Generative artificial intelligence (GenAI) is causing a major paradigm shift in the financial services industry, pushing institutions to put a laser focus on improving efficiency, productivity, and time to value during the modeling lifecycle.
Research from EY reports that 90% of banks surveyed have recently dedicated resources to GenAI exploration or deployment.1 This overwhelming majority indicates a strong confidence that GenAIwill continue to play a major role in driving financial institutions’ business goals.
As GenAI becomes more prevalent in finance, there are several trends emerging that organizations need to keep an eye on.
Key market trends to watch
- Models are becoming more powerful, more open-sourced, and making significant breakthroughs in “reasoning.” This is happening rapidly, which means financial organizations must adapt to determine how to apply these advancements to their specific use cases.
- GenAI is also beginning to understand the physical world with advancing capabilitiessuch as speech, text, and image recognition. Institutions can apply this functionality to take advantage of new assetslike unstructured data, which may not have been used as often in the past.
- Productivity is a major priority for most institutions that implement GenAI. A recent study from Forrester showed that improved productivity is the leading measure of successful outcomes as a result of incorporating GenAI in everyday business operations.2 Fromenhancing the development of new solutions to improving existing ones, organizations can use GenAI to streamline workflows and increase efficiency.
- However, the compute power needed to run models is still expensive. While there are some indications of GenAI starting to become more affordable, many institutions may still feel the need to invest significant resources to bring the technology into their workstreams.
So how can financial institutions implement GenAI to accelerate the modeling lifecycle, go to market more quickly, and improve overall productivity and efficiency? Enter Experian Assistant, our agentic AI-powered virtual assistant that has been making waves across the industry.
Experian Assistant empowers financial institutions
Experian Assistant provides robust tools for data exploration, model building, deployment, and performance monitoring. Its intuitive interface and powerful algorithms allow users to delve deep into their data, uncovering insights that drive better decision-making.
One of the tool’s standout benefits is its ability to accelerate time to market, significantly reducing the time required to build and deploy models. This allows institutions to capitalize on opportunities more quickly,which translates to increased productivity and faster time to value.
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Industry-wide acclaim
Experian Assistant was recentlypresented with the 2025 BIG Innovation Award in the Products for Financial Services category. Recognized as a trailblazer for the financial services industry, Experian Assistant offers a deeper understanding of credit and fraud data. Integrated with the Experian Ascend Platform™, the solution greatly accelerates the modeling lifecycle, slashing model-development times from months to days and – in some cases – hours.
Following the BIG Innovation Award, Experian was also presented with the 2025 FinTech Breakthrough Award for Analytics Innovation. This prestigious award recognizes those “who are dedicated to reshaping the FinTech industry through innovative technologies.” Thisrecognition continues to strengthen Experian Assistant’s role as atop-tier solution for helping Experian’s customers achieve success.
Leading data scientists in the financial services industry are also taking full advantage of Experian Assistant’s model building enhancements. Victor Rwehumbiza, EVP – Chief Data Scientist at Continental Finance Company, LLC, shared his experience:
Experian Assistant is revolutionizing the financial services landscape with its cutting-edge GenAI capabilities. By empowering institutions to explore data, build and deploy models, and monitor performance with unprecedented speed and accuracy, it is setting new standards for productivity and efficiency.
Visit our website to learn more about how Experian Assistant can accelerate your organization’s modeling lifecycle to drive real results and real impact.
1 EY, Five priorities for harnessing the power of GenAI in banking, 2023.
2 Forrester’s Q2 AI Pulse Survey, 2024.
