AI Innovations Drive Data-Centric Shift at Sibos 2025

At Sibos 2025 in Frankfurt, Akber Jaffer, CEO of SmartStream, discussed the evolving role of artificial intelligence (AI) in financial services during an interview with FinextraTV. Jaffer highlighted ongoing conversations about AI innovations and the company’s strategic shift toward becoming more data-centric, emphasizing the need for improved data management practices across the industry.

During the discussion, Jaffer pointed out that many institutions possess federated data that requires significant enhancement. He underscored the critical importance of maintaining data hygiene to meet the demands of modern innovation. According to Jaffer, the financial sector is poised for advancement, equipped with the necessary tools to succeed. However, he cautioned that it is essential for organizations to focus on ensuring that existing data sources remain relevant in this new era.

Emphasizing Data Hygiene and Innovation

Jaffer illustrated that as financial institutions strive to harness the power of AI, they must also prioritize data integrity. The conversation at Sibos 2025 reflected a broader industry recognition of the challenges posed by outdated or poorly maintained data systems. He stated, “Without clean and accessible data, the potential of AI remains untapped.” This statement encapsulates the urgency for organizations to address their data management practices.

The CEO also mentioned that a renewed focus on data hygiene not only supports AI integration but also enhances overall operational efficiency. By investing in data quality, institutions can better leverage insights and drive innovation, ultimately leading to improved customer experiences and competitive advantages.

A Vision for the Future

As the financial landscape continues to evolve, Jaffer expressed optimism about the future potential of AI in transforming business processes. He noted that the combination of robust data management and innovative AI solutions could lead to significant advancements in areas such as risk management, compliance, and customer service.

In conclusion, the discussions at Sibos 2025 highlighted the importance of addressing data challenges as a prerequisite for successful AI implementation. Akber Jaffer’s insights serve as a reminder that while technology can drive progress, the foundation built on clean and reliable data is crucial for sustainable growth in the financial sector.