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27 Jan, 14:04

AI, digital ruble to shape banking digitalization trends in 2025 — analysts

The trend of utilizing no-code technologies for building websites, apps, chatbots, and other digital solutions is expected to persist

MOSCOW, January 27. /TASS/. The adoption of artificial intelligence (AI) in banking processes, smart contracts powered by the digital ruble, and advancements in cross-border payment services will define the key trends in banking digitalization in 2025, the press service of the Skolkovo Foundation stated.

The integration of artificial intelligence into banks' operational workflows and customer service interactions is gaining momentum. For instance, it is already being applied in loan issuance and as a virtual assistant in client support. "The introduction of artificial intelligence in the banking sector will enhance the efficiency of back-office operations and development teams. Well-trained foundational models and specialized solutions based on them are now sufficiently advanced to achieve this," Abanking CEO Nikolay Adeev explained, as quoted by the press service.

The trend of utilizing no-code technologies for building websites, apps, chatbots, and other digital solutions is expected to persist. "The appeal of no-code platforms stems not only from the accelerated pace of hyper-automation but also from banks' desire to minimize the time required to move from concept development to market-ready solutions. Cost optimization for launching new products and swiftly adapting them to market demands has become particularly crucial amid rising interest rates and a slowdown in lending activity," the press service highlighted.

Digital financial assets (DFA) and the digital ruble will also remain central in 2025. Digital financial assets have already emerged as one of the fastest-expanding trends in the banking industry. Experts predict the DFA market volume to near one trillion rubles ($10.3 billion) this year. Transactions leveraging the digital ruble will drive the "digital transformation" of associated infrastructures, enabling more adaptable and practical smart contracts, Adeev remarked while discussing the digital ruble.

Advancing services for cross-border payments will serve as another key growth area for the financial sector. These services will not only incorporate various payment chain mechanisms but also utilize digital currencies issued by central banks in partner nations.