2 in 5 APAC finance firms lag in AI or machine learning

Survey shows that 61.2% now use AI or machine learning in live settings.

Generative artificial intelligence (AI) is moving from trial projects to real-world use across the financial sector in Asia-Pacific (APAC), as 61.2% of organisations have already adopted AI or machine learning technologies, according to Money 20/20’s whitepaper.

A further 35.3% are still in the exploratory stage, whilst  3.5% said they have not adopted the technologies, the report 2026: The Future of Fintech in APAC revealed.

Whilst machine learning has been used for many years in areas such as credit scoring, fraud detection and anti-money laundering, generative AI is now expanding how financial institutions manage data, customer interaction and internal processes.

Generative AI systems are increasingly being used to analyse unstructured data, support natural language conversations with customers and coordinate complex workflows. 

The technology is also evolving into “agentic AI”, where systems can plan and execute tasks rather than simply generate text.

One example highlighted in the report involved OCBC Bank. A customer submitted a complex complaint that previously would have required staff to manually categorise the issue and draft a response. 

The bank’s generative AI system, called “Listen and Respond”, processed the feedback in real time and produced an immediate reply. 
The bank said the system helped improve its Net Promoter Score by between 20% and 30%.

Mizuho Bank is also using AI to improve internal operations and customer service.

The bank has introduced internal tools that allow service representatives to quickly access customer histories and find answers more efficiently. 

Multimodal AI systems are also being tested to process voice, video and sentiment data at the same time, giving staff a broader view of customer needs.

Despite wider adoption, financial institutions remain cautious about risks linked to AI decision-making. Industry participants cited concerns that credit decisions based solely on historical data could reinforce gender stereotypes or historical bias. 

Some respondents also raised concerns about the lack of transparency in generative AI systems and the challenge of keeping up with evolving regulations.

To manage these issues, banks are increasingly using regulatory technology and supervisory technology tools to support compliance and risk management. 
These systems use AI to help institutions meet regulatory requirements whilst continuing to develop new services.
The report also asked respondents which emerging technology is having the biggest impact on fintech in Asia today. 

AI ranked first at 36.4%. Blockchain and distributed ledger technology followed at 17.9%, whilst cybersecurity accounted for 15.7%. API applications were cited by 9.2% of respondents, and biometrics by 7.6%. 

Cloud computing accounted for 4.7%, robotic process automation for 4%, and quantum computing for 2.4%. Other technologies made up just over 6%.

The report concludes that the financial industry is moving from AI as a chatbot tool to AI as an autonomous system capable of executing tasks. 

However, many respondents believe the most significant effects of the technology are still to come.