- Artificial intelligence will shape the next generation of banking services: 86% of executives at European banking institutions say that artificial intelligence will radically transform retail banking by 2030, while 61% believe that the organizations that adopt it first will gain a significant competitive advantage or dominate the market.
- An ever-widening gap is emerging: between banks that use artificial intelligence to optimize their current operating model and those that integrate it into decisions that shape future growth and the customer experience, ranging from fraud detection to personalized services and the capabilities of AI agents.
- Banks are taking different approaches to adopting artificial intelligence: from “Efficiency Seekers” to “Trust Builders,” “Competitor Chasers,” and “Compliance Keepers,” the choices they make today will determine how value is created in the future.
According to a new study by Visa, a global leader in digital payments, senior executives at European banking institutions believe that artificial intelligence will not merely improve operational efficiency, but will radically redefine the model of the bank of the future. At the same time, they believe that those who take the lead will gain a clear competitive advantage over the next decade.
The study, conducted by Visa Consulting & Analytics (VCA), was based on responses from 325 senior executives across 17 European markets and demonstrates a clear shift from experimentation to implementation. At the same time, it highlights a growing gap between banks that leverage artificial intelligence to optimize their existing operating model and those that integrate it into the decisions that shape their their future.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Key findings of the survey include:
- More than 90% of European banks already use some form of artificial intelligence in their core business operations.
- 86% of banking executives in Europe believe that artificial intelligence will transform retail banking by 2030, while 61% believe that early adopters will dominate their markets.
- Nearly half of banks (48%) continue to focus their investments primarily on operational efficiency or boosting employee productivity, while fewer than one in three (30%) cite improving the customer experience or preventing fraud as their primary motivation for investing in artificial intelligence.
- How artificial intelligence is utilized proves to be a decisive factor: Organizations that apply the technology in high-volume transaction and real-time decision-making environments, with the goal of improving the customer experience, such as fraud detection and personalized services, are 40% more likely to achieve meaningful transformation.
- In contrast, when artificial intelligence is applied to peripheral functions, such as product development or loan origination, its impact is more limited and is expected to peak soon.
The survey also highlights the different strategies banks are pursuing regarding the adoption of artificial intelligence and how these strategies significantly influence their results. About half of the banks (48%) fall into the “Efficiency Seekers” category, focusing primarily on reducing costs and improving operational efficiency. “Trust Builders” (30%) prioritize investments in artificial intelligence to enhance their customers’ experience, while “Competitor Chasers” (15%) invest primarily in response to market pressures. Finally, a smaller group, the “Compliance Keepers” (7%), focuses primarily on compliance with the regulatory framework.
Among these categories, the “Trust Builders” stand out in particular. They are more common among banks with a strong digital focus and are much more likely to state that artificial intelligence enhances customer trust, particularly through faster fraud detection and the provision of more personalized services. At the same time, they report more significant productivity gains, as 42% of employees save two or more hours per week, compared to 28% at banks in the “Efficiency Seekers” category. These findings demonstrate that different approaches to adopting artificial intelligence are already leading to uneven results in the banking sector.
“Artificial intelligence will define the next generation of banking services. However, this will not be achieved through isolated pilot projects or parallel initiatives. It will depend on whether banks can effectively reshape the core of their operations to support its implementation,” said Michalis Ioannidis, Visa’s Country Manager in Cyprus. “The challenge today is to create infrastructure capable of supporting large-scale growth, with modern and flexible systems, interconnected data, and artificial intelligence integrated directly into real-time decision-making processes. Banks that lay these foundations correctly will move faster, adapt more easily to change, and deliver safer, more meaningful, and seamless experiences that meet their customers’ expectations.”
“Our research shows that the adoption of artificial intelligence in the European banking sector is already widespread, though results vary significantly across organizations. Most banks are gradually seeing benefits, while only a smaller group is achieving a sustained and growing impact,” said Claudio Di Nella, head of Visa Consulting & Analytics at Visa Europe.
“The difference lies in implementation. Leading banks integrate artificial intelligence into their actual decision-making processes, use it across multiple functions within the organization, and systematically evaluate its performance using clear effectiveness metrics. They do not limit themselves to experiments in isolated areas, but integrate artificial intelligence into the way their entire organization operates.”
Visa’s study titled “From AI Promise to AI Performance,” which outlines guidelines for the most effective adoption of artificial intelligence, is available here.
About the Study
The study was commissioned by Visa (NYSE: V) and conducted by Visa Consulting & Analytics among a sample of 325 senior decision-makers from banks across 17 European markets. Its purpose was to assess the level of adoption and the strategy being implemented regarding artificial intelligence in retail banking.
The case studies, statistics, findings, and recommendations are provided “as is” and are intended solely for informational purposes. They do not constitute, and should not be construed as, operational, commercial, legal, technical, tax, financial, or other professional advice.
Visa Inc. makes no warranty or representation regarding the completeness or accuracy of the information in this document and assumes no liability for any consequences arising from its use. Furthermore, the information contained herein does not constitute legal advice, and readers are encouraged to consult a qualified legal professional where necessary.
About Visa
Visa (NYSE: V) is a global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government agencies in more than 200 countries and territories.
Our mission is to connect the world through the most innovative, user-friendly, reliable, and secure payment network, empowering individuals, businesses, and economies to thrive.
We believe that economies that include everyone, in every corner of the globe, benefit everyone, and that universal access is the foundation for the future of money transfers.
Learn more at https://www.visa.gr/.
