Generative AI Is Revolutionizing the Financial Experience
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Generative AI (GenAI) has evolved from experimental to essential—now driving revenue, efficiency, and customer satisfaction across banking, fintech, and insurance. In 2025, various industry reports anticipate this will be the year when institutions move from pilots to enterprise-scale deployment.
According to McKinsey’s report, "The economic potential of generative AI: The next productivity frontier across the banking industry," AI could deliver $200 billion to $340 billion in annual value if fully implemented across key use cases.
Deloitte’s “2025 Banking and Capital Markets Outlook”, referencing a 2024 Citigroup report, notes that AI could push global banking profits to $2 trillion by 2028, a 9% increase over five years.
Why Now? Three Forces Accelerating GenAI in Financial Services
1. Mass Adoption and Maturing Use Cases
In our experience, GenAI adoption is growing steadily in business functions—with financial services among the fastest to institutionalize its use.
2. Tangible ROI
Our clients are reporting productivity gains by integrating GenAI into operational workflows and customer interactions.
3. Secure, Scalable Platforms
Managed services like Amazon Bedrock allow teams to choose and customize foundational models with built-in security, privacy, and compliance controls, lowering both regulatory and risk-related barriers.
Where GenAI Delivers the Most Value
🔹 Hyper-Personalized Banking Experiences & AI Assistants
GenAI enables contextual conversations and product recommendations across digital and in-branch channels. Using Amazon Bedrock, tools like RAG (Knowledge Bases) and Agents for Bedrock integrate proprietary bank data (e.g., segmentation, eligibility, pricing) and trigger secure actions (like initiating pre-approvals)—all within the bank’s secure perimeter.
🔹 Back Office Productivity
In insurance and corporate banking, internal copilots summarize documents, draft emails, and prepare files. Generative AI and similar technologies can now automate 60–70% of employee work time, a significant leap from the previous 50% estimates. This is largely thanks to GenAI’s enhanced natural language understanding, which impacts around 25% of all work tasks.
GenAI delivers virtual subject matter expertise, supporting staff with deep, always-on technical knowledge. By leveraging internal data, it improves customer experience, reduces back-office costs, and enables proactive monitoring and instant data access.
2025 is expected to mark the shift from GenAI pilots to scaling across engineering, customer service, and fraud detection.
🔹 Fraud Detection & Prevention
Combining GenAI with traditional ML accelerates contextual case analysis and strategy design. Bedrock integrates with monitoring tools like CloudWatch and CloudTrail for traceability and auditability.
🔹 Financial Document Automation & Onboarding
Foundational Models can extract and structure data from financial statements, invoices, and contracts (via prompts or extraction tools), reducing both errors and processing time in origination and underwriting.
🔹 Risk Management
In banking, GenAI enhances existing AI systems by automating low-value tasks in risk management such as reporting, regulatory monitoring, and data collection.
Generative AI in Financial Services: Key Considerations
Deploying GenAI in financial environments offers high impact—but also requires careful navigation of key challenges:
🔐 Regulatory Landscape
Regulatory oversight varies across financial domains—from relatively low in client interactions to very strict in areas like credit risk scoring. GenAI must align with each level’s specific compliance requirements.
👥 End-User Dynamics
Successful adoption depends on understanding the varying expectations and AI familiarity of users—from internal teams to high-net-worth clients.
🤖 Automation Intent
Define whether you aim for near-autonomous agents using APIs or human-in-the-loop copilots supporting staff during real-time interactions.
📊 Data Governance
Set clear data boundaries. Public data may be broadly usable, but sensitive and identifiable customer data must be strictly governed to ensure privacy and security.
AI and GenAI introduce new challenges—bias, lack of transparency, intellectual property issues, and privacy risks. A trusted, secure AI framework ensures that models are fair, transparent, safe, accountable, and privacy-respecting.
Success Story from Puerto Rico: Alchavo × Switch × AWS
For Alchavo, a leading accounting platform in Puerto Rico, we developed an intelligent invoice processing system using AWS and Amazon Bedrock.
The Results:
- 2,000+ hours saved
- 12× faster processing (from 6 minutes to ~20 seconds)
- Scalable growth without increasing operational costs
The impact: increased operational productivity and scalability for the business.
Want to learn more? Read the full case study on our website.
Our Approach: Studios to Accelerate and Govern GenAI
At Switch, we work through a network of specialized Studios—including Data, AI & ML; Cloud & DevOps; UX; Engineering; QA; Mobile; ServiceNow; and Cybersecurity—which we tailor to each use case.
For us, AI is cross-functional:
- Our Innovation team defines the case and measures value
- Cloud & DevOps ensures scalability and cost efficiency
- UX designs the experience
- Cybersecurity and Engineering ensure governance and secure workflows end to end
Our Roadmap for GenAI Adoption
- Value Discovery
Identify 2–3 high-impact use cases; map data and regulatory needs. - Proof of Concept
Build a minimal, guided pilot with clear success metrics and guardrails. - Full Implementation
Once business impact is validated, we deploy an integrated solution across workflows, channels, monitoring tools, and with a clear scale-up plan.
At Switch, our Studio-driven approach brings together specialized teams—spanning Data, AI, Cloud, Cybersecurity, and more—to deliver end-to-end GenAI solutions. We guide clients from early-stage value discovery and fast PoCs to enterprise implementation, ensuring measurable outcomes—as demonstrated in the Alchavo case.
By partnering with AWS to provide a secure, scalable foundation, we believe GenAI will redefine financial services—enhancing customer experience, accelerating operations, and strengthening compliance.
Contact us today to learn more or explore a complimentary PoC for your organization.