Generative Artificial Intelligence as an Enabler of Financial and Business Processes

By David Lanz – Business Development at IT Business Solutions

Generative artificial intelligence brings creativity, automation and high-level predictive analytics to the business, while employing language models trained on vast data sources that become elements of innovation, efficiency and customization in the integrated financial experience cycle. 

Some examples of the integration of generative artificial intelligence embedded in financial processes are as follows:

  1. Open platforms and Bank As A Services (BaaS): With generative AI, API documentation creates and updates multiple languages and formats instantly, reducing time to market for companies. In a real-world scenario, developers receive code snippets tailored to their applications, while product teams generate customized financial services proposals with simple AI prompts, allowing them to shorten the time to define new account, payment or loan modules.
  2. Real-time payments: Generative artificial intelligence applied to inbound payment receiving systems (RPT) powers the instantaneous flow of funds, predicting minute-by-minute transactional demand patterns to dynamically adjust liquidity limits at critical nodes, and generating alerts (text, voice or chat) that clearly show any latency or rejection, improving the user experience and reducing support queries. 
  3. Personalized shopping experiences: By merging behavioral, credit and market data, generative AI builds “buy now, pay later” offers that are described in real time based on profile and shopping occasion. From generating reminder emails to customer repurchase scripts. To achieve this, AI generates personalized content for each customer, which adapts to the optimal sales pitch and channel, increasing conversion and reducing customer abandonment at each contact.
  4. Cooperation between banks and fintechs: In a financial ecosystem characterized by cooperation between banks and fintechs, generative artificial intelligence acts as a “translator” of data and rules, harmonizing service catalogs and translating regulatory requirements into operational checklists, designing collaborative integration prototypes without the need for extensive work tables, facilitating more agile alliances, and expanding into non-financial industries such as retailers, marketplaces or software as a service (SaaS) providers; they can use generative artificial intelligence to multiply their financial services. 
  5. From the automatic generation of customer experience flows to payment flows, to the elaboration of insurance policies in natural language: With just a few prompt adjustments, an e-commerce platform can deploy a microcredit checklist, create a digital wallet and detect fraud in a single run.

Let’s look at some examples of embedded finance success stories that are already generating real value in Latin America:

. Uber (integrated payments): In more than 60 markets, Uber processes the collection of each trip and service (Uber Eats, micromobility) without the user leaving the app, thanks to its internal wallet and embedded payment routes.This has reduced abandonment rates by 25% and accelerated the acquisition of inactive users.

. Rappi (RappiPay and RappiCard): The Colombian application that integrated its digital wallet and instant credit line in the same order flow. Today more than 30% of Rappi transactions are financed with RappiCard or “pay later”, increasing the average sales ticket per user by 18%.

. Mercado Libre (Mercado Pago and Mercado Crédito): The fintech of the largest marketplace in the region offers from 2019, verification of collections for customers to apply for microcredits and “buy now, pay later” financing for buyers, using a proprietary system of risk assessment and requirements. In 2023, more than 45% of MercadoLibre’s sales were made through Mercado Crédito, driving a 22% increase in Gross Merchandise Volume (GMV). 

These examples demonstrate how frictionless payment and credit experiences not only drive revenue and customer retention, but transform retailers and financial institutions into true commerce ecosystems.

Finally, the integration of generative AI in embedded finance initiatives not only optimizes processes, but also expands the creative capacity of companies, turning data into instant value propositions and reinforcing operational resilience. 

Discover how IT Business Solutions has tools and solutions for generative artificial intelligence that make it possible to access these functionalities for your business. https://itbscorp.com/