Big four banks challenger, ME, will explore artificial intelligence technologies this year to build on its existing automated decision-making capabilities and further streamline how it deals with more than 365,000 customers.
Banks of the future will be technology companies with a banking licence and traditional banking may give way to more digitally advanced methods and platforms, say fintech specialists.
Westpac CIO, David Curran, predicts that more partnerships between big banks and smaller fintech startups will help to drive a new innovative working model.