Visa research finds AI could reshape European retail banking by 2030
A Visa study of banking leaders across 17 European markets finds widespread AI adoption, but says how banks use it may determine the scale of their gains.
Nicosia, Cyprus. Artificial intelligence is set to reshape retail banking in Europe by 2030, with early adopters expected to pull ahead of competitors, according to research from Visa. The study points to a shift from experimentation to execution.
Banking leaders expect major change
The study, authored by Visa Consulting and Analytics (VCA), drew on responses from 325 senior decision-makers across 17 European markets. It found that 86 per cent of banking leaders believe AI will reshape retail banking by 2030, while 61 per cent expect early movers to dominate their markets.
More than 90 per cent of European banks already use some form of AI across their major business functions.
How banks use AI may shape results
The research identifies a divide between banks using AI mainly to improve their current operating model and those embedding it in decisions affecting future growth and customer outcomes.
Almost half of banks, 48 per cent, focus their AI investment on operational efficiency or employee productivity. Fewer than one in three, 30 per cent, cite customer experience or fraud prevention as their primary driver.
Organisations using AI in high-volume, real-time settings to improve customer outcomes, including real-time decision-making, fraud detection and personalised services, are 40 per cent more likely to achieve transformational gains. The study says AI has a more limited impact that tends to plateau sooner when applied more peripherally, such as in product development or lending.
The research also identifies distinct approaches to adoption. It classifies 48 per cent of banks as “Efficiency Seekers”, focused mainly on cost reduction and operational efficiency.
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