People often say they spend 80% of their IT efforts on maintenance, “keeping the lights on”:
Like all banks, our technology expenditure has been weighted towards maintenance and regulatory programs. These activities represented around 85% of our tech investment spend in 2024.
So, simplifying that, shutting down old things is a positive thing to do;
We are simplifying our IT, reducing the number of applications and increasing the use of APIs and standardized tools. Thanks to our IT investments since 2023, we have successfully de-commissioned over 700 applications with a target of 1,000 in 2028…AI is a key driver of efficiency.
Especially when there are new ways IT can help grow the business, not just keep running:
We already have 25 high-impact gen AI use cases in production. These include Leni, an AI assistant that pre-fills credit proposals by extracting relevant information from uploaded documents, saving around a third of the time spent on each of the file. We have identified more than 100 use cases that will be successfully embedded in our business during the planned horizon. To reiterate, banks that will win in the next phase are those that are embracing AI at scale, and we will be a winner.