Otoma CEO says banks may be underusing AI in payment hubs

Peter Reynolds, chief executive of Otoma, told FinextraTV that banks may not be applying artificial intelligence in the most productive areas of their payments technology operations. Speaking from EBADay 2026 in Copenhagen, he pointed to forecasting, infrastructure support and other applications as areas where the technology may still be underused, according to Finextra.

Reynolds also raised the possibility that advances in AI and related technologies could shorten the development cycle for payment infrastructure. Finextra said he went as far as to suggest a future in which a new payment hub could be created in a single week.

The comments were made in a FinextraTV segment focused on the effect of AI and other new technologies on payment hubs. Finextra described the programme as sponsored content produced by its editorial team with input from subject-matter experts at the funding sponsor.

AI use cases in payments operations

According to Finextra, Reynolds questioned whether banks are directing AI to the areas where it can have the greatest operational effect. Forecasting and infrastructure support were cited as examples of functions that could benefit from wider use of the technology.

For banks, payment hubs sit at the centre of payment processing strategies, connecting systems and supporting the handling of transactions across channels and schemes. The potential to build or update such hubs more quickly would be relevant for institutions trying to modernise older infrastructure while maintaining control over risk, cost and service continuity.

Reynolds framed the issue partly around bank dependence on technology providers. Finextra said he described a need for banks to preserve independence even as the operating environment requires them to work with a larger number of vendors.

That point reflects a recurring concern in banking technology: institutions often need external providers for specialised systems, cloud services or automation capabilities, while also retaining strategic control over core infrastructure decisions. Reynolds’ remarks, as reported by Finextra, linked that tension to the adoption of AI in payments.

Finextra listed the discussion under its artificial intelligence, cloud and payments channels, with related keywords including mainframe and EBADay. The segment forms part of FinextraTV’s coverage from the Copenhagen event.

This story draws on original reporting from Finextra Research.