Khaliq Khan – Global Leader, Kyndryl Vital: Humanising AI in Financial Services
with Khaliq Khan, Global Leader, Kyndryl Vital
Khaliq Khan joined the conversation to provide a compelling overview of how Kyndryl Vital, a customer experience-focused arm of Kyndryl, is helping financial institutions navigate digital transformation.
Khaliq challenged the notion of using AI simply to automate existing processes faster, cautioning that this often leads to a “faster mess”. Instead, he advocated for AI as a context-aware and human-centric technology, emphasising the shift from feeding human input into systems to now interpreting system output in a human way.
He also addressed ethical concerns and the risks of bias in AI, highlighting the need for banks to create a firm regulatory and cultural framework that AI systems must operate within. Kyndryl’s second-generation AI framework incorporates non-negotiable rules, from regulatory requirements to company values, and builds adaptive learning on top of that foundation.
On scalability, Khaliq noted that while AI has been present in banking for years (such as voice recognition or digital cheque processing), the next frontier lies in end-to-end process transformation across the entire bank. His approach involves assessing models not just for capability but also for viability and reliability, especially in cost-sensitive environments.
Finally, he discussed the dual impact of AI on both customer experience and employee enablement, stressing that AI should act as a companion for employees as they learn to interact with evolving technologies and increasingly informed customers.
Paul Gillen – Group Chief Security Advisor, Barclays: Cybersecurity in an Age of AI
with Paul Gillen, Barclays
In a candid and powerful discussion, Paul Gillen of Barclays shared his deep concerns about the current cybersecurity landscape, describing it as the worst he’s ever seen. Speaking from experience both at Barclays and as Chair of the Cyber Defence Alliance, Paul identified three top threats facing financial institutions today:
- Ransomware – particularly targeting third-party suppliers.
- Third-party risk – due to dependencies on external vendors.
- Nation-state attacks – fuelled by geopolitical tensions.
Paul warned of a “degree of inevitability” in these attacks, especially when third-party vendors fall short in their security posture. However, he pointed to long-term investments and root-and-branch cybersecurity reviews as ways large institutions like Barclays have strengthened their defences.
A key focus was the disruptive potential of generative AI. Paul called it the biggest enabler of cyber fraud, citing examples like voice cloning, deepfakes, and fake documentation that lower the bar for cybercriminals. He revealed that Barclays is actively researching how these techniques could be used to circumvent existing security protocols, demonstrating the proactive stance the bank is taking.
Paul also reflected on the role of regulation, such as the NIS2 directive, as a positive force. He welcomed the introduction of board-level accountability and attestation, believing that regulation will focus minds and elevate cybersecurity across critical infrastructure providers.
Imke Jacob – General Executive Manager, DZ Bank: AI’s Role in Evolving Payments
with Imke Jacob, DZ Bank AG
Imke Jacob of DZ Bank shares her perspective on the evolving role of AI in the payments landscape, following her Sibos session on “Payments Amplified”.
Imke framed AI’s impact on payments as an evolution, not a revolution, especially given the complexity and legacy infrastructure of large banks like DZ Bank. With 99% of payments already automated, AI is becoming crucial for tackling the final 1%, particularly in areas like fraud detection, sanctions screening, and risk management.
She also touched on the people dimension of AI transformation. As businesses try to adopt new technologies, there’s a need to balance enthusiasm and scepticism within the workforce. Managing this shift is key to long-term success.
Looking ahead, Imke predicted significant innovation in customer-facing payment experiences, particularly in liquidity management for corporate clients and cross-border payments. She painted a futuristic scenario where users instruct AI agents to make transfers without needing to know whether the transaction is domestic or international. These agents might even delay transactions to optimise for FX rates and costs, leveraging predictive models and instant payment infrastructure.
She concluded by highlighting the importance of maintaining customer understanding and risk management as payments become more seamless and potentially invisible through embedded finance.
AI, Agents and the Workforce of the Future: In Conversation with Roger Burkhardt, Broadridge
with Roger Burkhardt, Broadridge
Roger brings a unique perspective, having worked in AI since the early 2000s. He outlines the evolution of the technology, highlighting the pivotal role played by the chat interface in making AI truly accessible. In his view, the release of ChatGPT was a watershed moment, akin to the rise of the internet in the 1990s, enabling widespread access to powerful models once reserved for elite data science teams.
At Broadridge, Roger explains how the company has embedded generative AI into its products and services. A notable example is BondGPT, launched in mid-2023, which helps corporate bond traders identify which bonds to trade using a natural language interface. Despite already having access to premium market data tools, users found BondGPT more efficient, demonstrating the value of intuitive, AI-powered interfaces.
Beyond generative AI, Roger highlights the continued importance of predictive models. In asset management, Broadridge leverages machine learning to analyse $100 trillion in asset data, enabling clients to forecast fund performance and make more informed decisions about product development and investment strategies.
The conversation then turns to the broader financial sector. At Sibos, where many attendees work in post-trade operations and payments, AI is already helping to automate high-volume tasks such as email triage and exception handling. Roger shares how Broadridge has applied AI to improve productivity within its own 1,000-person BPO unit, particularly in areas like fails research, where they’ve seen productivity gains of up to 50%.
On the topic of the future workforce, Roger offers a striking insight: today’s management teams are likely the last to lead a fully human workforce. As AI becomes an integral part of business operations, he emphasises the importance of creating new career paths and entry-level opportunities, particularly for junior employees. In this new environment, soft skills and the ability to manage agentic systems will be key differentiators.
When discussing the challenges of agentic AI, Roger acknowledges the complexities of non-deterministic outputs, testing, and deciding when to involve humans in the loop. However, he advocates for a pragmatic approach: learn by doing, with careful risk management.
Finally, both Roger and Graham reflect on the evolving role of AI as a business tool. While there’s no need to worry about the “feelings” of AI agents, Roger stresses the ongoing importance of human empathy and soft skills in delivering value to customers. As AI takes over repetitive tasks, people will be freed up to focus on more meaningful work.
The Future of Payments: AI, Fraud Prevention and Customer Trust with Nationwide and Virgin Money
with Isabel Pitt, Nationwide Building Society (left) and Louisa Dall, Virgin Money
With the recent acquisition of Virgin Money by Nationwide Building Society, this episode brings together two senior leaders, Isabel Pitt, Deputy Payments Director at Nationwide, and Louisa Dall, Head of Payment and Treasury Systems at Virgin Money, for a timely discussion on the future of payments, the role of AI, and the importance of customer-centric innovation.
The conversation opens with a focus on artificial intelligence, now a dominant theme across the financial services landscape. Isabel and Louisa explore how AI is being applied within payments, particularly in fraud detection, operational efficiency, and the personalisation of services. They agree that AI’s ability to interrogate large volumes of transaction data holds enormous potential, not just for improving bank processes, but also for enhancing the customer experience.
Trust remains a central theme throughout. Isabel emphasises the need for customer consent and transparency around data usage, noting that responsible use of AI must be built on a foundation of customer trust. Louisa adds that AI could enable more tailored and meaningful communication with customers, especially in the context of fraud prevention, where generic messages are often ignored.
The discussion also delves into interoperability and standardisation within payments. While domestic interoperability has advanced, both Isabel and Louisa highlight the ongoing friction in cross-border payments. The adoption of ISO 20022 is expected to be a key enabler, helping to streamline data exchange, reduce fraud, and improve resilience across payment systems. Interoperability, they agree, is the “dream”, but achieving it will require global collaboration across the financial ecosystem.
When asked about practical use cases, Louisa points to the use of AI in customer journey mapping and automated testing, which enables faster, more efficient product delivery. Isabel highlights Nationwide’s partnership with Visa, which uses AI-powered Smart STIPs to make faster, more accurate transaction decisions, ultimately improving outcomes for customers.
The episode concludes with a look at what excites both leaders most about the future. For Louisa, it’s the opportunity to use AI to proactively prevent fraud and protect customers without compromising the user experience. She challenges the idea of “frictionless” journeys, suggesting that the right kind of friction introduced intelligently through AI can actually enhance trust and security. Isabel agrees, adding that AI’s ability to help banks understand customer needs at scale is where real value lies.
With both organisations now under the same umbrella, this discussion offers a valuable glimpse into how collaboration, AI, and a commitment to customer trust are shaping the next chapter in payments.
