Payments Industry Embraces AI Amidst Risk and Confidence Concerns
A new HCLTech report reveals the payments industry is racing towards AI adoption but faces significant risks and confidence issues.
- • Payments industry rapidly adopting AI solutions.
- • Concerns over security and compliance are prevalent.
- • Less than half have adequate risk management strategies.
- • Regulatory frameworks need to catch up with technology.
Key details
The payments industry is witnessing a rapid shift towards AI-driven solutions, yet a recent report from HCLTech highlights significant challenges regarding risk management and the lack of confidence in these technologies. The report, released on September 29, 2025, outlines that while there is an eagerness to adopt AI tools to enhance operational efficiency and customer service, many industry players feel unprepared for the associated risks.
Over 60% of payments executives expressed concerns about security and compliance issues linked to AI implementations. Additionally, less than half of the respondents reported having sufficient strategies in place to manage AI-related risks. This concern is compounded by the fact that the integration of AI in payments could lead to significant operational risks if not carefully managed.
Furthermore, the report indicates that regulatory frameworks are lagging in comparison to the speed of technological advancements. As one industry leader put it, "Without proper guardrails, the rapid pace of AI adoption could lead to unforeseen consequences that may undermine consumer trust."
In this context, the HCLTech report serves as a call to action for the payments sector to develop comprehensive risk management guidelines to accompany the adoption of innovative AI technologies. Stakeholders are urged to prioritize consumer confidence and regulatory compliance to fully leverage AI's potential in transforming the payments landscape.