The financial services sector is a main pillar of the UK economy, and it’s transforming dramatically.

AI adoption is complex, and cyber threats are increasingly sophisticated, creating problems for institutions that demand strategic and agile solutions. As one of the UK’s most trusted consultancies for providing IT and compliance solutions to tier-one banks, we’ve seen first-hand the intricacies of GDPR regulations and beyond.

We understand that a one-size-fits-all approach simply doesn’t cut it.

The financial services industry has particular operational difficulties requiring tailored solutions from a partner with deep understanding.

This article will explore key operational challenges identified through industry research. It will demonstrate how strategic technology and data consultancy can offer the necessary support for institutions to not only survive, but also achieve success.

Navigating the boundaries of AI and automation

With IMF.org observing ‘60% of advanced economy jobs being exposed to AI’, it can be argued that this is no longer simply an IT department issue – it’s a strategic imperative.

Rather than simply implementing AI, it’s crucial to first correctly identify the business goals and problems that need solving. This understanding is essential for achieving the right balance between automation and human oversight.

For UK financial institutions, this translates to optimising customer onboarding, enhancing KYC checks, and developing intelligent chatbots based on natural language and behavioural data.

We can help you identify these areas and implement solutions that deliver tangible results, aligning your investments in AI and automation with your strategic objectives.

Using data to guide a successful digital transformation

Capitalising on AI and automation hinges on leveraging clean, comprehensive data. Efficiently managing data assets is also critical for broader digital transformation initiatives, including data analytics and legacy system integration.

The rise of open banking further intensifies competition, demanding innovative solutions and potential partnerships with fintechs. Understanding “who has your data and what they’re doing with it” is a critical concern. Infotel UK Consulting supports organisations by

• building effective data strategies
• applying sophisticated analytics
• and smoothly connecting existing systems

to fully leverage their data assets and achieve a stronger market position.

Meeting new regulations and managing new risks

As Reuters highlights, “integrating AI into the financial sector” brings complex legal and regulatory challenges, including privacy, cross-border dataflows, and GDPR compliance. The Financial Services and Markets Act 2023’s rules on sustainability mean companies must commit to ethical and inclusive practices. Also, effective risk management is crucial.

Our consultancy offers expert help with understanding these complex regulations, creating solid compliance plans, and building ethical AI strategies that fit your organisation’s principles.

Defending against cyber-threats and other potential disasters

The increasing complexity and volume of cyber threats continue to drive significant security spending. Experts predict that global expenditure on information security will reach over $212 billion in 2025, highlighting the ongoing need to address a dynamic threat landscape.

For financial companies navigating complex financial technology and data compliance, Infotel UK Consulting offers tailored solutions. We provide clear guidance and implement technical solutions, potentially using AI-powered tools like Deepeo (our GDPR compliance tool, showcasing our data management expertise) to integrate new data requirements into your existing systems.

Infotel UK Consulting is a strategic tech consultancy for financial companies, understanding specific operational demands and providing tailored solutions essential for success. We prioritise listening to your challenges and delivering solutions that directly address your immediate needs, helping you navigate the complexities of AI, data management, regulatory compliance, and cybersecurity, empowering you to achieve your operational goals in the financial sector.