IIConsumer

Artificial intelligence is transforming the banking industry, streamlining operations, improving risk management, and enhancing the customer experience.

Best Payments

Akbank

Aiming to enhance back-office efficiency and reduce friction, Akbank implemented an AI-driven solution in 2024, training an open-source LLM on over 100,000 banking documents. The custom-tailored LLM tool reinforces secure and compliant operations within the bank’s own data centers and is accelerating back-office automation, significantly improving accuracy, security, and overall efficiency, and underscoring the bank’s dedication to AI innovation and regulatory compliance.

Akbank is utilizing this AI-driven model primarily to automate payment order processing for both customers and regulatory institutions; it also plays an important role in automating back-office transaction orders, significantly reducing the need for manual intervention.

Best Chatbots & Virtual Assistants

CaixaBank

CaixaBank’s employees now have access to NOA, a GenAI-powered assistant designed to provide accurate answers to internal questions using NLP. The tool is a first for CaixaBank, setting a new standard for AI-driven operational efficiency at CaixaBank. Unlike traditional knowledge management systems, it eliminates the need for manual searching by directly retrieving precise information from the bank’s extensive internal documentation. In so doing, NOA has fundamentally altered the process by which 45,000 CaixaBank personnel access information, reducting the necessity for escalating issues and enhancing query resolution efficiency. The system currently handles more than 8 million queries a year, reducing response times and elevating the overall employee experience. User adoption has been swift, attributed to NOA’s intuitive interface and seamless integration within workflows.

Best Enhanced Customer Experience

DBS Bank

DBS Bank pioneered an industry-first Negative Customer Impact (NCI) Control Tower in 2024 that enhances service management by identifying customer pain points and “silent sufferers” in real time. It focuses on key customer journeys to detect performance anomalies early, enabling an effective and timely response while minimizing customer impact.

The NCI Control Tower provides crucial transparency on customer behavior and client performance data to platform and business owners, facilitating ongoing improvement of the customer journey. This comprehensive approach, covering a broad spectrum of service performance dimensions, significantly enhances DBS’s resilience and response capabilities. Since its launch, NCI teams have scaled across more than 15 customer-facing channels, encompassing the delivery of more than 300 customer journeys.

Best Personalized Financial Advice

QIB

QIB’s upgraded AI-driven Next Best Offer (NBO) 2.0 recommendation engine uses deep learning on customer behavior, transactions, and financial patterns to deliver personalized, real-time financial product recommendations. Its key feature is non-intrusive, seamless integration into QIB’s mobile app, providing tailored product information without disrupting core banking.

The AI algorithms evolve, improving accuracy and engagement over time. NBO 2.0 analyzes over 1,600 customer attributes—including demographics, holdings, transactions, and interaction data over five years—to pinpoint the customer’s financial journey stage and suggest the most appropriate products. It also provides valuable data for product portfolio refinement.

Best Private Banking

Bank of Georgia

Bank of Georgia (BoG) is setting a new standard in client acquisition with a dual strategy for identifying and converting high-potential, affluent clients who primarily bank elsewhere. By leveraging these external sources, BoG can detect “invisible” high-income individuals who have minimal engagement with the bank’s current ecosystem: a significant improvement over traditional identification methods that rely on publicly available external data. This fusion of AI and strategic intelligence provides a tailored approach to building the client base, making BOG a leader in data-driven banking innovation.

Best Fraud Detection And Prevention

Banamex

Banamex is employing AI and machine learning, specifically including neural networks, for real-time fraud detection and prevention. The bank reports a 70% reduction in attempted fraud since it integrated AI throughout its operations in March 2024. Banamex combines rules-based systems, data mining, and neural networks to activate a unified system capable of instantaneous analysis and response to potentially fraudulent activities.

A critical element involves implementing the FICO Falcon Fraud Manager solution. The real-time processing capabilities of the tool’s neural network models mitigate fraud-related losses and enhance detection accuracy by identifying fraud at the point of sale, prior to transaction completion. Its AI infrastructure processes voluminous amounts of transaction data in real time to discern patterns, anomalies, and deviations from behavioral norms, enabling it to promptly flag and potentially inhibit suspicious transactions.

Best Credit Assessment

Banamex

Banamex is leveraging AI to revolutionize its credit assessment process, shifting from slow, traditional methods to real-time evaluations. AI algorithms analyze vast datasets, incorporating up to 200 variables—including traditional financial metrics and potential alternative sources like geolocation—to create a comprehensive, multidimensional, and more accurate view of the applicant’s creditworthiness. This dynamic model significantly improves decision-making speed, the bank reports, particularly for high-volume tasks, and enhances overall operational efficiency by automating data processing and analysis.

AI and data analytics deliver tangible customer benefits as well. Faster credit approvals and personalized services, driven by AI insights, elevate the overall customer experience and thereby help Banamex maintain a competitive advantage in Mexico’s rapidly evolving financial sector.

Crucially, AI-powered credit assessment contributes to the goal of financial inclusion by providing the opportunity to enter the formal banking system to prospects with limited or no established financial history. Typically, the options available to low-income individuals or those operating only in the informal economy are limited in capacity, come with substantially higher annual percentage rates, and may involve tough collection practices. Access to financing from a formal player like Banamex can be a life-changing event for these applicants.

Best Risk Management

BBVA

BBVA utilizes Mexico’s extensive transfer network, analyzing both direct and indirect data including recurring client-to-nonclient transactions, to accurately estimate client income. This enables effective assessment of those with limited banking activity, optimizing the credit offer based on true financial stability.

Transfer analysis is the foundation of a sophisticated relationship model that identifies financial links and inherited assets and detects irregular activities like triangular movements and simulated income, enhancing accuracy and mitigating fraud. This enables BBVA to offer better-tailored financial products, promoting responsible and secure credit access.

The model is applied across BBVA’s entire client portfolio—those holding existing credit products and those not—providing a valuable tool for business units needing insights into clients’ economic standing and repayment capacity. Integrating multiple data sources—including credit bureau reports, investments, transactions, relationship graphs, and payroll—ensures thorough evaluation, reducing risk and optimizing credit allocation. This multisource approach yields precise opportunity identification, ensuring BBVA’s marketing campaigns align with its risk appetite while minimizing exposure to clients who lack financial capacity.

A critical component is assigning a predicted income range, refining the bank’s marketing campaigns to align with a predetermined risk level. This leads to enhanced prediction stability and optimized credit offers, ultimately maximizing profitability and reducing default risk.

Best Fintech

CTBC

CTBC Bank’s AI Cheque Check is notable as Taiwan’s first AI-based check recognition system, achieving over 90% accuracy in interpreting traditional Chinese handwriting, the bank reports, by integrating advanced handwriting recognition and centralized processing.

Initially developed for internal use, it has significantly boosted check processing efficiency and accuracy across CTBC Bank’s branch network, eliminating the manual verification bottlenecks inherent in traditional processing, thereby accelerating check clearance and minimizing human error.

AI Cheque Check uniquely combines optical character recognition, structured transaction data, and AI-driven compliance checks to ensure smooth automation while maintaining crucial regulatory accuracy. It benefits the Taiwanese bank’s customers as well by speeding up transaction times and improving service quality.

‘Phygital’ strategies and tools help consumer banks blend advanced technology and AI with accessibility and financial inclusion.

A wave of innovation is reshaping consumer banking, moving a business estimated at some $70 trillion worldwide beyond simple online transactions to create integrated, customer-centric financial ecosystems. A primary feature of this transformation is the shift to super apps and beyond-banking models, which aggregate a comprehensive suite of financial and nonfinancial services—from credit and investments to communication and e-commerce—on a single, secure digital platform. Often, this shift is enabled by leveraging open-banking principles and APIs to foster a broader, more interconnected digital ecosystem.

Accessibility and financial inclusion remain central, however, as banks deploy “phygital” strategies that blend advanced technology with human touchpoints to ensure seamless access even in geographic areas with limited physical or digital infrastructure. Tools include mobile virtual-network operators (MVNOs) that do not own their own wireless network infrastructure and the USSD (unstructured supplementary service data) communication protocol that allows mobile phones to interact directly with a service provider’s systems.

Strategic application of machine learning and AI, meanwhile, is driving internal efficiencies in risk management and process automation and enhancing the customer experience through personalized product offerings and intelligent, real-time, decision-making for services like loan approvals. Convenience and security remain top of mind as banks adopt payment innovations like PayShap, QR, and tap-to-pay; sophisticated fraud-monitoring systems; and unique features designed to build trust and simplify complex daily financial activities.

Taken together, these innovations amount to a sweeping cultural change, as well as process change for banks whose customer base runs the gamut from beginner to highly sophisticated. This year’s regional winners exemplify the effort needed to get it right.

Africa

First National Bank

South Africa’s First National Bank (FNB) offers FNB Connect, an integrated digital financial platform including banking, credit, insurance, investments, and communication within a secure ecosystem. FNB serves 7.7 million digital customers who log into the app 156 million times monthly. As South Africa’s highest-rated banking app, it does duty as a personal banker, financial coach, and e-commerce hub, offering consumers an omnichannel experience driven by intuitive design, automation, and personalization.

“FNB Connect drives our ‘beyond banking’ vision by integrating connectivity, devices, and digital services into one ecosystem,” says FNB Connect CEO Sashin Sookroo. “In rural and periurban areas where physical banking infrastructure is limited, our MVNO offering ensures customers remain connected to digital platforms, enabling secure transactions and access to financial tools. Together, these pillars bridge the gap between connectivity and financial inclusion, accelerating digital adoption where traditional channels are out of reach.”

FNB is working to reduce communication costs through zero-rated banking channels, rewards, and free WhatsApp; and to make technology accessible via curated products such as solar energy and water tanks with eBucks Rewards. The bank’s service-provider portfolio allows customers to top up airtime/electricity or redeem vouchers at over 400,000 locations, eliminating the need to travel to urban centers. FNB’s CashPlus and AgencyPlus initiatives blend technology with human touchpoints to deliver a phygital experience, notes Fazlen Khan, channel management head for Broader Africa, ensuring financial services are inclusive and accessible for all communities.

Asia-Pacific

Taiwan Business Bank (TBB)

Although best known as Taiwan’s only dedicated SME bank, TBB has extended the same digital strengths to its consumer channels, creating a unified experience across retail and business customers. “Through model-based analysis of financial conditions and market dynamics,” says Lawrence Tsai, TBB’s manager of Digital Banking, “TBB predicts future funding needs, offering precise financial solutions to enhance business planning and operational efficiency.” Its micro-enterprise e-loan platform is specifically designed for SME financing, aligning the bank’s application processes, review logic, and product design with the distinct needs of small and midsized enterprises.

TBB offers an industry-first, comprehensive one-stop online experience for business applications and contract execution. Thanks to extensive use of optical character recognition, MyData integration, robotic process automation (RPA), and real-time decision-making systems, the bank reports it has reduced the time required for application submission from 15 minutes to two, and review time from two days to 40 minutes. Business owners can scan necessary documents using a mobile device or upload them via computer; the system automatically retrieves data through the National Development Council’s MyData database, enabling application completion in just 10 minutes.

Central & Eastern Europe

Bank of Georgia

Bank of Georgia’s digital efforts have cut costs by more than 30% and achieved 90%-plus online service access, it reports, rewarding the bank with consistent industry recognition. Its super app offers investment services as well as “Buy Now, Pay Later.”

Bank of Georgia leverages open banking APIs to create a broader, highly interconnected digital ecosystem and prioritize a customer-centric experience with high digital adoption, seamless processes including remote account opening and instant digital cards, and enhanced support via chatbots and 24/7 in-app assistance. The bank is integrating machine learning and AI for risk management and process improvement and to create highly personalized product offerings. These include AI-driven SME loan approvals, cutting processing time for a significant share of clients.

Latin America

Banco Banamex

Banamex offers intelligent and personalized payment via its digital ecosystem. Customers can conveniently pay bills, transfer money, and make purchases with digital cards using the Banamex app and online banking while integration with Apple Pay, Google Pay, and Samsung Pay allows for fast, contactless payments tailored to customer lifestyles. In April, the bank launched Banamex Switch, a 100% digital account aimed at Gen Z, through which users can access digital account opening; digital credit cards; exclusive digital promotions, personalization, security, and control; and 24/7 assistance.

Middle East

Commerical Bank of Qatar

Commercial Bank of Qatar’s digital platform offers over 150 services including geofencing for real-time card offers and automatic branch appointment token issuance (within 10 meters), eliminating manual kiosk interaction. A 60-second remittance service provides fast transfers to over 40 countries. IBM Safer Payments, an intelligent fraud monitoring system, analyzes transactions across digital channels, ensuring scam incidents are rare, while CBsafe ID protects against fraudulent calls via call verification, enhancing trust.

North America

Bank of America

Digital services are central to client relationships at Bank of America (BofA), driving growth and personalized experiences through industry-leading digital capabilities integrated with its financial and call centers. Last year, BofA clients’ digital interactions rose 12% to hit a record 26 billion. The launch of the bank’s unified mobile app last year enables clients to access all their banking, investment, and retirement accounts via any Merrill, Private Bank, Benefits Online, or BofA app. Erica, BofA’s comprehensive virtual financial assistant, manages clients’ full financial relationships, including initiation of applications in physical centers and completing them digitally. Lately, Erica has also been of use to clients affected by Hurricanes Helene and Milton and the Los Angeles wildfires earlier this year, making information available about BofA’s Client Assistance Program.

“We prioritize our multibillion-dollar technology investment by focusing on scalable innovation that delivers real value to our clients and employees,” says Tom Ellis, head of Consumer Technology. “From AI-driven tools like Erica to advanced data analytics and cybersecurity, our goal is to ensure every digital interaction is smarter, more personalized, and more efficient—year after year.”

Western Europe

Eurobank

Eurobank enhances 24/7 customer support through multiple digital channels, including interactive assistance via personal and bulk messages; private online chat through Click2Chat; and a video teller service for scheduling meetings, uploading documents, and applying for products. The bank’s digital channels also provide user-friendly investment tools, enabling real-time stock transactions, mutual fund management, and a global investment portfolio view, plus personalized product suggestions and credit offerings.

For daily financial activities, Eurobank integrates customizable payments, such as recurring and bulk options, with account aggregation for a unified view of the customer’s accounts. Features like real-time alerts, payee verification, fee calculators, personalized transaction suggestions, searchable history, repeat payments, and contactless options simplify transactions and link to a digital rewards program.

Consumer banking is moving far beyond traditional branch-based models.

A clear trend is the ascendancy of the “super app” strategy, where institutions consolidate hundreds of functions—from daily banking and wealth management to lifestyle services like transport and stock trading—into a single, seamless digital ecosystem.

Complementing this is the pervasive integration of artificial intelligence (AI) that is evolving from a customer service tool to a core driver of personalized financial advice, fraud prevention, and hyperefficient digital lending.

Furthermore, the focus on user experience (UX) and robust information security has intensified, with banks prioritizing intuitive design, unified platforms, and advanced defense mechanisms like SIM-card fraud joint defense to build trust in a mobile-first world.

Finally, the pioneering of open-banking APIs and agile transformation demonstrates a move toward a more collaborative and financially inclusive industry, expanding access to underserved populations and leveraging technology to embed financial services deeper into customers’ daily lives.

Best Digital-Only Bank

Rakuten Bank

Rakuten Bank distinguishes itself within the competitive digital-only banking sector by adopting a full-service, universal-bank model. This approach moves beyond the typically limited offerings of many neobanks,

providing a truly comprehensive suite of banking products and financial services accessible entirely through the bank’s robust online and mobile platforms. This universal digital scope caters to a broad clientele, serving the complete financial needs of both individual consumers and corporate entities.

The expansive array of services offered includes core banking functions such as standard banking, lending solutions, investment and wealth management, corporate finance, foreign exchange, and international services. By integrating these diverse financial pillars—from daily transactions to complex financing and investment—Rakuten Bank provides a singular, highly digitalized ecosystem where customers can manage virtually every aspect of their financial life without the need for a physical branch.

Best Online Payments Solution

Commercial Bank of Qatar

Commercial Bank of Qatar leads in consumer digital payments due to its first-to-market approach and focus on secure, seamless experiences. Innovations supporting Qatar’s move toward a cashless society include the CB Pay mobile wallet, wearable payments, contactless “Tap N Pay” cards, mPay QR-code payments, and 60-second international remittances, all designed for convenience and speed.

Best Integrated Consumer Banking Site/ Best Bill Payment & Presentment

Arab Bank

Arab Bank delivers a unified, seamless digital experience. The bank’s strategy focuses on integrating platforms for a consistent customer journey, using data analytics for personalized engagement, and adopting a mobile-first approach with its Arabi Mobile app. The bank prioritizes speed and efficiency through digitized processes, enabling quick loan approvals and convenient digital onboarding. Arab Bank also excels at bill payment and presentment by creating a smoothly integrated and customer-centric digital ecosystem.

Best in Lending/ Best Online Product Offerings

Bank of Georgia

Bank of Georgia excels in Central and Eastern Europe with a super-app strategy, offering a broad and seamlessly integrated digital ecosystem. This includes digital lending (80% uptake), in-app stock trading, and lifestyle services such as digital gift cards and public-transport management. The bank leverages AI for personalized financial advice, product recommendations, and enhanced security, driving digital growth and boosting customer loyalty.

Best User Experience (UX) Design

Bank of America

Bank of America (BofA) excels in UX design, offering a seamless, unified, and personalized digital experience. The bank consolidated five apps into one platform with an intuitive Accounts Overview. BofA’s AI assistant, Erica, simplifies tasks and provides proactive, personalized insights through natural-language interactions, assistance with finding transactions, locking and unlocking debit cards, and snapshots of spending. BofA also prioritizes security with features like QR code sign-on. And the bank actively seeks client feedback.

Best Mobile Banking App

Isbank

Isbank İşCep is recognized as a leading mobile banking app due to its super-app strategy and AI integration. It offers over 800 functions, from financial management to lifestyle needs. The bank’s AI assistant, Maxi, handled over 103 million conversations in 2024, providing personalized financial guidance. With over 80% of transactions on mobile and an 88.1% customer-satisfaction rate, İşCep demonstrates a successful digital strategy.

“Users shouldn’t be forced to manage their finances across multiple mobile apps. We understand that, ultimately, they desire a single, personalized finance application,” asserts Sezgin Lüle, deputy CEO at Isbank. “The opportunity exists to expand beyond traditional banking functions by incorporating nonbanking services through strategic partnerships. This approach promotes a collaborative ecosystem, especially with startups, positioning us as a financial ecosystem builder rather than just a bank.”

Best Information Security and Fraud Management

Taiwan Business Bank (TBB)

Taiwan Business Bank (TBB) excels in digital security and fraud management, employing a “three lines of defense” framework and continuous risk monitoring. The bank’s mobile app features a “mobile security shield” and dual-protection locks. TBB also partners with fintechs for AI-driven fraud prevention, sharing anonymized data to combat payment and remittance fraud effectively.

TBB leads the financial industry in security innovation by partnering with telecom, e-payment, and technology sectors to launch Taiwan’s first SIM-card fraud joint-defense mechanism. Through integrating the SIM-card reissuance anti-fraud communication API, TBB cross-verifies users’ SIM status during e-payment account linking, effectively identifying high-risk activities. As a result, the number of users linking TBB accounts to e-payments apps has tripled.

TBB is also actively deploying AI technologies and will officially establish its “AI Lab” soon. The AI Lab will serve as a crucial engine for technological innovation and cross-departmental collaboration. It will facilitate the practical implementation of AI applications and deepen digital transformation.

Best in Social Media Marketing and Services

Liberty Bank

Liberty Bank leverages data-driven communication and centralized campaign management for consistent and effective messaging. The bank builds community on social media by fostering relationships and providing meaningful content. Liberty’s social media success stems from an integrated digital transformation and strategic investment in technology. Targeted campaigns like “One of Us” support specific business goals and brand identity.

Most Innovative Digital Bank

Bancolombia

Bancolombia is known for its agile transformation, rapid product development, and commitment to financial inclusion. Its successful digital-only bank, Nequi, exemplifies Bancolombia’s innovative approach, providing accessible financial services to millions, including underserved populations and a mobile-first generation.

Best Open Banking APIs

Millennium BCP

Millennium BCP leads in open banking, a success driven by the bank’s advanced technological infrastructure and strategy. The core is Millennium’s pioneering API platform, which is the central nervous system enabling seamless, secure data exchange with third parties. A developer-first approach complements this, cultivating an ecosystem for external developers. The bank provides comprehensive, easy-to-use APIs, robust sandboxes, and testing environments, encouraging fintechs to build new consumer services on its infrastructure. Crucially, the operation is underpinned by an unwavering commitment to security and compliance with regulations such as the EU’s Revised Payment Services Directive. These open-banking achievements are integrated into a cohesive, institution-wide digital-transformation strategy, solidifying the bank’s position as a provider of cutting-edge digital financial services.

Best in Transformation

Banco Popular Dominicano

With Banco Popular Dominicano’s “More Digital, More Human” strategy, the bank combines advanced digital channels like its App Popular with personalized interaction with humans, such as remote financial officers and people at reimagined branches. The bank also expands its ecosystem by embedding services in other businesses and leveraging technology for efficiency, security, and financial inclusion.