• AI and tokenisation drive efficiency and innovation 
• Streamlining banking operations and enhancing customer relationships
• Tokenisation revolutionises asset management on programmable ledgers

Artificial intelligence (AI) and tokenisation will reshape finance, driving efficiency, personalisation, and innovation in the financial sector, according to NetXD chairman Suresh Ramamurthi. 

In a conversation with Emmanuel Daniel, chairman of The Asian Banker, Ramamurthi outlined a future where financial institutions will wield AI to not only streamline operations but also to forge deeper, more personalised connections with customers.

He tackled the large action model, similar to consumer apps like Rabbit but designed for enterprise use, enabling seamless process integration and automation within organisations. The integration of AI into the ledger system opens up new possibilities for enhanced automation and efficiency. 

Ramamurthi’s journey from tech giant Google to the banking sector serves as a backdrop to his exploration of cutting-edge technologies. His deep dive into blockchain and decentralised finance was sparked by a personal curiosity in the Bitcoin ledger, leading to the creation of NetXD, a platform for programmable ledgers that harnesses the power of blockchain and AI. 

He draws parallels between this integration and historical advancements in microprocessor technology, foreseeing a future where AI and ledger technologies work in tandem to drive innovation.

Tokenisation emerges as a fundamental principle for representing financial assets within programmable ledgers. Ramamurthi emphasised its potential to radically transform asset management and lending practices, citing examples of tokenising physical assets for improved efficiency.

He discussed Zero Trust architecture that ensures security and verification at each data interaction.  By leveraging algorithms like the Elliptic Curve Digital Signature Algorithm, Zero Trust architecture establishes a foundation of trust in an untrusted environment.

Real-world use cases in banking, such as wage advances and peer-to-peer transfers, illustrate the tangible benefits of tokenisation and AI-driven automation. While traditional core banking systems face significant challenges in integrating new technologies into outdated architecture and design, Ramamurthi stressed that AI-driven systems provide more personalised, efficient, and secure banking services.