Financial Sector AI Deployment: Evolution from Research to Realization - Implementing Artificial Intelligence in Banks and Financial Institutions
In the dynamic world of finance, technology plays a crucial role in modernization and transformation. One company at the forefront of this revolution is VASS Financial Services, a Madrid-based firm founded in 1999. With a team of experienced professionals, VASS helps fintechs, banks, and insurers reach their technological transformation goals.
At the helm of VASS is Javier Pérez García, the Global Director. Recently, at Spring in San Diego, California, Pérez García shared his insights on the importance of aligning three major skills for successful AI implementation in financial institutions.
Pérez García emphasized the significance of experience in deploying AI. He believes that high expectations within an organization may not be met without the experience of someone else to help define and identify if an investment is going to be successful in the early stages of a project.
The Keys to Successful AI Execution
According to Pérez García, financial institutions can effectively transition from AI experimentation to execution by focusing on strategic alignment, operational readiness, and skill development.
Strategic Alignment
Institutions must embed AI where it delivers measurable returns, focusing on risk management, efficiency, customer personalization, and compliance. This requires linking AI projects directly to strategic goals, not just technology exploration.
Operational Readiness
Transitioning requires scalable data pipelines, integration with legacy systems, and continuous monitoring and updating of AI models in production to maintain accuracy and security.
Skill Development
Successful execution hinges on teams that combine technical expertise, domain knowledge, change management and collaboration skills, and expertise in AI ethics and governance.
Ensuring AI Deployment is Transparent, Explainable, and Compliant
To ensure AI deployment is transparent, explainable, and compliant with regulations, financial firms need governance structures that oversee model performance, risk controls, and ethical use. Building prototypes to test AI models on relevant data helps uncover limitations early and supports continuous improvement through real-world feedback.
Leveraging AI-Powered Tools and Platforms
Integrating advanced AI services, such as multimodal AI agents or embedding AI into workflows, can improve user experience and operational efficiency while enabling monitoring and guardrails to maintain quality and compliance. Preparing staff to partner with AI systems is also crucial, as they need training to interpret AI outputs, manage exceptions, and make decisions informed by AI insights.
In summary, the critical skills and experiences for effective AI execution in financial institutions span technical AI capabilities, financial domain expertise, governance and ethical awareness, and operational change management. Institutions should focus on strategic value alignment, governance frameworks, continuous model monitoring, and multi-disciplinary team development to move AI from experimentation to consistent, trusted deployment.
VASS Financial Services is leveraging AI to transform and enhance financial services, leading global modernization programs for banks and fintechs, and providing digital solutions to customers in various sectors, including banking, insurance, telecommunications, retail, media, and public administration.
- In the context of VASS Financial Services, Javier Pérez Garciá, the Global Director, highlighted the significance of skill development for successful AI implementation in financial institutions, emphasizing the need for teams that combine technical expertise, domain knowledge, change management and collaboration skills, and expertise in AI ethics and governance.
- By focusing on strategic alignment, operational readiness, and skill development, financial institutions can effectively transition from AI experimentation to execution, ensuring their AI deployment is transparent, explainable, and compliant while leveraging AI-powered tools and platforms to transform and enhance financial services.
