Why Community Financial Institutions Need an AI Operating System
The financial services landscape is at an inflection point. Recent industry data shows AI adoption by UK financial institutions doubled from 32% to 63% between 2023 and 2024, with over 80% of banking executives now viewing AI as a business opportunity. Yet this transformation is uneven - while large banks invest heavily in AI, community financial institutions often lack the infrastructure to compete.
Working with over 300 credit union staff across Scotland, we've observed a critical reality: small teams are spending much of their time manually maintaining, distributing, and correcting data - constraining their bandwidth for value-added activities. This isn't just an efficiency problem; it's preventing vital community institutions from achieving the economies of scale needed to compete with larger banks.
The U.S. market provides compelling evidence for how AI can level this playing field. Nearly 30% of U.S. community banks and credit unions plan to implement generative AI tools in 2025, with early adopters already seeing significant gains in operational efficiency and member service. Through innovators like Eltropy, even the smallest credit unions are using AI to handle routine queries, process documents, and personalise communications.
At Niovant, we're bringing this transformation to the UK market. Our thesis is simple: semi-autonomous AI agents will fundamentally elevate productivity by eliminating routine work at scale, giving organisations back time for higher-value tasks. Our platform ingests raw data from core systems, structures it for AI agents, then triggers the actions and workflows that previously consumed staff time.
The Building Societies Association noted in 2024 that mutual lenders are actively exploring how AI can boost staff productivity and customer satisfaction "at scale – but reduce cost" in line with their values. We're making this possible by building an operating system that helps financial institutions orchestrate AI automations while adapting to shifting goals, regulations, and member needs.
The future of financial services won't be built on static software, but on adaptive AI systems that give organisations back their most precious resource: time. We're building that future, starting with the institutions that need it most.
Please reach out to me at lewis@niovant.com to discuss collaboration.
