AI-Driven Banking: The Fifth Wave
Update: 2025-12-15
Description
At a recent banking awards event, Arun Jain unveiled his vision for the fifth wave of banking, powered by AI, cloud computing, and design thinking. His company, Purple Fabric, is at the forefront, aiming to make advanced AI tools accessible to all in the banking sector. This open platform democratizes technology, moving AI out of specialized departments and into the hands of business and operations teams. The goal is to boost efficiency, improve customer experiences, and maintain strong ethical standards. Jain emphasizes a customer-centric approach, focusing on real-life financial events rather than products. This is supported by Intellects eMACH dot ai framework, which uses modular components to help banks build unified platforms for real-time, personalized interactions. The new approach aims to enable faster innovation and lower-cost business models, creating a more responsive and efficient banking experience.
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