The financial sector is entering a major period of transformation as artificial intelligence, embedded finance and digital platforms reshape how people and businesses access, manage and use financial services. At AIM Congress 2026 in Dubai, the session “Who Owns the Future of Finance? Banks, Digital Platforms or AI?” brought together financial services and technology leaders to examine how these forces will shape the next generation of finance.
Rather than viewing the future as a simple contest between traditional banks and technology companies, the discussion focused on how banks, digital platforms and AI could increasingly coexist, compete and collaborate.
Banks Face a New Digital Reality
Banks continue to play a central role in the financial system, particularly through their expertise in regulated financial services, risk management, customer relationships and financial infrastructure.
However, the expectations of customers are changing. Consumers increasingly expect financial services to be accessible through digital channels, integrated into everyday activities and delivered with greater speed and convenience.
For traditional financial institutions, this creates an opportunity to rethink how banking services are designed and delivered. AI can support banks in areas such as customer service, operational efficiency, risk analysis and personalised financial experiences, while digital platforms can provide new channels for reaching customers.
The future role of banks may therefore depend increasingly on their ability to combine institutional trust with technological adaptability.
Digital Platforms Expand Access to Finance
Digital platforms are changing the relationship between customers and financial service providers. Payments, lending, financial management and other services can increasingly be incorporated into platforms that customers already use.
This development is particularly important for financial inclusion and access. Digital platforms can reduce friction in accessing services and create more connected customer experiences.
The presence of Vibhor Mundhada, Chief Executive Officer of NEOPAY, reflected the growing importance of digital payments and payment infrastructure within this transformation. As digital transactions become more deeply integrated into commerce and everyday life, payment platforms are becoming an important part of the broader financial ecosystem.
AI Moves From Automation to Intelligence
Artificial intelligence represents another major shift in financial services.
AI is increasingly being considered not simply as a tool for automating repetitive processes, but as an enabler of more intelligent and personalised financial services. Financial institutions can potentially use AI to analyse large volumes of information, identify patterns, improve decision making and provide more relevant customer experiences.
Gregory Johnson, Vice President of AI/ML Product Management at JPMorgan Chase & Co., brought an AI and machine learning perspective to a discussion centred on the future of financial services.
The key challenge is ensuring that AI adoption develops alongside appropriate governance, security, transparency and human oversight. In finance, where decisions can have significant consequences for individuals and businesses, technological capability must be matched by responsible implementation.
Competition and Collaboration Will Define the Ecosystem
One of the central questions for the financial sector is whether banks and technology platforms will compete directly or develop deeper partnerships.
The answer is likely to involve both.
Banks possess established customer relationships, financial expertise and regulatory infrastructure. Fintech companies and digital platforms can bring speed, specialised technology and new approaches to customer engagement. AI adds another layer of capability that can potentially benefit both sides.
This creates opportunities for partnerships in areas such as payments, digital banking, financial data, customer experience, fraud prevention and intelligent financial management.
For emerging markets, these partnerships could be particularly significant because digital infrastructure can help expand access to financial services without relying entirely on traditional models of physical banking.
Emerging Markets Have an Important Role
The participation of Clement Yuyun, Deputy General Manager of Union Bank of Cameroon, added an important emerging market perspective to the conversation.
Across Africa and other developing markets, financial technology can play a significant role in expanding access, improving payment systems and connecting individuals and businesses with formal financial services.
The combination of banking infrastructure, fintech innovation and AI could allow markets to develop financial systems that are more digital, accessible and responsive to changing customer needs.
This also reinforces the importance of building technology infrastructure and regulatory frameworks that allow innovation to develop responsibly.
A More Personalised Financial Future
Purvi Munot, CEO of Sav, also contributed to a panel that examined the changing relationship between technology and financial services.
Personalisation is becoming increasingly important as customers expect services that understand their individual circumstances and needs. AI can support this evolution by helping financial providers process information and deliver more targeted experiences.
The opportunity is not simply to make finance faster. It is to make financial services more relevant, accessible and useful.
The Future Is Likely to Be Collaborative
The question of who will own the future of finance may ultimately have a more complex answer than banks, platforms or AI.
The emerging financial ecosystem is likely to combine all three.
Banks can provide trust, financial infrastructure and regulatory expertise. Digital platforms can improve accessibility and customer engagement. AI can provide intelligence, automation and personalisation.
The institutions that succeed in this environment will likely be those that can combine these capabilities effectively while maintaining customer trust and responsible governance.
At AIM Congress 2026, the discussion highlighted a financial future shaped not by one dominant technology or institution, but by the interaction between established financial institutions, digital innovators and intelligent technologies. For banks, fintech companies, investors and policymakers, that interaction is becoming one of the defining questions of the next generation of finance.
