Five ways that AI could be reshaping your relationship with money

2026-02-19 · Source: Artificial intelligence (AI) – The Conversation · Field: Finance & Economics — FinTech & Digital Financial Services, Banking & Financial Services, Economic Analysis & Policy · Depth: Novice, quick

Summary

The financial industry is undergoing a significant transformation driven by AI and new data access regulations, moving towards a cashless and open banking ecosystem. Regulations like the EU's PSD2 and the UK's CMA9 order mandate banks to share customer data with fintech firms, shifting from a closed banking model to one where customers can share their financial data with third-party apps. This enables fintechs, which are often more agile and tech-savvy, to offer specialized customer solutions and enhanced experiences. A 2025 report indicates that 80% of fintechs are implementing AI, leading to innovations such as intelligent credit scoring, debt rehabilitation services, automated savings trackers, account aggregation, and predictive finance. These advancements aim to make finance more inclusive by offering personalized services and improving financial resilience, but they also introduce risks like increased security vulnerabilities, automated profiling, and potential erosion of trust, necessitating transparent regulations.

Key takeaway

For CTOs and VPs of Engineering evaluating fintech partnerships or AI integration, recognize that open banking mandates a shift towards collaborative ecosystems. Your teams should prioritize robust data security and transparent regulatory compliance when developing or integrating AI-driven financial services to mitigate risks like fraud and privacy invasion, ensuring customer trust remains central to innovation.

Key insights

Open banking and AI are transforming finance, enabling personalized services but introducing new risks.

Principles

• Open banking fosters innovation.
• AI personalizes financial services.
• Data sharing requires robust regulation.

Method

Fintechs leverage open banking data and AI to develop specialized services, moving beyond traditional bank offerings. This includes analyzing customer behavior for personalized recommendations and automating financial management tasks.

In practice

• Implement AI for fairer credit scoring.
• Offer automated savings and debt tracking.
• Provide aggregated financial views.

Topics

• Open Banking
• Financial AI
• Fintech Services
• Financial Regulation
• Data Privacy

Best for: CTO, VP of Engineering/Data, Director of AI/ML, AI Product Manager, Business Analyst, General Interest

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Editorial summary, takeaway, and curation by AIssential. Original article published by Artificial intelligence (AI) – The Conversation.