How AI is Reshaping the Open Banking Landscape

Large language models like ChatGPT will soon power a new generation of fintech. AI models will improve forecasting and increase customer retention.


Open Banking has yet to reach its full potential. The general public needs to be better informed about what Open Banking does. Because of this, some are already debating giving up on Open Banking.

Following OpenAI’s release of its ChatGPT language model to the public, a flurry of stories about artificial intelligence has been making headlines this year.

The popularity of Large Language Models (LLMs) like ChatGPT has prompted Open Banking supporters to wonder if this is what it has been lacking.

The rapid pace of development has prompted calls for a halt in studying advanced AI. There are risks involved with AI, as with any new technology, and many have recently come to light.

Financial regulators have a close eye on the use of AI models while also acknowledging their potential value. Specific machine-learning techniques are altering how we interact with technology daily, including in open banking.

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