Produced by:
Unlocking the Future of Banking with AI
Abhay Chrungoo is Co-Founder and CEO of FintelligenX, an exciting startup pioneering the use of artificial intelligence to transform banking. With over a decade of experience driving innovation at major financial institutions, Abhay brings valuable perspective on the industry’s evolution and AI’s transformative potential. In our wide-ranging conversation, Abhay provided fascinating insights into FintelligenX’s genesis, the problems AI can help solve in banking, and his vision for the future of financial services powered by artificial intelligence.
Can you start by giving some background on yourself and what sparked the idea for FintelligenX?
My journey is closely tied to my co-founder Kamal. We've been navigating the UK tech landscape and banking for almost a decade, focusing on leadership, R&D and delivery of pioneering banking platforms. We’ve executed major programs like open banking, cloud migrations, data platforms, and worked on integrating intelligence into areas like credit underwriting and fraud prevention.
Over time, our understanding of AI's potential grew. We saw attempts to integrate it into banks, but they were just skimming the surface. This represented a lost opportunity. We realised there was significant potential waiting to be explored, and that's how FintelligenX emerged - an enabler for the AI-based disruption on the horizon.
"
We realised there was significant potential waiting to be explored, and that's how FintelligenX emerged - an enabler for the AI-based disruption on the horizon.
When you look at the future of banking, what most excites you about the transformation AI can enable?
There are real-world problems AI can help solve. For example, financial inclusion is still limited, with credit unattainable for 30-60% of the population. AI could expand access dramatically. On the other hand, financial crime has risen as criminals exploit AI - we have to level the playing field.
Our aim is that FintelligenX's AI-native technology will forge relationships that tangibly improve lives. We provide the tools and institutions drive the innovation. I'm excited by the prospect of AI touching every aspect of banking – from customer experiences to risk management. The future is a more personalised, intelligent banking ecosystem.
"
The future is a more personalised, intelligent banking ecosystem.
That sounds very ambitious. How will you actually go about enabling this transformation?
Our approach has two exponential components. First, we utilise AI for lightning-fast code generation, which allows us to build and deploy new solutions 10-20x faster than the status quo. We call this code engine "Hyper" because of the speed advantage it provides.
Second, we take this accelerated technology and apply it to real-world banking challenges – expanding financial access, combating fraud and personalising experiences. By establishing an insurmountable lead in tech velocity, we can then rapidly develop innovations that drive exponential impact.
"
We utilise AI for lightning-fast code generation, which allows us to build and deploy new solutions 10-20x faster than the status quo.
Let's discuss Hyper. Can you explain what it is and the problems it solves?
Cloud readiness is key to AI adoption. We saw banks struggle to build cloud platforms from scratch, a multi-year process costing millions. Hyper expedites this dramatically, cutting timelines by 6-24 months and costs by millions. We use advanced generative AI to auto-generate contemporary cloud architectures and infrastructure as code attuned to each bank's needs—all in just a week. Organisations can exploit cloud capabilities as they stand today, not as they were two years ago.
Through a simple natural language conversation, Hyper delivers an enterprise-grade, secure platform covering security, compliance, and controls - everything necessary for audit-ready infrastructure. The generative technology gives us tremendous speed advantages over manual approaches. With Hyper, the days of needing armies of engineers are behind us.
"
We use advanced generative AI to auto-generate contemporary cloud architectures and infrastructure as code attuned to each bank's needs—all in just a week.
How does Hyper stand out compared to other tailored cloud solutions?
Our core differentiator is the generative technology perfected for Financial Services. No one else matches our ability to reliably reproduce complex industry and regulator grade solutions through machine generation. As a result, we can address diverse needs through simple conversations.
Hyper also provides seamless integration into existing toolsets, avoiding disruption. The infrastructure comes pre-embedded with controls, detections, and auditability. We make it easy to prove security and compliance to regulators. The transparency and configurability give banks confidence and control over their tech stack.
"
Our core differentiator is the generative technology perfected for Financial Services.
Beyond Hyper, what else is FintelligenX working on? What's next for your product roadmap?
We're building XRay, a technology platform with intelligence at its core. Our focus is on authorised push payment (APP) fraud and continuous customer compliance—major upcoming regulatory changes make this area ripe for innovation. Our aim is to help banks prevent and detect APP fraud while also managing reimbursement liability burdens.
Looking ahead, explainability will be key for AI acceptance. Solutions need transparency, adaptability to local regulations, and audit trails demonstrating accountability. We envision a layer of supervisory tech that creates stakeholder comfort—institutions, regulators, and customers.
"
Our focus is on authorised push payment (APP) fraud and continuous customer compliance—major upcoming regulatory changes make this area ripe for innovation.
As a pioneering company, what are the biggest challenges bringing AI into a complex, regulated sector like banking?
Change takes time, especially in banking. To drive adoption, AI must deliver tangible customer benefits, not just cost savings. We have to answer questions around fairness, ethics, and accountability. Banks need help navigating unclear regulatory waters too. Collaboration is key – regulators should work with innovators to shape supportive policies.
There are also technical hurdles integrating AI into legacy systems built up over decades. Starting from scratch is ideal but costly. FintelligenX aims to smooth that transition. Overall, introducing AI in banking requires patience, but the potential makes it worthwhile. We're committed to an intelligent future that creates opportunities.
"
Overall, introducing AI in banking requires patience, but the potential makes it worthwhile. We're committed to an intelligent future that creates opportunities.
Looking 5-10 years out, what does the future of banking look like in your vision? Will AI transform operations?
Our north star is autonomous banking - with enough intelligence, the entire institution could, in principle, run without human involvement. But realistically, I see AI augmenting rather than replacing workers. People will handle more complex cognitive tasks, while AI excels at high-volume routine work.
The change will be gradual, but integrating intelligence is inevitable. FintelligenX is excited to pioneer that transformation responsibly to unlock new possibilities. The future of banking with AI at its core, is incredibly bright.
"
People will handle more complex cognitive tasks, while AI excels at high-volume routine work.
What advice would you give to other AI entrepreneurs?
Stay focused on solving real customer problems, not just futuristic visions. Build value incrementally through small innovations. Talk to users, understand needs, and introduce solutions steadily. Don't underestimate the difficulty of integrating AI into complex legacy environments and regulated sectors. Have patience and take the long view. Above all, keep ethics central to product decisions. If you improve lives responsibly, success will follow.
"
Stay focused on solving real customer problems, not just futuristic visions.
Accelerate your cloud migration with Hyper's AI-powered solutions. Achieve speed, efficiency, and compliance like never before.
At FintelligenX, we are a team of innovators and thinkers dedicated to transforming banking with AI. Our expertise spans AI technology, digital banking, and risk management, positioning us at the forefront of next-generation banking solutions.
Share this page