P. Venkatesh, Director of Thought Leadership at Maveric Systems shares how integrated ecosystems are reshaping banking experience
Over the past 25 years, banking technology has undergone a radical transformation, shaped by evolving banking products, emerging tech innovations, and the rise of integrated ecosystems. In conversation with ET Edge Insights, P. Venkatesh, Director of Thought Leadership at Maveric Systems shares, “One major shift in banking products is the rise of alternative assets, particularly digital assets like cryptocurrencies, stablecoins, and Central Bank Digital Currencies (CBDCs). Recognized by central banks and large investment firms, these assets have transitioned from niche investments to essential components of diversified portfolios.”
Venkatesh also highlights the role of deep tech in transforming banking operations. “Artificial Intelligence (AI) and Machine/Deep Learning (ML/DL) are enhancing everything from fraud detection to personalized customer experiences. Distributed Ledger Technologies (DLT), such as blockchain and tokenization, are improving transparency, security, and efficiency in financial transactions,” he explains.
As banking technology evolves, industry leaders are proactively preparing for the future by tracking three key trends shaping the sector:
- Transformation of Banking Products: Financial institutions are increasingly integrating digital currencies and decentralized finance (DeFi) solutions into their offerings. These advancements have the potential to reshape payments, lending, and wealth management by enhancing accessibility, efficiency, and security.
Venkatesh explains, “As these technologies mature, financial advisors will need ongoing training to stay informed about these new asset classes and their nuances to navigate the journey.” - Advancements in AI and Deep Tech: The adoption of AI-driven frameworks is accelerating, enabling banks to optimize data provisioning, enhance decision-making, and implement scalable automation. A platform-led approach, combining proprietary and third-party AI solutions, is becoming essential for driving digital transformation while maintaining compliance and ethical standards.
- Expansion of Open Banking and Ecosystem Integration: Open banking frameworks and API-driven architectures are streamlining partner onboarding, data exchange, and service integration. By fostering collaboration between banks, fintechs, and third-party providers, financial institutions can create seamless, customer-centric digital ecosystems.
AI, Quantum Computing, and Decentralized Finance
Artificial intelligence is revolutionizing banking, “AI enables automation at levels previously unattainable. Tasks that required human intervention, such as gathering data at the customer or transaction level, can now be handled by agentic AI, eliminating manual effort,” Venkatesh notes.
He also emphasizes AI’s role in compliance and decision-making. “AI makes knowledge that was traditionally locked away in reports or notes easily accessible and searchable. By recognizing patterns in vast amounts of data, AI can automate systemic processes, reducing the need for human involvement in routine tasks.”
Additionally, the rise of Decentralized Finance (DeFi) platforms is disrupting traditional banking models. “Financial advisors will need ongoing training to stay informed about new asset classes and their nuances to navigate this journey,” he adds.
As the lines between banking and fintech continue to blur, banking tech providers focused on helping banks modernize their ecosystems. “We assist banks in building a connected, resilient, and forward-thinking ecosystem that supports their ongoing evolution in digital banking,” says Venkatesh. He highlights key areas of fintech integration:
- Retail Banking: “Key services include peer-to-peer lending, fund transfers, and wealth management.”
- Corporate Banking: “Integrated cash management, supply chain financing, and comprehensive dashboards are essential offerings.”
- Wealth Management: “Alternative asset providers, market data feed analysis, and investment decision-making tools are crucial elements.”
To stay ahead of these changes, Maveric has established innovation labs. “These labs enable our associates to continuously learn and upskill, ensuring they remain at the forefront of industry advancements,” Venkatesh explains.
Regulatory compliance remains a critical concern for banks, and Maveric is leveraging AI-driven solutions to streamline these processes. “Maveric’s solution integrates all necessary data into a single platform, providing a 360-degree view of Anti-Money Laundering (AML) status and reducing compliance failure rates by 30%,” Venkatesh states.
Banks are increasingly leveraging AI to enhance regulatory compliance and risk management. Venkatesh shares, “The AI-powered system links regulatory changes to impacted customers, ensuring timely compliance and shifting banks from reactive status reviews to a continuous flow of up-to-date information.”
The Road to 2030 and Beyond
Looking beyond 2030, adaptability and collaboration will be crucial for success in banking technology. “Success will depend on the ability to work seamlessly with multiple stakeholders, continuously improve knowledge, and integrate new technologies as they emerge,” says Venkatesh.
While AI is a driving force today, Venkatesh cautions that it’s just one part of the journey. “The key to success will be staying ahead of evolving trends. As technology evolves, firms must remain agile, ensuring they can incorporate deep tech, adaptive ecosystems, and changing lifestyles into their solutions.”
As the banking industry continues to navigate an era of rapid transformation, Maveric Systems is positioning itself as a leader, helping banks integrate cutting-edge technology while maintaining regulatory compliance and fostering innovation.
About The Author
As the Co-founder and whole-time Director at Maveric, P Venkatesh (PV) leads the global thought leadership function aimed at shaping and promoting Maveric’s perspectives as well as expertise in the banking technology space. By building relationships with industry influencers, partners and BankTech ecosystem leaders, PV drives creation of impactful frameworks, methodologies and landscape reports that provide informed perspectives on new age technologies that shape the BankTech space.
Article Originally Published in ET Edge Insights
