Leading European Financial Services and Insurance Firms Deliver Impact with OpenAI

Onstage at the FT Global Banking Summit, OpenAI today shared how demand across the financial services sector is accelerating as major financial services and insurance companies increase AI adoption. 

Generative AI is fast becoming the operating system reshaping core workflows such as fraud detection and prevention, investment analysis and supporting lending decisions – with European financial services businesses reporting demonstrable impact while scaling AI.  

New OpenAI customers include banking and PE leaders Revolut, Allica Bank, Hg, EQT and Permira, along with new data on impact from Zopa and OakNorth. These firms are seeing real results: Revolut is using GPT-5 for financial crime and customer support; Allica is cutting lending assessment times; Zopa is reviewing around 40,000 customer interactions a month; OakNorth has automated workflows across the entire business; EQT and Permira now have near-universal employee adoption and portfolio-level revenue impact.  

Additionally The AA, providing roadside assistance and insurance, and LSEG, both announced plans to use ChatGPT Enterprise this week. LSEG is collaborating with OpenAI to rollout ChatGPT Enterprise to 4,000 employees and build an MCP connector that brings its financial data and news directly into ChatGPT. 

Matt Weaver, EMEA solutions engineering lead, OpenAI, said: “AI has moved from pilots to production, and we’re seeing that regulated industries aren’t lagging behind – they’re leading the way. Financial firms are showing how highly-regulated companies can succeed with the right governance, strategy, platforms and support in place.” 

Europe’s financial sector is already delivering some of the world’s most sophisticated AI deployments – from Revolut to BBVA to NatWest. This is just the beginning. AI will unlock faster decisions, reduce fraud, speed up business lending and more personalised banking services for millions of people.

Europe’s financial sector is proving that safe, responsible AI deployment is happening and creating competitive advantage.” 

Details on new customers and / or use-cases are below: 

Revolut: tackling financial crime and enhancing customer support

Revolut works directly with OpenAI to embed advanced AI across its platform – from deploying a GPT-5–based FinCrime Agent and the latest version of Rita, its customer assistant built on a fine-tuned GPT-4.1 model. By using OpenAI’s technology at scale, Revolut is strengthening risk controls, reducing fraud instances and operational friction, and giving millions of customers faster, clearer and more intuitive support.

Allica Bank: speeding up business lending

Allica Bank uses OpenAI to deepen customer support and speed up business lending. Relationship managers get instant insight from customer conversations, replacing 30–45 minutes of manual review and freeing them to spend more time with business owners. In lending, an AI-led first-pass assessment structures applications, flags gaps, and removes manual bottlenecks – saving around 20 minutes per application and accelerating decisions for growing SMEs. 

Richard Davies, CEO, Allica Bank commented: “Our engineers working with OpenAI’s models is key to our reimagining of what great business banking looks like. We can instantly turn real customer conversations into insight that helps our relationship managers give smarter support. And we’re using AI to help our teams rapidly assess applications for finance. It’s unlocking a new era of faster decisions, deeper relationships, and genuinely transformational finance for established businesses.”

OakNorth: automating operational workflows 

With around 90% employee adoption of OpenAI, OakNorth uses OpenAI’s APIs and 360+ custom GPTs to automate workflows across the business, including: HR, compliance, legal, and asset management – saving tens of thousands of hours a year. Its program embeds governance, security, and compliance to meet strict financial-services regulatory standards.

Zopa: scaling digital banking with GenAI

Zopa, the digital bank pioneer with 1.7 million customers, is using OpenAI technology to boost productivity and fuel innovation. More than 1,000 employees use ChatGPT and have built 600 custom GPTs to handle customer queries, spot vulnerabilities, and speed up software development. Zopa also uses AI to review 40,000 customer interactions each month, identifying signs of vulnerability that humans often miss so it can better support at-risk customers. The bank is now testing an AI Banking Assistant – currently in beta with 200,000 customers – that makes payments and money management more intuitive, efficient, and human.

Permira: supporting investment analysis, risk assessment, and operational processes

Global investment firm Permira has integrated a number of its enterprise applications with ChatGPT Enterprise to enable employees to search across these applications directly from within ChatGPT itself. The firm uses ChatGPT to support investment analysis, risk assessment, and operational tasks internally, whilst also taking the learnings to encourage AI adoption and innovation amongst its portfolio companies. This year, Permira expects its portfolio to generate around $450M in AI-driven revenue. 

Lionel Hill, CTO, Permira, said: “We now count 90% of our team as regular AI users – up 4x in one year. Our work with OpenAI has enabled our teams to build a wide range of tools that they need, sometimes in hours. The impact of this collective expertise extends beyond the firm and is one of the reasons we’re seeing $450M in AI-related revenue across the portfolio this year.” 

EQT: improving decision-making across the firm responsible AI across the firm

EQT works with OpenAI to scale responsible AI integration across the firm, enhancing how investment, portfolio, and corporate teams operate. The vast majority, ca 90%, of EQT’s circa 2,000 employees use ChatGPT on a weekly basis.  This adoption is translating into tangible impact: on average, employees report saving 45 minutes per day on a diversified range of tasks, with teams across the organization now leveraging 350+ internally built GPTs that streamline analysis, surface institutional knowledge, and strengthen decision-making under EQT’s secure governance framework.