How Is AI orchestrating the post-Covid19 banking revolution?

Artificial Intelligence has orchestrated a world many businesses would deemed impossible pre-Covid. Contactless, seamless, humanless, secure transactions that were made possible with agile, flexible and innovative adaptations to survive – and thrive.

Fintech startups have always been touted as the most successful unicorns. And they delivered during lockdowns.  Yet, their struggle to shake off the risks associated with security, privacy, money laundering, identity thefts still remain.

Thus, given the faith people have in traditional banks, and with the new start-ups that spring boarded in the pandemic, are we seeing a new model evolve in the finance sector? One in which challenger banks and established banks co-exist but with distinct value proposition? What role will AI play in this?