77% of APAC Banking Leaders Call for Purpose-Built AI: FICO Survey
Source: Fintech Singapore
Published on: 2026-10-15 07:55
Get the hottest Fintech Singapore News once a month in your Inbox A FICO poll has found that 77% of senior banking leaders across Asia Pacific consider it extremely important for banks to use AI tools developed specifically for financial services rather than adapted from consumer applications. The remaining 23% rated such specialisation as somewhat important. "Financial institutions operate under regulatory scrutiny that most consumer technology companies don't face," said Dattu Kompella, Managing Director, Asia Pacific, FICO. "Banks need AI models that are explainable, auditable and designed from the ground up for compliance. Off-the-shelf consumer AI doesn't meet that bar." Privacy and compliance remain key barriers Banking leaders identified governance and regulatory concerns as bigger obstacles to AI adoption than technology or cost. Data privacy and security topped the list,...
(Please login to view full article)Third-Party Content Disclaimer
Content displayed on this platform may include news articles, reports, and other materials aggregated from publicly available third-party sources through automated tools. Such content is not created, written, commissioned, or edited by Straits Interactive Pte Ltd or the Data Protection Excellence (DPEX) Network.
While we take reasonable steps to ensure responsible publication, we do not independently verify all third-party information and make no representations as to its accuracy, completeness, or reliability.
The views, findings, and statements expressed in third-party content belong solely to the original source and do not reflect the views of Straits Interactive Pte Ltd or the DPEX Network.
If you believe any content is inaccurate, infringing, or should be removed, please contact us at legal@straitsinteractive.com. We will review the matter and, where appropriate, take action in accordance with our internal policies.
Unlock these benefits
Get access to news, enforcement cases, events, and actionable tips and guides
Get regular email updates and offers
Job opportunities, mentorship and career guidance
Exclusive access to Data Protection community - ask questions, network and share knowledge with peers and experts via WhatsApp and Linkedin
DPEX Network is a Community Initiative of Straits Interactive.
Copyright © Straits Interactive Pte Ltd. All Rights Reserved.
All intellectual property rights to logos and brands featured on this website remain the property of their respective owners.