The number of UK banks investing in technologies such as VR and AR in preparation for entering the Metaverse dropped by nearly a third in the past year. More than half of UK banks were investing in these technologies 12 months ago, compared to just 38% in 2023, according to a survey of 150 UK banking executives conducted by Censuswide for Hexaware Mobiquity.
Asked which emerging technologies and tools they’re engaging with as a priority, almost a quarter cite cybersecurity, with 22% pointing to cloud and 21% highlighting Open Banking APIs.
However, the research shows that UK banks are lagging behind the rest of the world on Generative AI adoption, with just 13% of them engaging with ChatGPT, compared to 19% of global banks.
Meanwhile, 41% of UK banks are developing data visualisation tools to improve stakeholder engagement and understanding of ESG risks and opportunities and 37% are using machine learning and AI to identify and track ESG risks and opportunities.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
