AI agents are set to transform financial services by taking over tasks people currently do while enabling entirely new services, creating both challenges and opportunities for established banks and fintechs alike.
• In The Pocket has evolved from a mobile app developer at the dawn of smartphones to a 200-person European digital product studio with a significant focus on AI strategy
• Financial institutions must decide how to approach "agent experience" as consumers increasingly interact with their services through AI assistants
• The speed of AI development means companies can't afford to wait and see, with hallucinations and high operational costs being the primary challenges
• Customer support represents the most promising immediate application for AI in financial services due to its text-based, repetitive nature
• Smaller fintechs currently have an advantage as they can manage the high costs of running sophisticated AI models across a smaller user base
• Well-structured data remains crucial for effective AI implementation, though future models may become better at working with unstructured information
For any questions about implementing AI and agents in your financial organization, reach out to In The Pocket's cross-disciplinary team that brings together design, technology, and strategy.

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Koen Vanderhoydonk
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#FinTech #RegTech #Scaleup #WealthTech