C-Suite Insights: Roadmap for AI in Financial Services

Picture Credit: by Enetget

At the Singapore FinTech Festival, a high-profile panel titled “C-Suite Insights: Roadmap for AI in Financial Services” brought together some of the finance industry’s most influential leaders to examine the rapidly evolving role of artificial intelligence within their organizations. Moderated by Kfir Godrich, Founder of mAIndfulness, the discussion featured Javier Pérez-Tasso, Chief Executive Officer of Swift; Tan Su Shan, Chief Executive Officer of DBS Bank; Craig Vosburg, Chief Services Officer of Mastercard; Yang Peng, Chief Executive Officer of Ant International; and Yoshihiro Hyakutome, Deputy President Executive Officer and Co-Head of the Global Banking Unit at Sumitomo Mitsui Banking Corporation (SMBC).

The conversation began with a focus on digital transformation, which the panelists agreed has become the foundation of modern financial services. Digital infrastructure is now the baseline for competitive parity, and with the declining cost of deploying AI-driven solutions, barriers to entry have fallen dramatically. This shift means that competition can emerge from unexpected sectors, and financial firms must find new ways to differentiate themselves. Beyond operational efficiency, success will depend on proprietary data, speed to market, and innovative business models that harness the full potential of AI.

Tan Su Shan emphasized that the industry is moving beyond automating routine operations to embedding AI at the very core of business strategy. She stressed that technology, security, and trust are inseparable, noting that the sustainability of financial institutions depends on robust governance and resilient systems. For banks, the ultimate goal is not only to streamline operations but also to preserve client trust and ensure secure digital environments as more engagement shifts online. Yang Peng illustrated this point with Ant International’s Falcon TST time series model, which has been open-sourced and now processes over 60 percent of the company’s global financial transactions. The model enables accurate liquidity forecasting and significant cost savings, while advanced fraud detection systems have already reduced security incidents, demonstrating AI’s immediate impact on efficiency and risk management.

For the corporate sector, Yoshihiro Hyakutome described the emergence of “CFO agents”; AI-powered assistants designed to support enterprise financial decision-making. These agents aggregate and interpret company-specific data to provide actionable insights, while ethical standards and transparent auditing remain essential for trust and regulatory compliance. Craig Vosburg highlighted Mastercard’s investments in agentic commerce, where autonomous digital agents are poised to transform purchasing, authentication, and dispute management for both businesses and consumers. He underscored the company’s commitment to safety, agent authentication, and auditability, already evident in Mastercard’s agent-pay initiatives.

Picture Credit: by Techfunnel

Cybersecurity was a recurring theme throughout the discussion. The panel acknowledged that as AI adoption accelerates, so too does the sophistication of cyber threats, including fraud schemes powered by generative AI. Financial institutions must now employ AI not only to predict but also to detect fraud quickly, using continuous anomaly monitoring and parallel model systems. Ensuring resilience in a landscape of interconnected microservices and third-party vendors requires thorough contingency planning and robust defensive strategies.

The human dimension was also central to the conversation. Panelists agreed that workforce transformation is as critical as technological innovation. Upskilling employees to collaborate effectively with AI, fostering a culture of continuous learning, and introducing AI-driven advisors, including executive “avatars”, were highlighted as ways to help staff navigate a future where AI is a co-worker rather than a mere tool. This approach ensures that human talent remains empowered even as automation reshapes the industry.

The discussion concluded with a strong emphasis on global standards, privacy-preserving data practices, and collaboration across both public and private sectors. Javier Pérez-Tasso stressed the importance of interoperability and standard-setting, while representatives from Ant International and Mastercard reaffirmed commitments to inclusion, sustained innovation, and maintaining a human-centric approach. Collectively, the panel delivered a clear message: the future of financial services will belong to those who can deploy AI securely, ethically, and at scale, while never losing sight of trust, resilience, and the indispensable role of people in finance.