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home / Thought Leadership and Industry Insights

Executive insights: Financial AI is no longer just an option

30 Jan 2025
featured executive insights financial ai is no longer just an option

It’s clear now more than ever that AI is here to stay in the world of financial services.

Just two years ago, AI might have been seen as a promising but still emerging technology that could supplement or enhance existing workflows in financial services. Today, it’s a necessity for organizations looking to stay ahead of an increasingly competitive financial industry.

But it’s not just the technology itself that is supercharging the industry – the combination of AI and human expertise working in tandem is giving forward-thinking lenders a leg up against the rest of the pack.

Ocrolus CEO Sam Bobley, COO Vik Dua and SVP of Growth David Snitkof shared their thoughts on the necessity of AI adoption, the factors driving it and the winning approach to AI integration.

Sam: Supercharge your team with AI – or risk falling behind

The transition to revolutionary technologies is rarely seamless, and resistance is a natural response to such transformative change. However, lenders must recognize that artificial intelligence (AI) is no longer optional—it has become a cornerstone of modern lending workflows.

Those who fail to adapt risk losing their competitive edge.

AI enables lenders to achieve unprecedented efficiency, automating tasks that once took hours into processes completed instantly or in mere minutes. While integrating AI into existing workflows may seem challenging, the dramatic improvements in speed and accuracy make it a necessity rather than an option.

However, it’s crucial to approach AI integration with intentionality. The goal of financial AI is not to replace teams but to amplify their capabilities. Thoughtful implementation ensures the technology complements human expertise, driving better outcomes without sacrificing trust or control.

Forward-thinking lenders who embrace AI gain a significant competitive advantage. By improving operational efficiency and unlocking new opportunities, financial AI is not just the future of lending but the key to staying ahead in an evolving industry.

5 ways ai is changing financial services

Vik: Striking the balance of people, process and technology

AI technology has made astounding progress over the years – today, it’s a valuable tool in and of itself, with applications that stretch far beyond financial services. But the real magic lies in how an intelligent application layer, combined with human-in-the-loop processes, delivers unparalleled value to end users.

The intelligent application layer transforms AI from innovative to transformative by combining context, seamless user experiences, and advanced automation. Paired with human expertise, it ensures nuanced decision-making, continuous learning, and adaptability to real-world complexities. This synergy frees employees from tedious, repetitive tasks so that they can focus on more strategic and meaningful work.

When lending teams let AI tools handle document processing, data validation, and income calculations—all labor-intensive, error-prone tasks when done manually—they can confidently direct their attention to building customer relationships and making critical financial decisions.

AI has become an integral part of daily life. At Ocrolus, we focus on creating intelligent AI solutions that complement human expertise and enable greater efficiency through technology users already know. Through this partnership of AI and people, we aim to redefine what’s possible in financial services and beyond.

David: Embrace AI for employee engagement and growth

AI adoption is a critical factor in today’s financial landscape – not just from the employer’s perspective but from the employee’s as well.

Those who understand the massive opportunity in financial AI want to work for organizations that use the latest technology. In other words, AI-forward firms will be able to attract and motivate forward-thinking employees while others struggle to attract top talent.

As AI becomes more prevalent both in and out of the office, there has never been a better time to empower employees to use the technology. We see what AI can do to make lending teams’ lives easier every day. In one example, Hometrust Bank reduced keystrokes from several hundred to fewer than 100 per mortgage loan, saving thousands of hours annually.

A growing number of professionals are already using AI and have seen these benefits in their personal lives. Imagine telling an employee who uses AI to plan recipes for her family, craft magical bedtime stories, and organize her personal finances that her ideas to use technology at work are not welcome! Employers who haven’t embraced AI-centric creativity risk closing the door on the talent that is key to their companies’ future. The most productive and ambitious individuals will want to leverage leading technologies to achieve and succeed in their careers. They will gravitate towards companies that embrace AI—organizations that surround their best people with cutting-edge technology, talented peers, and abundant learning opportunities.

With the right balance of people, process and technology, AI is helping lenders maintain a competitive edge in operations and risk management and in the market for top talent. To learn how Ocrolus can supercharge your lending team with AI, book a demo today.

Key takeaways:

  • In today’s financial landscape, AI is more than just an option – it’s a mandatory tool for lenders looking to stay competitive.
  • Lenders can maximize the impact of technology by combining AI tools with the right balance of people and processes.
  • As AI becomes more prevalent, employees will increasingly look to work with AI-forward companies that recognize the value of technology.