Helping you make sense of going Cashless | Best-selling author of "Cashless" and "Innovation Lab Excellence" | Consultant | Speaker | Top media source on China's CBDC, the digital yuan | China AI and tech

As a best-selling author and consultant, I combine my passion for fintech, AI, and innovation with my extensive experience in the banking industry and the Asian market. I wrote two No. 1 international bestsellers, "Cashless: China's Digital Currency Revolution" and "Innovation Lab Excellence," that provide insights, strategies, and practical solutions for the digital transformation of the financial sector. I have also been a top media source and speaker on China's digital yuan and mobile payments, sharing my firsthand knowledge and analysis of the world's most advanced cashless society.

With over 25 years of experience in risk management, structured credit, and debt financing, I deeply understand fintech and AI's challenges and opportunities for the banking industry. I have worked with start-ups and established insurance and asset management players, helping them navigate the uncharted waters of the latest cognitive, AI, blockchain, and analytic technologies. I have also led and contributed to multiple innovation labs and projects across Asia, applying the latest IBM technologies to real-world problems our banking clients face. I am a tireless evangelist for using technology to democratize access to financial markets and to enhance customer experience and value.

Richard Turrin

Accenture sees six trends that are rewriting banking’s future and contributing to “unconstrained banking,” where digital assets, new business models, and accelerated decision-making enable banks to do more than ever if they’re fast enough.

I give tremendous credit to Accenture for the best banking trends report I’ve seen so far this year!

Accenture backs up every trend with statistics that are designed to make even the most conservative banker sit bolt upright in panic.

Whether banks can move fast enough is the question, and Accenture’s advice on “what to do” is, on occasion, insipid and doesn’t do justice to the magnitude of the effort required. 

My take is that banks are in trouble. 

Banks are universally recognized as poor technology adopters, and virtually every one of these six requires banks to “move fast and break things.” 

When is the last time you saw a bank do that? 

While a few of these trends might be plausible for a bank to manage, it’s hard to imagine all but a few of the most tech-adroit running meaningful programs in all six! 

That leaves us with only digital money, agentic AI, and legacy tech as the three that banks will absolutely be forced to deal with in 2026. 

These six read like a death sentence for slow banks. 

Can they pull it off before running out of time?

👉 The Top Six

1️⃣ Dumb money gets smarter 
Adopting stablecoins, CBDC, and tokenized deposits.

2️⃣ Banking everywhere it matters 
GenAI assistants.

3️⃣ Agentic AI shatters traditional capacity barriers
Digital human-agent teams

4️⃣ The high cost of low cost 
Upgrade legacy tech.

5️⃣ Risk: Seeing the big picture beyond the pixels  
Integrated risk management. (Yawn, I read this every other year.) 

6️⃣ The battle for the balance sheet intensifies 
The very real threat from fintech, stablecoin, and private credit.


♻️Repost to share this great bank trends report
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The Top 6 Tech Bank Trends – If They Don't Run Out of Time

🚨 2025 Top 10 — No. 1 🚨 Mastering AI Agents: A comprehensive guide for evaluating AI agents

Want to learn how to build AI agents that tell the truth? Read on to learn more about 2025's hottest topic from a great e-book! 

👉Why this report is No. 1, and matters in 2026:

↳ Learning about AI Agents is your No. 1 priority in 2026!
↳ This eBook is a solid read for beginners and more advanced practitioners.
↳ Save this post for future reference.  What is stopping you from diving in?
↳ I'm back from holiday and writing NEW content tomorrow!!

From the author: 

"This e-book aims to be your go-to guide for all things AI agents. If you’re a leader looking to guide your company to build successful agentic applications, this e-book can serve as a great guide to get you started. 

We also explore approaches to measuring how well your AI agents perform, as well as common pitfalls you may encounter when designing, measuring, and improving them.

We hope this book will be a great stepping stone in your journey to build trustworthy agentic systems."

👉The book is divided into five chapters:

🔹 Chapter 1 introduces AI agents, their optimal applications, and scenarios where they might be excessive. It covers various agent types and includes three real-world use cases
to illustrate their potential.

🔹 Chapter 2 details three frameworks—LangGraph, Autogen, and CrewAI—with evaluation criteria to help choose the best fit. It ends with case studies of companies using these
frameworks for specific AI tasks.

🔹 Chapter 3 explores the evaluation of an AI agent through a step-by-step example of a finance research agent.

🔹 Chapter 4 explores how to measure agent performance across systems, task completion, quality control, and tool interaction, supported by five detailed use cases.

🔹 Chapter 5 addresses why many AI agents fail and offers practical solutions for successful AI deployment.

♻️Repost to share this important read on AI Agents
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Mastering AI Agents eBook

🚨 2025 Top 10 — No. 2 🚨  The Future of Mobile Banking: The Top 18 Trends for 2025

This is a page-turner and fun read that will help show you the killer features your mobile banking app should have now. 

👉Why this report is No. 2, and matters in 2026:

↳ The real examples in this report are a great way for banks to focus on what is possible in 2026!
↳ Banks need more than excuses when confronted with features that are real and available elsewhere. 
↳ What is stopping your bank from offering these cutting-edge features, and are any of them enough to make you switch? 

What makes this report such a page-turner is that it includes two real examples currently in production for each of the 18 trends. 

This report isn't about daydreaming about what we might have in the future, but rather demonstrates what we should have and can have if more banks cared about mobile users.

What bothers me most after reading this is that I'm paying several banks for their services, and the apps they force me to use are outdated junk! 

It isn't just me who feels that way, 69% of users think their bank app lags behind!

👉 Why mobile banking matters: 

🔹 3.8 billion users will rely on mobile banking in 2025.

🔹 62% of consumers use banking apps daily.

🔹 78% of users log on to banking apps at least once a week.

🔹 86% of users now prefer a single app to handle everything from managing loans and tracking expenses to booking travel and entertainment.

🔹 53% of consumers report that mobile banking increases their financial awareness. Younger generations, particularly Gen Z and Millennials, are leading adopters of features like credit monitoring, budgeting, and savings tools.

🔹 64% of consumers research a bank's tech offerings before committing to services.

Will reports like this make your bank act and update its app? 

♻️Repost to share this stunning report on what is possible in banking apps now! 
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The Future of Mobile Banking

🚨Top 2026 Trends, No. 3🚨: Tokenization will be big in 2026, JP Morgan recently launched its first tokenized money market fund (MMF), “MONY” on the public Ethereum blockchain in what is likely to be a model for others to follow. 

What makes this noteworthy is that JPM is the first of the largest systemically critical banks to issue tokenized funds, meaning more will follow. 

JPM follows asset managers BlackRock, Franklin Templeton, and Fidelity in issuing MMFs. 

MONY can be purchased only by institutional investors with USDC, and offers faster settlement times, around-the-clock trading, and real-time visibility into ownership.

↳ The trend is clear: the dollar has been tokenized through stablecoins, and assets will soon follow. 

↳Tokenization of “real world assets” (RWAs) has grown to $19 billion from $5 billion in a year, according to the more optimistic views of crypto proponent, RWA.xyz data.  

↳Estimates of the future potential of RWA tokenization range from McKinsey’s low of $2 trillion to “the sky is the limit.”  

What is clear is that this transition will not happen overnight, with the need to adapt tokenization to meet securities regulations being the most pressing issue.  

The Broadridge Tokenization Survey earlier this year showed how, among early tokenization adopters, 65% fear regulatory risk, and among future adopters rises to a lofty 78%. (below)

Tokenization also faces another problem in that it impacts the profits of investment banks, broker-dealers, and asset servicers. (below) 

No matter how good tokenization is from a technical perspective, expecting these institutions to welcome blowing up their existing business model is a stretch.

Still, the trend towards tokenization is inevitable, and while it might take longer than we want, it will become very real in 2026. 

♻️Repost to share this great read on tokenization!
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JPM Shows How Tokenization Is Going Mainstream in 2026

Quantum computers are coming — and within the next decade, they could break the public-key encryption (RSA, ECC) protecting bank transactions, crypto, and more.

Citigroup calls it a trillion-dollar threat — and they’re not exaggerating.

The real danger: “Q-Day” (when quantum breaks current crypto) and “Harvest Now, Decrypt Later” attacks — adversaries are already stealing encrypted data today for future decryption.

Long-shelf-life data is most at risk: SSNs, biometrics, medical records, IP, and blockchain-exposed crypto addresses (25% of Bitcoin, 65%+ of Ethereum vulnerable).

HNDL makes data leaked onto the dark web today, which may not make front-page news, damaging in the future. 

We’ve heard quantum warnings for years — but experts now flag the next 10 years as high-risk. 

The scale is so massive (economic, geopolitical, even ideological for crypto) that ignoring it is no longer an option.

NIST-approved post-quantum cryptography (PQC) is ready — but it demands huge industry migration.

Citi urges banks: inventory crypto exposure, prioritize critical systems, and start the long migration now.

The question: With AI already stressing institutions, will finance find the bandwidth for quantum readiness?

♻️Repost to share this great read on quantum
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The Trillion-Dollar Quantum Threat to Banks and Crypto 

Asian banks are making faster progress toward the use of agentic/multi-agent systems in operations than banks in the West, which are still focused on siloed pilots.

Leading Asian banks, the top 10% of AI users, are achieving 30-50% efficiency gains and 2-3x productivity uplifts through agentic AI, beating global peers. 

“Banks in Asia find themselves at an AI inflection point. They have a window of opportunity to pick up the pace of their transformations and to create distance from peers that may be slower to recognize and seize this moment.”

Asia’s banks are trying to widen the “AI-divide” with their competition to drive efficiency and increase revenue using AI. 

Why the focus on operations instead of sexy front-office use-cases?

↳ Approximately 75% of GenAI’s economic potential comes from just four functions, customer operations, marketing & sales, software engineering, and R&D. 

↳ End-to-end operations represent an estimated 60–70% of a bank’s overall cost base, making operational transformation through AI (especially agentic AI) the biggest potential value unlock in banking — far more disruptive than other functions

↳ McKinsey’s latest Global Banking Annual Review 2025 estimates that AI could bring gross reductions of 15 to 20% of a bank’s entire cost base

These gains will not be easily won due to regulatory complexity, legacy stacks, and institutional inertia that inhibit AI deployment. 

Another factor is that in parts of Asia, the cheaper cost of labor has historically prevented many banks from pursuing tech-enabled transformations of operations.

This is why Agentic AI, with its human-in-the-loop requirement, allows Asian banks’ larger teams, often deployed in repetitive, high-volume tasks, to be redeployed to higher-value work.

That said, Asia’s AI frontrunners, like DBS in Singapore with GenAI assistants, are pushing boundaries and showing the region’s banks significant improvements in frontline productivity, KYC/AML transformation, and end-to-end process redesign.

Asia’s banks are ripe for AI transformation, and their fast actions will likely make them models for the West to follow. 

♻️Repost to share how Asian banks are leading on AI!
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Asian Banks Lead Agentic AI Surge Compared to West

Deloitte sees five major trends in payments for 2026.  How many of the five do you think will make the cut?  

My take is that a few look strong, but always the skeptic, I can't see some of them going big in 2026.

The Five Trends:

1️⃣ Regulation meets innovation: Stablecoin enables seamless global payments

Stablecoins are still not fit for mass adoption. Banks need serious infrastructure changes for them to be used in wholesale or retail payments. And while some may argue that banks aren’t necessary for retail payments, the only way they will go mainstream is if banks are fully onboard. I agree that they'll be big in 2026 but not mainstream.  Note that I like how Deloitte acknowledges that on major transfer corridors, stablecoins offer little benefit.  

2️⃣ Mandates in motion: Speed is the new standard
  
Deloitte is correct, real-time payments are the future, but the US’s FedNow is late to the party and doesn’t deliver. FedNow payments are 100% bank controlled, unlike fast payment systems in Brazil, India, and China. It processed a mere $853B in 2025 compared to card’s $13T! I don’t expect FedNow to even dent cards in 2026. It would cost banks too much!  

3️⃣ Beyond compliance: Turning data standards into competitive advantage

ISO 20022 is great messaging tech and means that reports of SWIFT’s demise at the hands of stablecoins are way too premature. With global adoption, it will reduce the cost and time for cross-border payments at a time when stablecoins are vying to make their mark. It’s the tech behind FedNow, Singapore’s PayNow, and Australia’s NPP.   And it helps banks with AML/KYC.

4️⃣ Autonomous payments: Agentic AI is reshaping the role of humans in finance 

Yes, autonomous payments are coming, but I can’t square people outside of Silicon Valley using them with the US having one of the lower global scores in AI trust. Let’s face it, if Americans don’t trust AI, will they let it spend their money? I’m willing to be wrong on this, but tech is way ahead of citizens on this one.  Big in 2026?  I'm not buying it. 

5️⃣ AI vs. AI: AI-powered fraud meets real-time defenses

So ask yourself, who is more innovative, banks or criminals? This is why banks will always be a half-step behind the crooks. New tech will certainly help banks reduce losses and will bring the curve down, but this is a game without end, and banks will always be playing catch-up. 

👉Which Didn't Make the Cut?

By my standards, real-time payments with FedNow and autonomous payments don't yet make the cut!   

FedNow adoption is still low, and autonomous payments still have major trust hurdles to clear.  

So that's 2 out of 5 that I don't see going bigtime in 2026! 

Tell me why I'm wrong!

♻️Repost with your thoughts
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Five trends in payments: How many make the cut?

“Sovereign AI” has become a strategic imperative. Nations want to cut dependence on foreign tech, protect national interests, and stay competitive in the AI race.

But here’s the reality: AI is the new oil — no country can afford to ignore it. 

Yet full “build-it-yourself” sovereignty is a myth for most. The US and China already control ~65% of global AI investment.

Chips, LLMs, infrastructure — they come from somewhere. A rigid go-it-alone policy is unrealistic when the resources are concentrated in just two powers.

The WEF offers a smarter path: prioritize strategic control and resilience over total self-sufficiency. 

Quote from WEF:
“Success in the AI era will be determined not by isolation, but by strategic interdependence – balancing domestic investment in key AI infrastructure with international collaboration.”

↳ This pragmatic approach helps nations avoid being forced to pick sides between the US and China. 

↳ It wisely promotes interoperable systems to dodge vendor lock-in. Run Chinese models on US servers (or vice versa) if it makes sense. 

↳Use “digital embassies” for data sovereignty.

No country — not even the US or China — can own the entire AI value chain. 

The winners will control partnerships, focus on adoption, and stay ecosystem-agnostic.  

Nations like India, Singapore, and the UAE featured in the report have winning formulas. 

That’s how you capture AI’s economic value and close the gap between AI makers and AI takers.

What’s your take? Is full AI sovereignty realistic, or is smart interdependence the only viable path forward?

♻️Repost to share this great read on AI sovereignty
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Sovereign AI: Go It Alone Means Fall Behind

🚨Top 2026 Trends, No. 4:🚨 Strong AI Governance Will Become The Norm — But Only After a Meltdown Forces Companies to Act

AI Governance will become a hot-button issue in 2026 because a global brand will experience an AI meltdown, triggering bad headlines, an apology from the CEO, and public questions about governance.

No one should be surprised that AI governance will be a key trend for 2026 when it is on the evening news.  

The paradox is that IBM shows how governance is not a hindrance to AI deployment but an accelerant! 

IBM’s survey of 1,000 global senior business and technology leaders showed that:

↳executives credited more than a quarter (27%) of their efficiency gains to strong governance. 

↳companies that invest more in AI ethics report 34% higher profit from AI as well as faster launches and stronger security.

These results show that the common belief that AI governance impedes the development of AI or is a mere “check-the-box” compliance issue is simply false.

The problem, however, is that while IBM shows governance accelerates AI development, the majority of surveys show that companies are ill-prepared for managing AI:

↳ Less than 1% of Firms Build Responsible AI (Sept 2025)

↳ 72% of organizations using AI report that their CEO is not responsible for overseeing AI governance and that 83% of boards do NOT oversee AI governance. (March 2025)

↳ Only 23% of organizations surveyed said they were highly prepared for “GenAI Risk and Governance” (August 2025)

I expect 2026 to be the year when AI governance lands front and center in front of every major company.  

Sadly, it will take an epic meltdown and a global news event to do so. 

♻️Repost to share this important read on AI governance.
#Fintech, #AI, and Tech at the speed of Asia and China.

AI Governance Will Need a Meltdown to Be Taken Seriously

One in six people now uses AI daily, while 6.8 billion remain left behind in the widening global divide as global adoption of GenAI tools reached 16.3% of the world’s population, and the Global South falls further behind.

Microsoft’s latest report on AI diffusion confirms my call last week: the AI divide is the No. 1 trend for 2026. (see link below)

Microsoft’s “telemetry” shows that AI adoption in the Global North grew almost twice as fast as in the Global South, widening the gap from 9.8 to 10.6 percentage points. 

The AI gap is growing, and AI’s benefits are not expanding equally among nations, companies, and people.

↳ The world leaders are the UAE and Singapore, treat AI as a national priority with build-outs of digital infrastructure, regulatory assistance, and policies that integrate AI into daily life. 

↳ The US dropped from 23rd to 24th place, reflecting the fact that a smaller proportion of the US population uses AI compared to smaller nations.

↳ The US’s low adoption rate also tracks with AI trust; only 32% of Americans trust AI, compared to 67% in the UAE.

I’ve long argued that Chinese open-source models would bridge the gap for developing nations priced out of Silicon Valley subscriptions.

↳ Microsoft, agrees: “DeepSeek removed both financial and technical barriers that limit access to advanced AI.” 

↳ DeepSeek’s surge is most striking in Africa, where usage is estimated 2–4× higher than in other regions — reaching millions who otherwise would have zero access.

Simply put, if people cannot afford AI, they can’t use it! 

Whatever side of the geopolitical US-China divide you fall on, you have to give DeepSeek credit where it’s due: 

DeepSeek is delivering AI to the underserved.

Never forget that OpenAI was at its start designed to be open-source, and Sam Altman is clear that OpenAI is on the ‘wrong side of history.’ 

What do you think — will open-source AI narrow the divide, or will it widen further?


♻️Repost to share this great read on the AI-divide
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AI Divide: North-South Gap Widens – 6.8B Left Behind

Weekend Read:  300,000 voices across 20 countries show that people feel more stretched, less healthy, and less confident about the future than they did a few years ago.

This stunning report by Oliver Wyman is my best Weekend Read in ages, as it affects every one of us who feels stuck in a treadmill of "more striving, less thriving."

For fintech and AI lovers, go straight to Chapter 3, page 50 for the chapter on AI investing with some shocking revelations:

-In two years, the share of people using AI for investing has jumped by nearly a third, to 44%. 

-Those confident they can outperform advisers are nearly 50% likelier to use AI for investing and financial planning. 

-Even as AI use has climbed, interest in letting AI invest automatically has fallen from 41% to 32%. Most see the technology as a co-pilot, not an autopilot.

-65% of middle to high income earners say they "can get better returns on their own than with a financial adviser."

👉This report offers so much more than AI in investing. It covers the big trends that are making us feel worse, not better.  

It also shows how the forces below are all reinforcing one another and, frankly, making everyone miserable: 

↳ We value achieving, caring, and being healthy more — yet we feel worse. 

People report feeling 9% worse physically and mentally than a few years ago. The pattern is “more striving, less thriving.” 

↳We turn to community, each other, and AI when the health system falls short. 

Quality-of-life indicators are at record highs, but people report feeling worse mentally and physically than a few years ago. Yet the pursuit of stability resembles a perpetual sprint: Everyone is running harder just to stay where they are.

↳We want fulfillment at work, but we’re settling for less — and slowing organizations down. 

 Employees are delivering “just enough,” and quietly draining momentum.

↳We’ve stopped forgiving bad experiences as consumers. 

 “Very right” has become the baseline expectation: 64% will dump a brand after a single poor experience.

↳We dream of never needing a paycheck again. 

Financial independence is now the fastest-growing unmet need, rising to 41% from 32% in 2022. Pressure to “make money to feel successful” has nearly doubled (+80%). 

↳We are the last generation to work only with humans. 

Two-thirds of employees (67%) already interact with AI in “human-like” ways and 28% prefer an AI manager over a human one. 

↳We’re leading through constant disruption and a fractured workforce. 

 51% say leadership models are outdated, and the share citing “subpar leadership” as a top dissatisfaction has jumped nearly 60% since 2023. 

Kudos to principle author Ana Kreacic and team! 

♻️Repost to share this report that shows why we all feel the same stress!
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AI reshapes our world as more are striving not thriving

🚨Top 2026 Trends, No. 1🚨: AI Inequality and Why APAC Is the Ultimate AI Testing Ground 

While we accept that banks and companies will rise and fall based on their AI capabilities, do we accept that nations, too, will face a similar fate, rising and falling with access to AI, the new “oil” fueling growth? 

AI is the world’s next essential infrastructure, like power, roads, and schools, with big upsides and the ever-present risk of falling behind.  

That’s why it is No. 1 on the list for the Top Trends of 2026! 

Access to AI will be crucial, and APAC will be ground zero for AI implementation. 

Why APAC?  

APAC’s 200x gap between the richest and poorest nations will make it a key testing ground for AI.

AI will be abundant in rich nations, with a gap that can hopefully be closed by deliberate diffusion to poorer nations.  

Add to that reasonably good connectivity, high trust in AI, and a broad diversity from island nations to AI juggernauts like China, makes it a natural front in the battle against AI inequality. 

But here’s the wild card.

So far, the expectation from the West is that nations and peoples without AI access will simply sit it out and wait patiently as the “AI Race” passes them by.  

This is, at best, naive and, at worst, ignores the urgent needs of billions without access.

Developing nations, particularly those in APAC, with generally good connectivity, unlike those in Africa, will not sit it out on the sidelines.  

They won’t watch while AI helps to transform education, healthcare, and agricultural management for others.

They will reach out for AI wherever they find it, and this leads us inevitably to the geopolitical and philosophical battle between China and the US over open-source AI access.

China’s AI is generally open-source and available to all, while Silicon Valley’s subscription model, used to generate revenue for massive data center expansion, largely bypasses developing nations. 

Even Sam Altman believes OpenAI has been “on the wrong side of history” when it comes to open-sourcing its technologies. 

Putting people first by enabling women, men, and children in the most vulnerable or remote communities to be empowered by the best that human achievement has to offer through AI is unstoppable. 

How it plays out in APAC will be a key feature of 2026 that we should all watch carefully as the “Next Great Divergence” plays out.

♻️Repost to share this Top Trend for 2026!
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AI Inequality: APAC is the Ultimate Testing Ground

Weekend Read:  2026: The Year AI Transforms Jobs Forever – Supercharged, Displaced, Co-Piloted or Stalled?

The WEF looks at the biggest question facing society in 2026: the future of jobs as AI transforms and displaces them. 

The Four Potential Scenarios for jobs will be:

1️⃣ Supercharged Progress:
Exponential Al breakthroughs reshape industries, business models and workflows. Productivity soars and innovation flourishes. Widespread Al readiness allows people to harness the "agentic leap."  

2️⃣ The Age of Displacement: 
Exponential Al advancement outpaces the capacity of the workforce to adapt. Businesses race to automate as a stopgap, displacing workers faster than education and reskilling systems can respond.

3️⃣ Co-Pilot Economy: 
Gradual Al progress and availability of Al-ready skillsets shift the focus towards augmentation rather than mass automation. The Al hype of the 2020s has given way to pragmatic integration: most industries see incremental transformation as human-Al teams reshape value chains.

4️⃣ Stalled Progress: 
Steady Al progress meets a workforce lacking critical skills. Productivity growth is patchy, and businesses lean on automation to backfill scarce talent. Gains concentrate within businesses and geographies with Al expertise, while others face eroding competitiveness.

Read the “No-Regret” strategies to prepare for all of these potentialities on page 4!

Which of the four scenarios do you think will happen? 

My take?  The co-pilot economy mixed with stalling!  

I see the AI divide causing a big stall ahead. 

Am I too pessimistic?  

♻️Repost to share this great read on the future of jobs and AI!
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2026: The Year AI Transforms Jobs Forever — 4 Scenarios!

Deloitte's latest report reveals a massive shift: AI tokens are driving enterprise IT budgets up by 20%+, replacing predictable SaaS pricing with volatile, usage-based GenAI costs.

↳ AI is now the fastest-growing corporate tech expense — some firms report it consuming up to 50% of IT budgets.

↳ ROI is lagging badly: only 28% of finance leaders see clear value, and half expect 3+ years to break even.

↳ Token spend is unpredictable — scales with model complexity, prompt length, reasoning steps, and infrastructure costs (high-bandwidth memory, storage, electricity).

The only real cost control? Open-source AI models — free to use, self-hosted, with data sovereignty benefits.  

Running an "AI factory" with a mix of open-source and other models is the ultimate cost control for larger organizations.  

Linux Foundation: 89% of orgs already use open source in AI stacks; McKinsey: ~50%.

Watch as Silicon Valley’s trillion-dollar data center bet just got riskier if open source dominates.

Key takeaways for banking & fintech:

↳ Token usage explodes unpredictably — no more fixed seats
↳ Governance is lagging — shadow spend is real
↳ Budget shock incoming — controls are non-negotiable
↳ Winners act now: track tokens, optimize prompts, negotiate volumes, build budgets
↳ Open-source AI is essential for cost reduction

Token economics demand active financial discipline, just like cloud spend did 10 years ago, and a hard look at using open-source AI. 

Drop a comment — curious how you're navigating this shift.

♻️Repost to share this great read on AI tokens! 
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AI Tokens: The New Currency of Enterprise AI

The digital euro’s parliamentary approval is all but assured following Trump’s threat to EU sovereignty over Greenland, which reinforced the ECB’s consistent calls for the digital euro to bring “monetary sovereignty” to the EU.  

A few days ago, ECB Executive Board member Piero Cipollone stated the crux of the problem, pointing out that US companies like Visa, Mastercard, and PayPal own “critical parts” of the global financial infrastructure and “can theoretically pull the plug on us.”

Comments like Cipollone’s may sound alarmist at first glance, but real-world events show his concerns are far from unfounded.

Nicolas Guillou is a French judge at the ICC in The Hague, and is now under U.S. sanctions for authorizing arrest warrants against Prime Minister Netanyahu and former defence minister Gallant for war crimes in Gaza.

As a result of these sanctions, he can no longer use Visa, Mastercard, or Amex, maintain normal EU-based banking services, or use digital accounts or services with US companies.  

While Guillou’s case may be extreme, and readers may fall on different sides of his decision, it shows the need for EU monetary sovereignty in cases where the US and EU do not see eye to eye. 

Reports from late 2025 suggesting that the digital euro would face difficulty in the EU Parliament now seem like ancient history, and a vote is scheduled for May 5, with Germany announcing its backing of the project yesterday.

Bolstering the case for a digital euro are more than 60 economists who are imploring EU parliamentarians to back the digital euro, warning the Eurozone would “lose control of the most fundamental element in our economy: our money,” to US payment providers.  

The economists, including famed French academic Thomas Piketty, state: “A strong public digital euro is not a nice-to-have, it is an essential safeguard of European sovereignty, stability and resilience.” 

They are right, and after Trump’s Greenland threat and US sanctions, rejecting the digital euro would now be politically unthinkable. 

♻️Repost to share the love for the digital euro.
#Fintech, #AI, and Tech at the speed of Asia and China.

Digital Euro: Visa and MC Can "Pull the Plug" on the EU

Boldly declaring that “the future is onchain” Dfns and BCG turn back the clock to blockchain’s boom year of 2017, where ICOs ruled, and blockchain was the solution to every problem.  

Let me state from the beginning that blockchain is great tech and that it has an important future in banking, payments, and securities.  

Even the ever-so-staid New York Stock Exchange is tokenizing securities following the US dollar going on-chain with stablecoins.

So yes, institutional adoption of blockchain will be big in 2026, and it is very much a “transformational” technology. 

That said, it is a stretch to say that crypto, which the paper innocently refers to as “blockchain native” firms, will:  

1) Disrupt tradfi if they don’t transition to “on-chain banks” or,

2) Provide the tech to rebuild a bank’s tech stack.

Crypto firms still have a long way to go in the trust department before they replace incumbents.   

Similarly, their ability to rebuild a bank's admittedly ancient core systems is seriously in doubt. 

The paper suggests that blockchain tech is unto itself, sufficient for crypto firms to overcome the tremendous societal momentum banks have in their favor. 

This is wishful thinking, especially given crypto’s checkered history and lack of integration into people’s daily lives.  

Has anyone you know used BTC or stablecoins to buy groceries or a car recently?  

I don’t doubt that we will be using stablecoins sometime soon, and banks will adapt; they have no choice. 

But this notion that they must go on-chain or die off is out of 2017, when articles were actually written stating that blockchain may help cure cancer.  

Can I interest you in an ICO?

Banks Must Go On-Chain or Die: The 2017 Boom is Back

Weekend Read: Mambu's "Predictions Report" is a great read that is both easy to skim and thought-provoking as financial services are being "radically rewritten." 

What makes this report such a great read is the inclusion of quotes from industry practitioners in every chapter.  

If you read nothing else, go straight to page 15 for the excellent and rare coverage of Islamic finance.  

"By 2026, Islamic finance will no longer be seen as a niche alternative but as a blueprint for ethical, inclusive and technology-driven banking worldwide." 

Other noteworthy chapters:  Pg 18, "The Transformation in Banking" and Pg 32, "Gen Z, Gen Alpha, the Future of Finance." 

👉Seven topics will define the next chapter of financial services in 2026.

↳ Al and the financial revolution
Artificial intelligence has reached a new frontier of capability

↳Compliance, regulation, and cybersecurity
As innovation accelerates, trust has become one of the most valuable assets in financial services

↳Islamic finance
A principles-led model of finance is taking shape in the digital-first world

↳Transformation in banking
Banking is no longer defined by balance sheets and branches, but by the technology that connects them

↳Payment innovation and Embedded Finance
Payments are disappearing into the background of daily life

↳Crypto and blockchain
Blockchain has moved beyond experimentation to become part of modern finance's digital infrastructure

↳Gen Z, Gen Alpha, and the future of finance 
Every generation reshapes how people live, connect, and create value

What is Mambu missing, if anything?  

♻️Repost this great banking trends report, especially if you're among the 97.6% of LinkedIn users who don't post.  How can you go wrong with this one? 

#Fintech, #AI, and Tech at the speed of Asia and China.

Read How FinServ is Being "Radically Rewritten" 

The quantum threat is a trillion-dollar risk that could break every bank & crypto wallet in a decade as nationalism and insularity impact AI sovereignty and fintech's global aspirations.

If you’re reading this newsletter, I’m sure you are as “alert and attentive” as are the “syndics” of the “drapers guild” in Rembrandt’s famous painting below! 

This week's headline article is all about the quantum threat to finance and crypto. We’ve covered this topic before, but with advances in quantum computing, the threat is getting more real by the day.  

The good news is that standards for quantum-proofing systems exist, so banks and payment companies aren’t being asked to invent the technology, just apply it.  

Application, however, is still a monumental effort in that they need to audit their systems and manage a coordinated roll-out of new quantum-proof tech with other industry participants.

Add quantum to banks’ AI transformation, and it’s not an overstatement to say that they are seriously “burdened!” 

Which leads us to Accenture’s report on the top 6 tech trends for banks in 2026. I give tremendous credit to Accenture for one of the best reports of its kind.  

I just said that banks are “burdened,” and after reading this, you’ll see how heavy the burden on their shoulders is. I seriously doubt that most banks have the tech bandwidth to move fast enough on all of these efforts. 

Who could miss this week’s Davos Forum?  I have two reports that are straight out of Davos that focus on the impact of nationalism and insularity on Sovereign AI and fintech.

This is a real issue for neobanks Revolut, Nubank, and bunq (no capital B), all of which aspire to launch in the challenging US market.  

Deutsche Bank analysts declare that the AI honeymoon is over and that profits need to flow in 2026!  

This is a great read that confirms my constant warnings in this newsletter that while AI is transformational tech, it will take longer to implement than advertised. 

Finally, we look at Mambu’s top predictions for banking, look at the sections on Islamic Finance and Gen Z. 

♻️Repost to share these great reads on quantum and AI sovereignty.
#Fintech, #AI, and Tech at the speed of Asia and China.

Thanks for reading the “Cashless” newsletter, an insider’s view on Asia’s fintech, CBDC, and AI for anyone striving to understand “the Asia Century.” 

Open article: The Quantum Threat: Trillion-Dollar Risk That Could Break Every Bank & Crypto Wallet in a Decade by Richard Turrin • 5 min read

The Quantum Threat: Trillion-Dollar Risk That Could Break Every Bank & Crypto Wallet in a Decade

🚨Top 2026 Trends, No. 5:🚨 Digital Public Infrastructure Goes Global — Powered by Payments Success in India, Brazil, and China

Digital public infrastructure (DPI) is one of the most important trends in payments, with strong success in India and Brazil, making the rest of the world pay attention. 

DPI is a trend that cannot be ignored, and before readers say, it won’t happen in the West, I point to the digital euro, which is a model of DPI development. 

The digital euro proves that DPI is not solely the domain of developing countries but is every bit as relevant for advanced economies. 

Brazil’s UPI and India’s PIX together account for nearly two-thirds of global instant payment transactions and are models of how universal instant payments are an engine for economic growth.

China’s WeChat and Alipay also proved the economic value of universal instant payments, and while not strictly speaking DPI, the state-owned Union Pay network, initially used to carry their payments, is in spirit. 

As DPI, all of these payment systems are universally available and the cornerstone of financial inclusion, economic growth, and fintech innovation. 

Whether UPI, PIX, WeChat, or Alipay, all of these systems reduce onboarding time and provide instant, secure, and nearly cost-free payments, saving time and money for quite literally billions of users. 

DPI is a trend that won’t go away, and I expect more nations, particularly those in the global south, to take note and press forward with DPI payments. 

By the way of all of the top trends lists I've seen this year, I'm the only one covering DPI!   Check back in 2027!!

♻️Repost to share this important read on DPI
#Fintech, #AI, and Tech at the speed of Asia and China.

DPI is going global and not just for developing nations 

Deutsche Bank boldly says that the AI honeymoon is over in 2026, ending with disillusionment, dislocation, and distrust

According to the bank's tech analysts, this will be a tough year for AI, as it will have to prove its value to keep the money flowing. 

Deutsche's prognosis is not good, and the report’s opening line sets the tone for disillusionment in 2026:  

“Generative AI will be transformative, but not right now. As pilots move into production, enterprise users are confronting inherent limitations such as accuracy; the difficulty of applying it in unpredictable real life; and the fact that in many areas it will be a long time, if ever, before it is more economical than human labour.”

👉Three themes are converging:

1️⃣ Disillusionment: Beauty is in the eye of the AI beholder

↳ Rapid tech improvements (e.g., coding) are more visible in Silicon Valley than to CEOs demanding real revenue or operational impact.

↳ Most companies lack integration capacity, high-quality data, controls, employee buy-in, and client acceptance for meaningful use.

↳ Agentic AI rollouts are far more complex than providing chatbots or copilots — workflows don’t integrate easily.

↳ The “trough of disillusionment” is here: hype fades, ROI disappoints, and scaling proves harder than promised.

2️⃣ Dislocation: AI of the storm

↳ 2026 brings bottlenecks, grid constraints, and severe talent scarcity — AI’s supply chain is the most complex in history.

↳ Hyperscalers keep investing heavily, and outside the US, sovereign AI pushes demand in the Middle East, Europe, and beyond.

↳ Investors will soon demand returns — 2026 could be make-or-break for standalone AI model makers.

↳ OpenAI faces extreme cash burn ($9B last year, ~$17B this year) with only a fraction of 800M weekly users paying — marginal costs keep rising.

3️⃣ Distrust: AI can’t get no satisfaction

↳ Anxiety escalates into lawsuits over copyright, privacy, data-centre impacts, and chatbot risks to young people.

↳ Scare stories and misuse examples will dominate headlines, amplifying public fears.

↳ Job displacement concerns intensify — credible studies show early evidence (e.g., 16% relative employment drop for recent graduates in AI-impacted roles).

↳ Fears of a US-China AI race grow, with China leading in cheap, open-source models (e.g., DeepSeek) that appeal to cost-sensitive, non-aligned countries.

Is it really that bad, or are these analysts looking at a glass as half empty rather than half full? 

♻️Repost to share AI's big challenge in 2026
#Fintech, #AI, and Tech at the speed of Asia and China.

AI in 2026: Disillusionment, Dislocation, Distrust 

Efi Pylarinou

Co-Founder and author

Top Global Fintech & Tech Influencer • Trusted by Finserv & Tech Global • Content & Influencer Services • Advisory for Digital Transformation • Speaking • connect@efipylarinou.com

Seasoned, credible, and independent services for your business.
As a Top Global Fintech & Tech thought leader, continuously recognized in multiple rankings, I offer Content and Influencer services to put your leadership and activities in the spotlight.
I take on advisory roles, helping leadership stay ahead of Fintech trends in combination with their strategic objectives. 
I am also a Speaker and offer Workshops. 

𝐌𝐲 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬

My content services enhance your content strategy and include high-quality content - articles, videos, or white papers, shared on all my social networks (close to 250,000 followers). 

My Advisory services help you keep up and stay ahead of Fintech innovations and shape your digital transformation strategy. 
 
1.	Sponsor a series of Articles or Videos.
2.	Hire me as a Speaker. Currently speaking on `Thinking like an AI native Business` or `The Future of Money & Finance`.  
3.	Workshops: On the above topics or the broader topics shaping our future in collaboration with the faculty at the Fast Future Executive program.
4.	Advisory on a retainer basis, plus project-based. 

𝐒𝐚𝐦𝐩𝐥𝐞 𝐜𝐥𝐢𝐞𝐧𝐭 𝐰𝐨𝐫𝐤 - DM me. 

𝐖𝐡𝐨 𝐈 𝐚𝐦

I am a seasoned Wall Street professional and ex-academic who has become a 𝐓𝐨𝐩 𝐆𝐥𝐨𝐛𝐚𝐥 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 & 𝐓𝐞𝐜𝐡 𝐓𝐡𝐨𝐮𝐠𝐡𝐭 𝐋𝐞𝐚𝐝𝐞𝐫.

I am a domain expert with a Ph.D. in Finance, a prolific Content creator, and a Faculty at Fast Future Executive. 

I am trusted by global Brands in Tech and Financial services (see brochure). 

I am a Top LinkedIn voice with 200,000+ LinkedIn followers. Also included in:
-	Top 50 Fintech Influencers worldwide - Favikon 
-	Top 50 Global Digital Influencers - IPFC Online
-	Top 100 Tech Influencers - Awards Magazine
-	Top 20 Swiss Linkedin creators - Favikon 
-	Top 50 Digital Futurists, Top Linkedin & Twitter Voice - Engatica 
-	Top 20 Fintech Influencers & Top 20 in ‘ Who`s Who in AI’ influencers Onalytica 

I am a contributing author in these books
o	2025 Marshall Cavendish `Branch Tomorrow`
o	2024 Wiley `Fast Future Blur`
o	2021 Springer ` Theories of Change`
o	2019 `4IR, Reinventing a Nation`
o	2018 `WealthTech` Wiley

Follow me on: 
📌 Linkedin: https://www.linkedin.com/in/efipylarinou/
📌 YouTube Channel: https://www.youtube.com/EfiPylarinou
📌 Substack https://sifintechpulse.substack.com/
📌 Medium: https://efipm.medium.com/
📌 Twitter: https://twitter.com/efipm
📌 Apple Podcasts - https://buff.ly/3oSZ4CA
📌 Spotify - https://buff.ly/3xPyWaV
📌 Facebook: https://www.facebook.com/efipm
📌 TikTok - https://tiktok.com/@efiglobal?lang=en

Founder of Pylarinou Advisory

B2B content campaign services (Blogs and Video). 
My global audience is close to 200,000 followers on Linkedin and an additional 20,000+ across other platforms.  

Speaking engagements & Education - Domain expertise includes Digital Banking, Capital markets, Wealth and Asset Management, Digital Assets, and innovative ways of using advanced technologies.

🔵 Honored to join the Global Blockchain Business Council (GBBC) 2026 Ambassador Cohort, alongside 250+ peers across 119 jurisdictions and disciplines.

Back in 2018, at my very first Blockchain Central in Davos at the Ameron hotel, I met Sandra Ro 🇺🇦, who in March that year became CEO of GBBC. Since its launch in 2017 in Davos, GBBC, under Sandra’s leadershi,p has grown into the largest global industry association for the blockchain, digital assets, and emerging technologies community, with more than 500 institutional members and a rapidly expanding Ambassador network.

GBBC’s mission is to advance responsible adoption of blockchain and digital technologies by engaging regulators, business leaders, and global changemakers to build more secure, equitable, and sustainable societies – a mission that deeply resonates with my work.

Building bridges between traditional finance and emerging innovations has always been at the core of my Fintech journey. Joining this global Ambassador network is an opportunity to deepen those bridges and to continue connecting incumbents and innovators, policymakers and practitioners.

I am also excited to collaborate with fellow Ambassadors to amplify GBBC’s global reach, support its initiatives across standards, policy, and education, and bring forward ecosystem stories from Europe and beyond. Looking forward to contributing to this mission-driven community.

Thank you #GBBC and Sandra Ro for this honor.

You can read more about the 2026 cohort here: https://lnkd.in/eYajbsg3

#blockchain #digitalasstes #tokenization 
Alexander E. Brunner Arjun Vir Singh Xiaochen Zhang Antonis Polemitis Aaron Stanley Thomas Puschmann The Fast Future Executive Emma Joyce Beth Haddock Ronit Ghose Prof Dr Ingrid Vasiliu-Feltes

Dr. Efi Pylarinou

blockchain, digital assets, tokenization, GBBC, CBDC

🟣 Trains and planes are ideal for zooming out. 🚂 ✈️

I recorded my first reflective piece of 2026 on the way up to Davos yesterday. Sometimes you need the physical elevation to match the conceptual one.

I've been tracking infrastructure-level innovation for years, while most fintech innovation happened everywhere except at the infrastructure layer.

That's changing. Fast and messily (as expected). And what is shaping it?

                𝐓𝐡𝐞 𝐇𝐨𝐥𝐲 𝐓𝐫𝐢𝐧𝐢𝐭𝐲 𝐑𝐞𝐬𝐡𝐚𝐩𝐢𝐧𝐠 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐒𝐞𝐫𝐯𝐢𝐜𝐞𝐬

There's a sacred triad - three forces starting to interconnect and converge. This triad is what will reshape financial services, capital markets, and, honestly, the future of the Economy and the Internet itself.

And one of them is massively under-discussed, underestimated, and underinvested.

I am drawing your attention to these points as we all zoom into specific use cases, policies, and adoption cycles.

---------
If you aren't already subscribed to `Conversations & Insights` my youtube channel, consider hitting the Subscribe and Bell button. Link below. 

Also, stay tuned for more directly from Davos over the next couple of days. 

#FinancialServices #Infrastructure #AI #Blockchain #Innovation #Davos #WEF

🔵 The State of Humanity – all in one report!

For the past 3 years at Davos, I've met with Ana Kreacic (COO of the Oliver Wyman Forum and Partner & Chief Knowledge Officer at Oliver Wyman). This year, we sat down to discuss the newly released 𝟑𝟎𝟎,𝟎𝟎𝟎 𝐕𝐨𝐢𝐜𝐞𝐬 𝐚𝐧𝐝 𝐖𝐡𝐚𝐭 𝐓𝐡𝐞𝐲 𝐓𝐞𝐥𝐥 𝐔𝐬 𝐀𝐛𝐨𝐮𝐭 𝐭𝐡𝐞 𝐍𝐞𝐱𝐭 𝐄𝐫𝐚 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐂𝐡𝐚𝐧𝐠𝐞.

With the physical report in hand, we unpacked what 5 years of global data reveal about how humans have fundamentally changed.
A few findings that caught my attention (beyond those in the Investing section):
🔸 "On paper, people are thriving. In real life, they're running on empty."
🔸 "One-third of Gen Z said they'd prefer an AI boss" – they are not longing for a robot CEO. They are longing for the consistency, transparency, and fairness they rarely see in humans.
🔸 "For the first time in modern corporate history, five generations share the workplace and their core behaviors are not converging" (Gen Z and boomers diverge by 1.5 to 7.5x on core behaviors).
🔸 The wellness paradox: Commitment to health and fitness rose 20% but yet mental health declined 11% and physical health fell 8%. More tracking, less joy.
🔸 "64% of consumers will dump a brand after a single poor experience." Loyalty is on thin ice.

Watch our conversation.  👇

Full report link to dive deeper into the report in the comments.
#Davos #WEF2025

🔵 I watched the WEF panel "Is Tokenization the Future?" with high expectations.

Spoiler: They barely discussed tokenization.

𝐁𝐫𝐢𝐚𝐧 𝐀𝐫𝐦𝐬𝐭𝐫𝐨𝐧𝐠 dominated the conversation with a singular obsession: why US-regulated stablecoins should pay yield.

Sir, this was supposed to be about the future of global financial markets.

Let's be clear on a few things:
‣ 𝐂𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐚𝐥𝐫𝐞𝐚𝐝𝐲 𝐡𝐚𝐯𝐞 𝐲𝐢𝐞𝐥𝐝. They haven't fled from JPMorgan and BofA for SoFi, Robinhood, and Chime. These fintechs pay 400x more interest on everyday money than the big banks, and yet.

Money market funds are an $8 trillion market, up 12.7% in the past year alone. Since the Fed started raising rates in March 2022, MMFs have seen a record $1.4 trillion in inflows. Access to these liquid yield options is easy. Tokenized MMFs for retail, like Franklin Templeton's Benji, are already here, and there will be more to come with all the additional efficiencies of moving RWAs on blockchain rails.

‣ 𝐓𝐡𝐞 "𝐨𝐟𝐟𝐬𝐡𝐨𝐫𝐞 𝐬𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧𝐬 𝐩𝐚𝐲 𝐲𝐢𝐞𝐥𝐝" 𝐚𝐫𝐠𝐮𝐦𝐞𝐧𝐭? Maybe we can rationalize that their yield is compensation for being unregulated under the Genius Act 😉. It's a risk premium  😉. And why should US regulatory policy be shaped mainly by the geopolitical panic of "we must win offshore too"? Should we go back to 2019 and apologize to Mark Zuckerberg, who made the same geopolitical arguments for LIBRA but was stopped?  Since when is China's CBDC the benchmark for US-regulated privately issued stablecoins?

‣ 𝐇𝐞𝐫𝐞'𝐬 𝐰𝐡𝐚𝐭 𝐰𝐞 𝐬𝐡𝐨𝐮𝐥𝐝 𝐡𝐚𝐯𝐞 𝐝𝐢𝐬𝐜𝐮𝐬𝐬𝐞𝐝: USD stablecoins are not a retail Tradfi market-fit success story. They are a wholesale infrastructure success story. They are the missing layer that will enable functional tokenized markets for RWAs, institutional flows, and collateral management. That's the conversation worth having at Davos during a session titled Ìs Tokenization the Future?

Valérie Urbain (French CB) and Bill Winters (CEO Standard Chartered) understood the assignment. They spoke about market infrastructure, settlement, and the actual architecture this shift requires.

Brian? He heard "tokenization" and answered "stablecoin yield"—for 45 minutes.

Brian Armstrong: 𝐖𝐡𝐞𝐧 𝐄𝐯𝐞𝐫𝐲 𝐐𝐮𝐞𝐬𝐭𝐢𝐨𝐧 𝐒𝐨𝐮𝐧𝐝𝐬 𝐋𝐢𝐤𝐞 '𝐒𝐭𝐚𝐛𝐥𝐞𝐜𝐨𝐢𝐧 𝐘𝐢𝐞𝐥𝐝.'

Tokenization is so much bigger than stablecoins. It's a shame this panel didn't get to explore that.

Full video link in the comments

#tokenization #WEF #stablecoins

🔴 The top AI model scores 61% on financial tasks — and loses money when asked to invest.

BizFinBench.v2 just tested ChatGPT-5, Claude, Gemini, Grok, and DeepSeek on real financial workflows: credit analysis, compliance, risk assessment, asset allocation. The results should reset expectations.

📍ChatGPT-5 led the pack at 61.5% accuracy on core financial tasks. That's the best performer - still getting nearly 4 in 10 wrong on expert-level questions.

📍But here's the real story: when asked to actually allocate assets, ChatGPT-5 failed to beat a simple S&P 500 index fund. It lost money. Sharpe ratio below 1.

📍Meanwhile, DeepSeek-R1 outperformed all commercial LLMs on real-time tasks.

What this tells us:
→ "𝐀𝐈 𝐰𝐢𝐥𝐥 𝐫𝐞𝐩𝐥𝐚𝐜𝐞 𝐟𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐚𝐧𝐚𝐥𝐲𝐬𝐭𝐬" 𝐧𝐞𝐞𝐝𝐬 𝐚 𝐫𝐞𝐚𝐥𝐢𝐭𝐲 𝐜𝐡𝐞𝐜𝐤
→ Augmentation, not replacement, remains the deployment model
→ Human oversight isn't optional - it's the strategy

The hype cycle wants autonomous AI advisors. The data says: NOT YET.

Are you seeing this gap between AI promise and performance in your organization?

📊 About the research: BizFinBench.v2 is the first large-scale benchmark grounded in authentic business data from both Chinese and U.S. equity markets. It covers 29,578 expert-level Q&A pairs across eight fundamental tasks and two online tasks, testing LLMs on what actually matters in financial services — not synthetic scenarios.

Link to paper in the comments. 

Stephen Wall Nick Rice April Rudin Olga Miler James Eagle Paolo Sironi Ron Shevlin Rupak Ghose George Aliferis Dr. Karen Wendt Linas Beliūnas Nafis Alam Paddy Ramanathan 

#LLMs #investing #AI

1st Benchmark Study for Expert-Level Financial Capabilitie

🔴 My Fintech week in Review is out, and Davos and the WEF are dominant themes. 

On my way there, I shared reflections on what I’m calling 𝐓𝐡𝐞 𝐇𝐨𝐥𝐲 𝐓𝐫𝐢𝐚𝐝 shaping the emerging transformation at the infrastructure layer. 

Also in this week’s edition:
• Highlights from the extensive Oliver Wyman report surveying 300,000 voices
• Why a WEF panel on tokenization barely discussed tokenization. 
• In depth research from US and China equity markets, showing that AI still fails the financial reality test - the top model scored 61.5% on real workflows and lost money when asked to invest.

This was a video-heavy week with real-time reflections from the ground.

And don’t miss my Friday Agentic AI newsletter - using GenAI and Agentic AI combined with my curation to keep you current on how AI is shaping financial services: regulation, investments, use cases, deployments, and research. Weekly so you don’t have to track it daily.

#Fintech #AI #Davos #WEF #AgenticAI #Banking

AI Still Fails the Financial Reality Test The top AI model scored just 61.5% on real financial workflows — and lost money when asked to invest. Benchm

Open article: Fintech Week in Review: Davos WEF Insights, AI Reality Check, The Holy Triad, State of Humanity, Tokenization, Agentic Commerce by Dr. Efi Pylarinou • 2 min read

Fintech Week in Review: Davos WEF Insights, AI Reality Check, The Holy Triad, State of Humanity, Tokenization, Agentic Commerce

🔴 Payment rails for AI agents are being built and integrated. Stripe’s Agentic Commerce Protocol expanded in EMEA through integrations that will eventually enable purchases to happen inside AI interfaces, not checkout pages.

Welcome to the 33nd edition of the Agentic AI Newsletter for Financial Services!

A weekly edition with the essential intelligence on the AI-powered transformation of Financial Services. AI agents are working tirelessly 24/7 to curate global news and articles, which are enhanced with my human insights.

This week’s key developments:
1️⃣ Stripe’s ACP launches with EMEA partners, including Fortune 500 Insight Enterprises Inc. – agent-initiated purchases are now production-ready
2️⃣ PNC reports 30 points of operating leverage from automation – with 171 opportunities worth $1.4B in addressable spend
3️⃣ Brex eliminates 10,000+ hours through AI-native continuous accounting – month-end closes become continuous ledger hygiene
4️⃣ Record $230M seed funds AI-native Islamic digital bank Mal – targeting the $7T underserved market
5️⃣ Woori Financial Group (one of Korea’s Big Four) declares “we are an AI company” – plans 344 use cases
6️⃣ Research reveals LLM trading vulnerability – adversarial headlines can cost 18% annual returns

Which development matters most for your organization? 👇

#fintech #AI #agentic

Welcome to Agentic Newsletter for Financial Services—the first newsletter dedicated to the transformation in financial services driven by the advancem

Open article: Stripe's ACP Scales Through New Integrations While PNC Reports 30 Points of AI-Driven Leverage by Dr. Efi Pylarinou • 5 min read

Stripe's ACP Scales Through New Integrations While PNC Reports 30 Points of AI-Driven Leverage

🔵  Trump just named his Fed Chair pick. The financial services implications go far beyond rate policy.

Kevin Warsh will succeed Jerome Powell in May, pending Senate confirmation.

What caught my attention: A 2024 interview (Letter #230 by Kevin Gee "A Letter a Day"), now circulating on X, where Warsh argued that Fed policy has been "good for asset holders" while "taking risks with the paychecks" of W2 earners who don't own assets.

His November 2025 WSJ op-ed, "𝐓𝐡𝐞 𝐅𝐞𝐝𝐞𝐫𝐚𝐥 𝐑𝐞𝐬𝐞𝐫𝐯𝐞'𝐬 𝐁𝐫𝐨𝐤𝐞𝐧 𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩," doubled down: the Fed's "bloated balance sheet" has made borrowing "too easy for Wall Street while credit on Main Street is too tight."

🔹 Let's be honest: the Fed balance sheet is not just an accounting artifact - it's the crystallized consequence of decades of choices about who prospers and who waits.

Kevin Warsh has been consistent in the diagnosis. But what's the prescription?

❓If Main Street credit is too tight, does the cure align with Trump's push for aggressive rate cuts? 
❓Or does true support for the real economy require something more structural—and potentially more painful?

Kevin Warsh has said the right things and has the right experience. The question is whether the walk matches the talk when political pressure meets economic reality.
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Who is Kevin Warsh? At 55, he's a Stanford graduate, Harvard Law-trained, and was the youngest-ever Fed Governor when appointed (2006-2011). During the 2008 financial crisis, he served as the Fed's primary liaison to Wall Street and helped design the emergency lending programs that stabilized credit markets. Today, he is the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution, a lecturer at Stanford GSB, and a partner with legendary investor Stanley Druckenmiller at Duquesne Family Office. The Hoover affiliation (a policy research center known for intellectual rigor) may calm skeptics worried about a purely political appointment.

The Week in Review Saturday edition will include this post and will air tomorrow.
#FederalReserve #Fintech #FinancialServices #Banking

Fed chair, Kevin Warsh, interest rates, monetary policy

🔴 Agentic commerce infrastructure is going live — and the race to own the rails has begun.

This week, Worldline launched MCP servers for AI agents to initiate payments via natural language. PayPal endorsed Google's Universal Commerce Protocol (UCP) alongside Visa, Mastercard, Stripe, and 20+ partners. McKinsey projects $3–5 trillion in agentic commerce by 2030.

Welcome to the 32nd edition of the Agentic AI Newsletter for Financial Services!

A weekly edition with the essential intelligence on the AI-powered transformation of Financial Services. AI agents are working tirelessly 24/7 to curate global news and articles, which are enhanced with my human insights.

Here's what's shaping the agentic economy this week:
1️⃣ #Worldline launches MCP servers — AI agents can now initiate payments via natural language
2️⃣ #PayPal backs Google's Universal Commerce Protocol — joining Visa, Mastercard, and Stripe in standardizing agent transactions
3️⃣ #JPMorgan eliminates external proxy advisers — deploys Proxy IQ for 3,000+ annual shareholder meetings
4️⃣ Chime reports 30% AI-generated code and 90% weekly employee usage — AI as operating partner, not assistant
5️⃣ Q4's IR-focused AI wins Global AI Awards — domain-specific outperforms horizontal solutions
6️⃣ 72% of CEOs now lead AI decisions (doubled from last year) — half believe their jobs depend on it
7️⃣ #MAS pushes AI risk to boardroom accountability — no carve-outs for experimental deployments
8️⃣ BizFinBench.v2 reality check: ChatGPT-5 achieves only 61.5% on financial tasks — human oversight non-negotiable

The infrastructure is being built. The standards are being set. The question is: who will own the agent rails 😉?

Which development will have the biggest impact on your organization? Share your thoughts 👇

#AI #agents #fintech #finserv

Welcome to Agentic Newsletter for Financial Services — the first newsletter dedicated to the transformation in financial services driven by the advanc

Open article: Payment Giants Integrate Agent Rails While Singapore Pushes AI Risk to the Boardroom by Dr. Efi Pylarinou • 6 min read

Payment Giants Integrate Agent Rails While Singapore Pushes AI Risk to the Boardroom

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