Photo by Towfiqu barbhuiya on Unsplash

Finance executives unveil 3 business growth generators in the industry

Firms are embracing emerging banking models but showing reluctance towards AI adoption.

Executives expect Banking as a Service (Baas), embedded finance (76%), and green lending (81%) to provide finance firms growth and additional revenue next year.

According to Finastra, 80% of executives also agree that focusing on ESG and sustainability will be the next big disruptor in the sector. 

Whilst firms are embracing emerging banking models, they are reluctant towards AI adoption.

Data from Finastra showed that only 30% of financial institutions have improved or deployed AI technology in the last 12 months, compared to 41% in 2022.

This caution extends to generative AI. Whilst 81% of financial institutions are at least interested in the technology, only 16% have started rolling it out, the lowest proportion globally and less than half of those in Hong Kong (38%).

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!