February 2025: Top five AI stories of the month
The topic of artificial intelligence (AI) continues to dominate headlines and narratives throughout the world of fintech. Here, we take a look back at five of the top AI stories from February, featuring CaixaBank, BNY, OpenAI, and more.
BNY boosts AI transformation strategy with multi-year OpenAI partnership
BNY will utilise OpenAI’s tech to enhance its Eliza platform
US banking heavyweight BNY has entered into a new multi-year partnership with OpenAI to accelerate its AI transformation initiatives.
The bank says it will utilise OpenAI’s technology to “enhance its proprietary enterprise AI platform, Eliza, and scale AI-powered solutions across its global operations”.
Launched last August, Eliza helps BNY employees streamline workflows with AI-powered insights, with over half of its staff using it regularly.
Now, through the new partnership, the bank will integrate OpenAI’s advanced reasoning model and ChatGPT Enterprise to enhance its capabilities.
UK government launches inquiry into use of AI in banking and financial services
The UK Treasury Committee has made a call for evidence as part of a newly launched inquiry set to consider the increasing impact of AI on banking, pensions, and other financial services.
The inquiry will explore how the UK financial sector can leverage AI while managing risks and protecting consumers, especially the vulnerable. The committee seeks input from industry professionals and the public, with responses due by 17 March.
From the response, the committee will look to gain a better understanding of how UK firms are using AI, the potential impact on employment in the sector, as well as the UK’s competitiveness when compared to other countries.
Fraud prevention platform Sardine secures $70m Series C, invests in agentic AI
Sardine raises $70m Series C
AI-powered fraud prevention and risk management platform Sardine has raised $70 million in a Series C funding round led by US VC firm Activant Capital, with plans to roll out new AI agents for risk and compliance teams.
In a statement, Sardine says that the capital will be used to launch “a suite of intelligent agents designed to streamline fraud and compliance operations, reduce manual workloads, and cut costs for financial institutions”.
The company adds that these agents will be utilised to “automate critical investigation and compliance processes, allowing risk teams to focus on complex cases while ensuring accuracy and regulatory compliance”.
Spain’s CaixaBank launches “Cosmos” initiative to drive AI-enabled transformation
Spanish banking group CaixaBank has unveiled its latest “process and technology roadmap”, dubbed “Cosmos”, aimed at developing new services, simplifying operations, and boosting “agility and commercial capability” across the bank’s business areas.
The bank says the initiative includes efforts to renew “current channels” and develop new commercial and customer service features through the use of GenAI.
This includes plans to leverage AI to automate “business processes and transactions”, with the aim of improving decision-making and reducing the “administrative load in branches”.
CaixaBank adds that the technology will enhance employee and customer interactions across physical, remote, and digital channels. Cosmos will also look to expand digital self-service, develop AI agents, and improve cloud data infrastructure and real-time analytics.
Lloyds Banking Group appoints Dr Magdalena Lis as head of responsible AI
Dr Magdalena Lis joins Lloyds Banking Group
Lloyds Banking Group has appointed Dr Magdalena Lis as its new head of responsible AI, effective 3 February.
The former Toyota analytics lead is now overseeing the “responsible development and use of AI” across the group, with specific attention to safeguards and product enhancement.
Lis joins a growing AI team at Lloyds that currently includes more than 200 specialists, including Rohit Dhawan, who the group hired as director of AI and advanced analytics in August.
In comments, Lis says AI “represents a big opportunity” for Lloyds, while Dhawan adds that the group is “investing and recruiting at pace”.
