How GFT New US CEO Aims to Spearhead AI Transformation

How GFT New US CEO Aims to Spearhead AI Transformation

  • 25.03.2025 16:03
  • fintechmagazine.com
  • Keywords: AI, GFT

GFT appointed Rishi Chohan as US CEO, leveraging his 20+ years in financial tech to spearhead AI-driven digital transformation. He aims to strengthen client relationships and expand technology partnerships, aligning with GFT's five-year plan to modernize systems and develop AI tools.

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GFT is a capital markets transformation specialist with over 35 years of experience. They are focusing on AI adoption and digital transformation in the financial sector.

Context

Analysis of GFT's AI Transformation Strategy and Market Implications

Executive Appointment

  • Rishi Chohan appointed as new US CEO of GFT, bringing 20 years of experience in financial technology and core banking modernisation.
  • Successor to Marco Santos, who stepped down in January 2025.

Strategic Focus Areas

  • AI-driven transformation: Emphasizing AI's potential to accelerate innovation, customer acquisition, and revenue growth.
  • Five-year plan: Revamping internal systems and developing sector-specific AI tools for banking, financial services, and manufacturing.
  • Technology partnerships: Strengthened collaborations with Nvidia, Amazon Web Services (AWS), and Google Cloud to enhance AI capabilities.

Market Challenges

  • AI adoption gap: Despite 92% of companies planning to increase AI spending, only 19% have achieved revenue growth exceeding 5% from AI initiatives.
  • Legacy infrastructure: Identified as a key barrier to deriving value from AI investments.

Competitive Landscape

  • GFT aims to differentiate itself by combining technical expertise with domain knowledge in banking and financial services.
  • Focus on custom AI solutions, such as large language models for fraud detection, customer service automation, and risk reduction in banking and insurance.

Financial Services Solutions

  • Collaboration with Nvidia to develop custom AI tools for financial institutions.
  • Leverage open-source models like Google Gemma, Llama 3.1 405B, and Microsoft Phi for flexibility in deployment (cloud or on-premises).

Long-term Effects and Industry Impact

  • GFT's vision: To make all products and services AI-centric within five years.
  • Potential to set new standards in digital innovation and efficiency in financial services.

Strategic Considerations

  • Focus on deepening relationships with leading US banks, financial institutions, and manufacturers.
  • Emphasis on rapid modernisation of legacy systems to capitalise on AI opportunities.

This analysis highlights GFT's strategic pivot toward AI-driven growth, its competitive positioning, and the broader market implications for digital transformation in banking and financial services.