**BREAKING: Otoma CEO Warns Banks Underutilizing AI in Payments Infrastructure**
Payment technology executives are signaling a major shift in how artificial intelligence could transform banking operations. Speaking at EBADay 2026 in Copenhagen, Peter Reynolds, CEO of Otoma, challenged banks to reconsider their AI deployment strategies, arguing current implementations miss critical opportunities in forecasting and infrastructure support.
Reynolds made the provocative claim that AI advancement could enable new payment hubs to be created within a single week, dramatically compressing timelines that currently take months or years. The statement underscores how rapidly AI is reshaping fintech infrastructure capabilities.
The Otoma chief emphasized a critical tension facing financial institutions: the need to maintain operational independence while navigating an ecosystem requiring increased vendor partnerships. This balance becomes more urgent as banks accelerate technology adoption to remain competitive.
The comments come as payment processors and banks face mounting pressure to modernize legacy systems while managing third-party dependencies and regulatory requirements.
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FXnCO Insight
** Banks relying on traditional payment hub deployment timelines risk falling behind competitors leveraging AI-accelerated infrastructure builds.
Source: Finextra