Payments industry races toward AI-driven future, but lacks guardrails and confidence: HCLTech
HCLTech, a leading global technology
company, announced the findings of its latest payments industry research. The
research underscores a payments industry advancing rapidly toward an
AI-enabled, autonomous future, while simultaneously confronting significant
challenges related to trust, regulatory preparedness, and the constraints of
legacy systems and infrastructure.
Additional key
findings include:
- AI
is everywhere — but trust is not. While 99% of organizations use AI in
payment operations, 91% of executives express concern about its risks, and
60% find current AI fraud detection tools ineffective.
- While
the future is autonomous, leaders aren’t ready. Over half (52%) of
organizations expect to become autonomous within 18–24 months, yet only
17% are fully operating in that mode.
- Innovation
wins, but modernization is lagging. Over half of executives (52%) are
implementing transformation strategies now and 58% prefer adopting
innovative methods over refining legacy ones, but just 20% of companies
have cloud native, real-time data systems to support innovation.
- Customer
expectations are driving urgency. 87% of executives fear losing customers
without instant payment capabilities.
- Europe
is cautious and lags in readiness. 12% of continental European executives
are skeptical about the long-term value of Agentic AI and 57% would prefer
to iterate on an established product rather than try something new.
“Payments leaders
are embracing innovation, but the gap between ambition and readiness is stark,”
said Srinivasan Seshadri, Chief Growth Officer and Global Head, Financial
Services at HCLTech. “This research underscores the need for Responsible AI
governance, infrastructure modernization and strategic clarity to thrive in the
evolving payments landscape.”
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