While AI is transforming financial services through fraud detection and operational improvements, experts warn it also equips criminals with more sophisticated attack methods, prompting a reassessment of security strategies amidst rapid technological advancements.
Artificial intelligence is already altering how financial firms spot fraud, run operations and deal with customers, but it is also arming criminals with faster, more convincing attack methods, according to a podcast interview on Analytics Insight with Yogesh Jadhav, chief technology officer at Choice International. Jadhav said generative AI is helping cyberattacks move more quickly and making many scams harder to identify, which raises the stakes for banks and other financial services groups.
He argued that one of the biggest challenges is that AI systems do not always behave in a predictable way, making them harder to secure than conventional software. Jadhav said financial institutions need tighter access controls, detailed audit trails and human oversight, and he stressed that cybersecurity should be built into the full life cycle of AI systems rather than added later as an afterthought.
His comments come against the backdrop of Choice International’s broader technology push. According to company interviews with CioTechOutlook and Express Computer, the group has more than 200 in-house technical specialists and uses a hybrid infrastructure, with compliance-sensitive systems kept in its own data centre and other workloads scaled through AWS. Jadhav has said AI has cut deployment time by more than 30% without hurting quality, but only after the company tested use cases in specific departments with clear success criteria before expanding them.
That emphasis on governance reflects a wider shift in fintech, where security and compliance are increasingly being folded into core product development. In interviews with BW Security World and TechObserver, Jadhav said fraud remains one of the sector’s biggest threats and argued that compliance technology and event-driven architecture are helping reshape finance as digital operations expand across branches and partner networks. The larger message from his latest remarks is that the same tools improving efficiency in finance are also creating new attack surfaces, forcing firms to treat security as part of innovation, not a brake on it.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
