Is AI The 'Wingman' Data Needed?
During EBAday in Copenhagen, Lauran Macare, Head of Data and Risk at Payments Technology at Natwest, discussed the role of AI in advancing payments innovation. She referred to AI as the 'wingman' that data requires to enhance its relevance in payment strategies, emphasizing the need for practical applications and cyber resilience as key drivers of change.
Macare noted that the industry is leveraging data to foster collaboration among stakeholders, moving away from previous siloed operations. This collective approach aims to identify mutual benefits and optimize the overall effectiveness of payment systems, a shift that's becoming critical as financial technologies evolve rapidly.
Key takeaways
- ▸Lauran Macare highlighted the importance of AI in payments at EBAday, describing it as a necessary partner for data.
- ▸Cyber resilience is identified as a vital factor driving innovation within the payments sector.
- ▸Macare pointed out that collaboration is increasing as data helps unify stakeholders who previously operated in silos.
Why this matters
This discourse underscores a broader trend where financial institutions are recognizing the synergy between AI and data in strengthening payment systems. As firms like Natwest prioritize cyber resilience alongside technological innovation, it may redefine competitive dynamics, pushing others to adapt or risk falling behind in customer service and security standards.
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