Innovation at Barclays
WHO WE ARE
Barclays invests in innovative technology because our clients and customers deserve a seamless and efficient banking experience.
Change is a constant in the world of financial technology
New technology and ideas inform and improve the way banks do business. Barclays invests in innovative technology because our clients and customers deserve a seamless and efficient banking experience.
We believe testing new ideas and collaborating with the wider financial services ecosystem will help us bring new digital products and services to market, and unlock long-term growth opportunities for the benefit of our stakeholders.
"Innovation in technology is a constant. What we can do now is different to a year ago. The continual drive to rethink and evolve our tech capabilities helps us deliver greater benefits to our customers and clients."
Craig Bright, Barclays Group Chief Information Officer
Fintech Embraces GenAI
It’s not just talk – in 2024 venture investments in GenAI increased by 192% compared to 2023.1 And the returns speak for themselves, as 69% of survey respondents located across UK and US find that GenAI is cost effective.
To better understand where GenAI in fintech is headed, Barclays asked fintech leaders who are using GenAI in various capacities to contribute their thoughts on the technology’s applications, model choices and barriers to adoption. With these important gleanings from 2024, this report looks forward to the GenAI trends we may expect in fintech across 2025.
Innovating through technology
"Through technology, we identify global trends and strategic innovation opportunities that keep Barclays at the forefront of our industry. Using the collective talent of our people and our broad ecosystem of partners, we support the bank in adapting to the rapidly changing landscape in financial services, delivering better customer outcomes."
Kristen Bennie, Managing Director Group Innovation & Partnerships at Barclays
Our approach to innovation
With today’s cutting-edge technology, the 'art of the possible’ is limitless, empowering banks to discover and engage with their customers in different and better ways. At Barclays, we have a balanced portfolio of innovation to accelerate our strategic goals through:
- Sustained innovation: making enduring improvements to existing products or services that meet the evolving needs of our customers, clients and the market.
- Transformative innovation: through applied innovation, creating entirely new products, services or business models that can disrupt existing markets and create new ones by exploring new and emerging technologies.
Accelerating innovation through partnership and investment
“We look for opportunities to collaborate with startups. We recognise that the speed and dynamism that a young business can bring, coupled with a partnership with us, will lead to outsized benefits for the market."
Andy Challis, Managing Director Principal Investments at Barclays
