PRASHANT JAJODIA
DIGITAL BANKING
PRASHANT JAJODIA
TITLE : MANAGING PARTNER & FINANCIAL SERVICES SECTOR LEAD
COMPANY : IBM INDUSTRY : CONSULTING , FINSERV LOCATION : UK
Prashant leads the Financial Services Sector for IBM Consulting in the UK and Ireland . In this role , he has the P / L responsibility of IBM ’ s consulting business that supports financial services organisations in the region across business transformation , technology strategy , implementation and delivery .
“Fintegvestments ”
“ By analysing massive amounts of transaction data , AI can identify unusual activity and flag potential fraud before it becomes a bigger problem ,” he explains .
This proactive approach can save banks significant amounts of money and protect customers from financial harm .
The rise of generative AI in banking AI has , of course , been deployed by banks for some time , but the rise of Gen AI is spurring transformative change .
Ryan Cox , Co-Head of AI at Synechron , says : “ Banks are already using Gen AI to improve machine learning algorithms , but , in 2025 , it will become an even more significant focus .
“ By creating synthetic data to augment limited data sets , Gen AI can model rare scenarios for testing , helping banks better prepare for risks and opportunities .”
The use of GenAI to create synthetic data is a game-changer for banks , particularly in areas where real-world data may be limited or difficult to obtain .
For example , in modelling rare financial events or testing new products , Gen AI can generate realistic , diverse datasets that allow banks to train their algorithms more effectively and comprehensively .
Prashant highlights the top three use cases for Gen AI in financial services : customer service , risk management and software development .
“ Large Language Models ( LLMs ) can perform tasks such as summarisation , content generation , classification , semantic search , code generation and extraction , with estimates suggesting a 40 % productivity gain in many of these areas ,” he reveals . fintechmagazine . com 71