From answer to act: the next phase of Artificial Intelligence (AI) in banking and financial services

2026-07-09 · Source: Everest Group Research Portal · Field: Finance & Economics — Banking & Financial Services, FinTech & Digital Financial Services, Artificial Intelligence & Machine Learning · Depth: Intermediate, medium

Summary

Recent strategic moves by Temenos, FIS, and Backbase indicate a significant shift in banking technology, with AI orchestration emerging as the next strategic control point. Temenos acquired additiv, FIS partnered with InvestCloud for an AI-powered advisor workspace, and Backbase acquired Kasisto, an early pioneer in conversational AI for banking. These transactions position providers for the "Act" phase of AI evolution, moving beyond "Answer" (automation) and "Anticipate" (augmentation) to orchestrate end-to-end journeys. This new AI orchestration layer connects customer intent, enterprise data, workflows, policies, and execution, resembling an operating system for banking. While these firms originate from different parts of the technology stack, they are converging to own this critical layer. Acquisitions are driven by the need for domain intelligence, workflow expertise, and speed, as AI technology matures and financial institutions seek unified platforms without large-scale replacements.

Key takeaway

For CIOs and technology leaders evaluating AI strategies, recognize that the banking technology market is consolidating around AI orchestration. You should carefully assess the strategic implications of platform concentration, considering long-term flexibility, interoperability, and provider dependency. Prioritize platforms that can unify fragmented AI deployments and offer advanced capabilities without requiring full system replacements. This approach mitigates risk while positioning your institution for the "Act" phase of AI.

Key insights

AI orchestration is the new strategic control point in banking, unifying customer intent with enterprise execution.

Principles

• AI in banking is a strategic platform question.
• Value shifts to the orchestration layer.
• Domain intelligence and speed drive acquisitions.

In practice

• Evaluate platform providers' orchestration capabilities.
• Assess platform concentration's long-term implications.
• SIs must build practices for new combined platforms.

Topics

• AI in Banking
• AI Orchestration
• Financial Services Technology
• Banking Platforms
• Agentic AI
• Strategic Acquisitions

Best for: Investor, Executive, AI Architect, Director of AI/ML, VP of Engineering/Data, CTO

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Editorial summary, takeaway, and curation by AIssential. Original article published by Everest Group Research Portal.