Southeast Asia’s banks are rapidly advancing their use of artificial intelligence (AI) to drive revenue, according to new research by Dyna.Ai. The report highlights that DBS Singapore generated US$565m in AI-driven revenue from 350 use cases in 2024, with a target of US$745m by 2025. This move marks a significant shift from pilot projects to large-scale AI deployment across the region.
The research underscores the potential for AI to transform the banking, financial services, and insurance (BFSI) sector, with AI spending projected to increase tenfold globally from US$35b in 2023 to US$368b by 2032. In Southeast Asia, banks are expected to double their AI-driven revenue, capitalising on opportunities such as hyper-personalisation, which has already delivered a 6% uplift in revenue, and wealth manager co-pilots, boosting adviser sales by 20% year-on-year.
Dyna.Ai’s report identifies key factors that distinguish leading banks from their peers, including the integration of AI into workflows and the establishment of partnerships focused on measurable outcomes. Tomas Skoumal, Chairman and Co-founder of Dyna.Ai, noted, “Most banks believe they are progressing with AI, yet research shows only 10% of organisations using agentic AI are seeing significant, measurable ROI.”
The report also highlights the role of AI in addressing the US$300b ASEAN micro, small, and medium enterprise (MSME) lending gap, as well as its impact on wealth management and cross-border payments in the Middle East. As banks continue to embed AI into their operations, the focus is shifting from experimentation to accountability, with a Results-as-a-Service model emerging as a key strategy for success.
