London, UK – 13 March 2025 – NTT DATA UK&I, a global leader in digital business and IT services, has today published its Banking Trends 2025 report – outlining 14 dynamics exerting pressure on, and creating opportunities for, banking and financial services providers around the world.
Sumant Kumar, NTT DATA’s Chief Technology Officer for Banking and Financial Markets UK – and one of the report’s authors, along with senior leaders from North America, Europe and Japan – highlighted three of these dynamics as particularly relevant within the UK: the search for resilience; action against financial exclusion; and the potential to transform banking operations with GenAI technologies.
“In these turbulent times, banks must embed resilience and security at the heart of their systems and services,” he said. “Cyber crime continues to rise, as does the threat of cyber attacks by hostile powers – increasing the risks facing financial service providers.
“Meanwhile, regulations and growing public awareness of these dangers are expanding the penalties for failure. The UK’s new Authorised Push Payment fraud reimbursement protections, for example, require banks to share risks and recompense fraud victims rapidly. And when Chair of the Treasury Select Committee Meg Hillier MP wrote to the chief executives of all the major banks on 10 February[1], it illustrated the fact that banks’ ability to serve and protect their customers is increasingly a subject of public scrutiny.”
Kumar commented that GenAI can help banks improve resilience and security.
“GenAI can inform people’s decision-making, helping them to identify fraudulent activity and cyber threats; and it can take on routine transactions, freeing staff up for higher-value work,” he said. “In a complex and highly-regulated industry handling people’s incomes and savings, adoption of GenAI is rightly gradual and cautious – but we’re finding that an intelligent approach using carefully-constructed GenAI models can generate major efficiencies while reducing risk. NTT DATA is enthusiastic about AI technologies, but we are utterly committed to deploying them ethically, safely, and in ways that protect both our clients and the wider public."
According to NTT DATA’s research[2], 53% of banking decision-makers already regard GenAI as highly effective in fraud prevention, while another 38% find it somewhat effective and are planning to expand its use. Over one third (37%) of global banks are focussed on using GenAI to streamline payments operations, addressing challenges such as inefficient payment systems and financial inclusion.
Third, Kumar highlighted the report’s chapter on ‘Banking for all and purpose-led finance.
“At the heart of NTT DATA’s values is our commitment to working towards a more affluent and harmonious society,” he said. “In banking, that means serving all segments of the population equally – including the most disadvantaged – and working towards environmentally sustainable financial services and models. Digital technologies can help enormously on both fronts. User experience and personalisation practices can help tailor services, products and advice around the needs of financially excluded people, for example. And data analytics can provide investors, financial service providers, and their clients and customers with the insights required to realise environmental, social and governance goals.”
The report is available here.