HCLTech’s latest industry report reveals a paradox at the heart of the payments sector: while nearly every firm uses AI in some form, very few are ready for its risks or complexity. As digital payments evolve into AI-powered ecosystems, the race to modernize is clashing with a lack of preparedness, outdated systems, and a crisis of trust.
The global study surveyed payment leaders across geographies and uncovered a sharp divide — between AI ambition and operational readiness.
AI Everywhere, But Guardrails Nowhere
According to the findings:
99% of organizations use AI in payments.
But 91% of executives worry about the associated risks.
Only 49% have formal AI policies in place.
Concerns about AI hallucinations, synthetic fraud, and data leakage dominate discussions, especially in Europe where just 19% of executives say they feel fully prepared for the future.
Srinivasan Seshadri, Chief Growth Officer and Global Head of Financial Services at HCLTech, summarized the state of flux: “Payments leaders are embracing innovation, but the gap between ambition and readiness is stark.”
Autonomy Ahead — But Few Are Ready
More than half (52%) of surveyed organizations expect to become fully autonomous within 18–24 months. However, only 17% are already operating in such a mode. This discrepancy highlights a worrying lag between strategic goals and real-world deployment.
The report notes that while organizations are pouring resources into AI innovation:
Just 20% have cloud-native, real-time data infrastructure.
60% say their current fraud detection tools are ineffective.
58% prefer new innovations over optimizing legacy systems — yet modernization remains elusive.
Europe’s Cautious Stance on Agentic AI
The divide becomes even more apparent in Europe, where a conservative approach to new AI paradigms persists:
12% of executives in continental Europe express skepticism about Agentic AI.
57% say they prefer to iterate on existing products rather than adopt radically new ones.
Despite the caution, customer expectations are rapidly shifting, with 87% of executives saying they risk losing customers without real-time payment capabilities.
What the Industry Needs: Governance, Infrastructure, Clarity
HCLTech’s research concludes that to close the gap between innovation and execution, the industry must prioritize:
Responsible AI frameworks
Infrastructure modernization
Cross-functional clarity in payments, compliance, and customer experience.
“It’s less about having AI and more about having the right scaffolding to use it securely and intelligently,” the report suggests.
