across TD's Global Technology & Solutions, data, Real Estate & Secured Lending and risk teams. The underwriting automation gain is an early internal estimate, unconfirmed by outside review.
DeploymentFinance & InsuranceSwitzerland18 May 2026
Zurich Insurance scales agentic AI underwriting to five countries
Zurich Insurance — Zurich Insurance runs agentic AI underwriting in five countries, including Switzerland, after a 90-day rollout with Cytora. Its AI risk digitisation platform converts unstructured, multilingual submissions into structured risk data, cutting triage from 75 minutes to 15 and lifting straight-through processing to 95%. Zurich plans expansion to over 20 markets within 16 months.
Heirs Insurance launches Prince AI to sell policies and track claims
Heirs Insurance Group — Heirs Insurance Group has introduced Prince AI, an AI insurance assistant answering queries in languages such as English, Yoruba, Igbo, Hausa, French and Chinese. On WhatsApp, the SimpleLife mobile app and the insurer's site, the generative AI handles policy purchases, renewals, and filing and tracking claims.
AYA SOMPO launches Myanmar's first insurance AI chatbot
AYA SOMPO Insurance — iVA, an Insurance Virtual Assistant from AYA SOMPO Insurance, is Myanmar's first AI chatbot insurance tool built into a mobile app, the firm says. Housed in the My AYASOMPO app, it answers product and policy questions in Myanmar and English with 24/7 real-time replies, no human needed. This AI-powered insurance assistant is meant to help partners and agents meet customer needs faster.
Capitec gives almost 5,000 staff AI tools and an agent for credit
Capitec Bank — Capitec Bank has equipped almost 5,000 employees with AI tools and runs agentic AI in credit processing for business banking, Capitec's 2026 integrated annual report says. Capitec Pulse AI, built in-house, feeds client support agents live client information, and generative AI now works in production for compliance. The bank says the rollout is well past the experimental stage.
Uniqa Hungary settles glass and burst-pipe claims with NiQA
Uniqa Biztosító Zrt. — Uniqa Biztosító Zrt. has widened NiQA, its AI claims handling platform, from burst pipes to glass damage, and artificial intelligence now touches one household claim in three in Hungary. Thorniest category first, with every notification the eventual ambition. Automated claims assessment has paid out inside 24 hours since mid-April, and Uniqa's own forecast puts most retail claims automated by 2028.
Evidence of adoptionFinance & InsuranceChina17 Apr 2026
More than half of Chinese banks have adopted large models
Shaqiu Think Tank — Shaqiu Think Tank's tracking report finds 53.5% of Chinese banks, more than half, now using large models in banking, with the sector shifting from tool-level uses to system-level rebuilding of processes. The report does not give its survey base.
CIMB Niaga deploys AI agents for its relationship managers
CIMB Niaga — CIMB Niaga has deployed AI agents for relationship managers, starting with a Relationship Manager AI Agent built with Google Cloud and Artefact as a strategic thought partner for bankers. A Contact Center AI Agent now also partners service teams live during customer calls; the bank's AI Center of Excellence developed both.
Scotiabank launches Scotia Intelligence across branches and contact centres
Scotiabank — Scotiabank has launched Scotia Intelligence, a unified enterprise platform that gives employees governed AI tools and the Scotia Navigator assistant for everyday work, custom assistants and AI-assisted coding. Branches and contact centres were early adopters of purpose-built tools; the bank says AI now handles over 40 per cent of contact-centre client queries and processes and routes about 90 per cent of commercial banking emails.
CMB Monaco becomes first European bank to deploy gen AI wealth tool
CMB Monaco — Monaco's CMB tops Europe in generative AI wealth management, merging its systems onto Avaloq and BlackRock Aladdin Wealth via their June 2023 alliance. Advisers now receive 'Auto Commentary', translating dense portfolio figures into brief written notes, while back-office corporate actions run through AI-led automation.
Starling Bank launches UK's first agentic AI financial assistant
Starling Bank — Starling Bank customers can now handle money tasks through Starling Assistant, billed as the UK's first agentic AI financial assistant for current account holders. Voice or natural language prompts let users set savings goals, arrange bill payments and get insights via this AI-powered banking assistant.
Nigeria's central bank writes AI into its anti-money-laundering rules
Central Bank of Nigeria — The Central Bank of Nigeria's baseline standards oblige banks, fintechs and payment firms to adopt automated anti-money-laundering systems, the bank's first AI AML rules. They favour automated risk scoring, anomaly detection and behavioural pattern recognition, demand at least yearly independent validation of machine-learning models and require explanations for every alert.
Tokio Marine puts AI across its whole contact centre workflow
Tokio Marine & Nichido Fire Insurance — Tokio Marine & Nichido Fire Insurance put AI contact centre tools across its customer and agency lines on a PKSHA Technology and CTC platform. PKSHA VoiceAgent captures callers' identity and purpose from natural speech before routing, Speech Insight provides live transcription and suggested answers for operators, and Knowledge Stream drafts knowledge-base entries afterwards. It expects up to about 30 per cent shorter handling on customer calls and about 10 per cent on agency calls, freeing operators for specialist work.
Cova puts AI pricing into Cameroon's compulsory motor insurance
Cova — Cova switched on AI motor insurance pricing for compulsory cover in Cameroon on 26 February 2026: film the vehicle's carte grise, or a lodging receipt, and the regulated tariff returns in one click, renewal premiums prepayable remotely. Reading fiscal horsepower, use and energy type off the document against the standing tariff grid cuts keying mistakes and compresses sign-up times, by Cova's own account. Collection runs through mobile payment aggregators Maviance, UFIPAY and MaMoni Pay, plus Express Union Microfinance and MaMoni Finances counters. Managing director Virginie Pouna Ngomi framed the automated premium quotation as cover simpler and more dependable, licensed brokers and partner insurers undisplaced; Cova holds a broker licence in the CIMA zone and came via the BimaLab Africa accelerator.
Britam settles minor motor claims in two hours with AI assessment
Britam General Insurance — Britam General Insurance settles light motor claims in two hours, against the industry's five working days, through AI claims assessment at Britam Centre's Nairobi drive-through. AI grades damage photos in about 15 minutes, an electronic claim form reaches the owner's handset and in-house checks take 30 minutes. Comprehensive motor policyholders qualify for AI-assessed claims.
SMBC opens a generative-AI voice operator on its Olive line
Sumitomo Mitsui Banking Corporation — Sumitomo Mitsui Banking Corporation started SMBC AI Operator, a generative AI call centre line with technology from the Japan Research Institute and IBM Japan, on 25 February 2026. 24/7 it takes free-speech calls on the Olive personal finance product's application steps, campaigns, annual fees and service content, answering from bank reference data and passing callers to a human operator for identity checks during call-centre hours. The voice operator adapts phrasing and tone to each caller's way of speaking.
Czech National Bank uses AI to sift 248 crypto licence applications
Czech National Bank — The Czech National Bank has granted the first six permits under the European MiCA regulation, out of 248 filings, leaning on AI in crypto-asset licensing for the paperwork. Software trialled in the bank's ČNB Lab innovation unit runs on hardware the bank owns; the machine review of licence files flags gaps, spots contradictions across papers and audits content. Jan Procházka stressed that granting or refusing a permit always rests with ČNB experts, technology acting only in support.
Raiffeisenbank gives Czech staff about 130 kinds of AI assistant
Raiffeisenbank — Raiffeisenbank staff can call on about 130 varieties of AI assistants for bank employees, chief executive Igor Vida said. An auditor part-way through an inspection, by the bank's own example, hands the findings over and gets back a finished report. Vida cast the workplace AI rollout as lifting output per head instead of shrinking headcount, backed by in-house teaching on digitalisation and these tools.
ANZ puts Salesforce AI agents in front of business bankers
ANZ — ANZ has put Salesforce's Agentforce 360, AI agents for business bankers, into its bankers' new customer relationship management tool, claiming to be the first Asia-Pacific bank to deploy it at scale. The nationally rolled-out, Agentforce-backed CRM replaces a legacy platform and merges data from 20 separate systems into one dashboard, cutting time bankers spend switching systems, ANZ says.
Congo's entrepreneurship guarantee fund launches an AI business-plan platform
Fonds de Garantie de l'Entrepreneuriat au Congo — The Fonds de Garantie de l'Entrepreneuriat au Congo opened Bokeli, an AI business-plan platform, at Kinshasa on 3 February 2026, aimed at micro, small and medium firms plus artisans lacking the security lenders usually want. Bokeli guides a founder through a bankable document with situational prompts and samples, inserts projections at a click, saves to PDF or Word, then pushes the file into the fund, where applicants watch its progress themselves until cash lands. Operations chief Ibrahim Ucircan said most submissions arrived in poor shape whatever province they came from. Director General Laurent Munzemba Kompa said the automated plan builder kills off gripes about sluggish handling.
Manulife's AI underwriting engine approves life policies in minutes
Manulife — Manulife has launched a redesigned e-application and upgraded MAUDE, its proprietary AI underwriting engine, that together auto-approve qualified life insurance applicants in as little as two minutes. Cases the engine cannot approve go to a human underwriter. By December, the chief underwriter said, 58 per cent of eligible cases were auto-approved through MAUDE, up 56 per cent on pre-launch levels.
Guernsey's finance regulator backs AI and writes no new rules
Guernsey Financial Services Commission — The Guernsey Financial Services Commission has issued a Policy Statement on the Use of Artificial Intelligence that openly welcomes AI in financial services — machine learning, large language models, plus agentic and generative systems — as a way to run leaner and shed paperwork. Because the Bailiwick supervises by principle, such technology already fits the regime in force: nobody needs prior sign-off or even a conversation with the Commission, and an AI build is treated no differently from any other technical or strategic undertaking under the Finance Sector Code of Corporate Governance and the Minimum Criteria for Licensing. Nothing bespoke accompanies this AI adoption stance — no rulebook, no guidance, no accreditation or certification standard. Where a firm is unsure how to proceed, the pointer is towards the NIST AI Risk Management Framework, ISO/IEC 42001 and the NCSC Guidelines.
DeploymentFinance & InsuranceSouth Korea25 Jan 2026
Bank of Korea puts its own AI system on the internal network
Bank of Korea — The Bank of Korea runs BOKI, an in-house AI system, on its internal business network, where staff dig through the bank's document archive, even reading tables and graphs from reports. Data never leaves the building, a design built with Naver Cloud after a late-2023 tie-up, reportedly making it the world's first central bank to build and run internal AI this way.
Commonwealth Bank's AI fraud agent cut losses by more than 20%
Commonwealth Bank of Australia's agentic AI fraud detection, built in-house in about three months, helped cut fraud losses more than 20% in the first half of its 2026 financial year year-on-year, the bank says. Watching over 80 million signals a day, the fraud agent helped create or update three-quarters of card-fraud rules, with human approval. James Roberts, general manager of fraud and scams, reported this in April 2026; no independent evaluation is published.
UK FCA launches AI Live Testing for firms to trial models
The UK Financial Conduct Authority's AI Live Testing is a voluntary supervisory service letting cohorts of about five to ten firms trial live AI proofs-of-concept with the regulator. Part of the FCA's AI Lab, it began in October 2025, with a second cohort from April 2026.
Evidence of impactFinance & InsuranceUnited States2026
US Treasury's Do Not Pay stopped $11.7 billion in fraud in 2025
The US Treasury's Do Not Pay prevented, detected or recovered a record US$11.7 billion in fraud and improper payments in FY2025, up 63% from US$7.2 billion in FY2024, across 614 million data-source queries. It complements the FY2024 machine-learning check-fraud figure, though FY2025 reporting does not separate the ML-only line.
CNA Canada deploys AI to speed insurance underwriting
CNA Insurance Canada — Select business lines at CNA Insurance Canada now run on mea Platform's Intelligent Underwriting AI, part of a November 2025 rollout the insurer plans to extend further, marking a fresh step in AI insurance underwriting. Structured and unstructured records feed the ingestion engine, which pulls out the data points needed for new business submissions without manual sorting. CNA credits the launch with fast turnaround and strong data accuracy, though that judgement comes from the company itself rather than an outside audit, underscoring the broader push toward AI-driven underwriting automation.
CIBC — CIBC switched on CRTeX (CIBC Real-Time Experience) nationwide on 16 October 2025, an AI-powered personalisation engine for banking built in-house. Near real-time decisions merge with customer preferences so the tool shapes offers across phone, app, website and branch contact. This AI-driven client engagement platform, tied into CIBC's existing systems, keeps the experience uniform.
RBC launches ATOM foundation model across the bank
Royal Bank of Canada — ATOM (Asynchronous Temporal Model), Royal Bank of Canada's proprietary foundation model, now powers credit adjudication and personalised Avion Rewards suggestions for 1.3 million monthly users, marking a live case of AI in corporate banking. The system draws on billions of client transactions through RBC's Lumina data platform. This machine learning in financial services rollout anchors RBC's targeted $700 million to $1 billion in AI-driven value by 2027.
TD launches generative AI assistant for TD Securities
TD Bank Group — TD Bank Group has piloted the TD Securities AI Virtual Assistant, a proprietary generative AI chatbot for institutional sales, trading and research staff answering clients faster. It uses retrieval-augmented generation and text-to-SQL to scan internal research documents, an AI virtual assistant in banking for internal workflows, not direct customer contact.
Securities professional, trader, research analystnewswire.ca
Markel Canada deploys agentic AI for insurance underwriting
Markel Canada — Markel's Canadian underwriters gain agentic AI for insurance underwriting under an expanded mea Platform deal, following London Wholesale's earlier rollout. Unstructured submission data becomes structured through the platform's agentic GenAI, sharpening decisions — a use some label agentic GenAI for underwriting.
JPMorgan's LLM Suite reaches more than 230,000 employees
JPMorgan Chase built LLM Suite, a secure in-house generative-AI platform for idea generation, drafting and summarising, and onboarded 200,000 employees within eight months of its mid-2024 launch; American Banker named it 2025 Innovation of the Year. The bank reports over 230,000 staff now use it worldwide, saving several hours a week.
Evidence of adoptionFinance & InsuranceUnited Kingdom2024
75% of UK financial services firms already use AI
The Bank of England and FCA's 2024 survey of 118 firms found 75% of UK financial services firms already using AI, up from 58% in 2022. Another 10% plan AI adoption within three years.
Evidence of impactFinance & InsuranceUnited States2024
AI helped the US Treasury recover $1 billion in check fraud
Machine-learning AI helped the US Treasury recover US$1 billion in fiscal year 2024 by detecting Treasury check fraud faster. The department's broader technology and data push stopped or clawed back a record US$4 billion in fraud and improper payments, versus US$652.7 million the previous year.
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