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July 9 2025

The Data-Driven Future of Banking | Nick Fahy, Cynergy Bank

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Nick Fahy, CEO of Cynergy Bank, highlights a challenge many banks are still facing: despite having access to vast amounts of data, most aren’t using it effectively.

Fahy explains that data presents a major opportunity across various banking functions — from personalising products to improving relationship management and strengthening cybersecurity. The key to unlocking that potential that data gives lies in how it is structured and used. He stresses that the real value of AI, especially when using large language models, can only be realised when built on top of high-quality, well-organised data.

Without that foundation, attempts to scale AI or embed it meaningfully into a bank’s operating model will fall short.

He said that AI, especially LLMs, are only as good as the data they’re built on and without that foundation, attempts to scale AI or embed it in a meaningful way into a bank’s operating model will fall short. In short, banks have a huge opportunity in front of them — but to take advantage of it, they need to focus on maturing their data strategy first.

 

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Nick Fahy

Nick Fahy

Cynergy Bank

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Cynergy Bank | Fintech Finance

Cynergy Bank
  1. Latin America’s Payments Evolution is Unlocking Digital Commerce for Millions

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  2. Boku Deepens LATAM Commitment, Readies Merchants for Brazil’s Digital Payments Revolution via Pix

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  3. MAPFRE is the Largest Multinational Insurance Company in Latin America

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  4. African Development Bank Group’s Office of Integrity and Anti-Corruption Partners with Special Investigations Unit to Combat Financial Crime

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  5. The 4th Edition of the Africa Fintech Forum to Shape the Future of Finance in Kenya on October 15

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