1105. Insights: Who owns the banking relationship in the AI era?

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Kate Moody (1:15)

Welcome to Fintech Insider Insights. I'm Kate Moody, Customer Strategy Director at 11FS. This episode is brought to you in partnership with Personetics, the AI Cognitive Banking Platform. For years, banks have competed to become the primary place customers manage their financial lives, but AI could fundamentally change what primary means. Consumers are increasingly turning to general purpose AI for information, recommendations and decision making, and financial services are becoming part of that relationship too. ChatGPT now allows US users to connect financial accounts and ask questions grounded in their financial data, while both OpenAI and Anthropic are moving deeper to financial services with dedicated offerings for the industry.

So if I increasingly turn to an AI assistant to understand my spending, plan a purchase, or decide what to do with my money, who actually owns that financial relationship? The bank might still hold my account to move my money, but another platform could increasingly become the place where I understand it and make decisions about it. Banks potentially have an advantage, years of financial behavior and customer context combined with trust and the regulated ability to act. The question is whether they can turn that advantage into something customers genuinely experience.

On today's Fintech Insider Insights, we're asking who owns the banking relationship in the AI era?

To help us unpack it, I'm joined by a brilliant panel. First up, we've joined by Udi Ziv, CEO of Personetics. Udi, massive welcome to the show. Again, if you wouldn't mind introducing yourself to our listeners, maybe a bit about Personetics as well, please. That'd be great.

Udi Ziv (2:43)

Absolutely. Thank you for having me.

So Udi Ziv, 35 years of tech executive career, from co-founding my own company, selling it successfully to having large organizations within larger tech. In the last 11 years, I guess, I enjoy working with financial services, and last three of which, lucky to be CEO of Personetics, and maybe a bit about Personetics, we're the AI economy banking platform, which basically means the ability to have customer data, transactional data, and behavioral data converted into meaningful contextual interactions consistently across all channels, driving significant business value across four dimensions for the banks. Business growth, retention, and primacy, operational efficiency, and customer engagement. At the end of the day, what the platform does is it orchestrates a relationship, which in our view is the most important thing.

Kate Moody (3:47)

Awesome. We're absolutely looking forward to your perspectives as we move through the show, so thanks very much for joining us.

Also joining us, we have returned to the show for Megan Caywood, CEO of Caywood. Megan, always great to have you back. Again, maybe if anyone's not listened for a little while or is new to the show, would you mind introducing yourself and Caywood, please?

Megan Caywood (4:05)

Yeah, of course. My background is all in fintech and banking. I moved over to the UK about a decade ago to help start Starling Bank, who was their Chief Platform Officer, then was at Barclays, is their Chief Product Officer for about half a decade, and now have an agentic AI firm that creates B2B, agentic offerings for banks and have really turned my focus within financial technology to the agentic AI side. So this conversation is everything I love talking about. So it's great to be back with you again.

Kate Moody (4:31)

Fantastic. Yeah, thanks for taking the time. Also looking forward to picking your brain as well.

Last but absolutely not least is a warm welcome again to the show to Ron Shevlin, Chief Research Officer at Cornerstone Advisors. Ron, always great to have you on the show. Again, maybe for any listeners who haven't come across you, I'm not sure how, but if they haven't come across you, wouldn't mind introducing yourself and your work, Cornerstone, please.