Luigi Marciano on AI and scaling financial innovation
Luigi Marciano, the founder and group chief executive of Objectway, observes that the finance sector is embarking on a fresh stage of tech transformation. Artificial intelligence is swiftly shifting from trial phases to real-world deployment, client expectations are growing more subtle, and industry consolidation is reshaping the competitive market. For banks and other financial firms, the key issue is no longer the decision to pursue innovation, but rather how to convert it into enduring, scalable commercial benefit.
Building a Foundation for AI
Marciano, a recipient of the European CEO Award for CEO of the Year in Wealth Technology, stresses that this differentiation matters. After more than thirty years developing Objectway as a WealthTech collaborator for financial firms, he has witnessed multiple cycles of change that have reshaped expectations of technology suppliers. The current AI-driven surge could rank among the most impactful, provided companies treat it within a wider transformation agenda.
Marciano contends, “AI should not be treated as a standalone technology.” He adds, “Its greatest potential lies in acting as an amplification layer on top of a trusted operational foundation: validated data, secure and orchestrated processes and governed workflows. In an industry where decisions are closely tied to trust, regulation and long-term client relationships, this foundation is particularly important.”
The difficulty lies more in establishing an environment that allows innovation to expand than in merely deploying AI. Historically, financial firms have balanced lofty goals with day-to-day delivery, aiming to prepare for tomorrow while maintaining current operations. Although this balance persists, the risk profile has shifted. Innovations that fail to scale waste opportunity, and static performance eventually hits a ceiling. Consequently, the capacity to scale is now as vital as the innovation, requiring new functions to operate reliably throughout the enterprise and generate enduring value.
This requires tackling an issue that has quietly accumulated throughout digital transformation efforts: operational complexity. The mix of disjointed platforms, hand-driven workflows, compliance pressures, and growingly bespoke client demands hampers profitable expansion. Solutions that merely layer additional features may exacerbate the problem, whereas tools that standardize, integrate and streamline can reduce it.
Externalising Complexity
The forthcoming competitive edge may appear among firms that first address the tougher, less apparent groundwork, using operating models that blend automation and efficiency while remaining adaptable to shifting markets, regulations and client expectations. Robust data bases, modular system designs and built-in governance are turning from optional technologies into essential requirements for lasting growth.
Such trends are altering how technology alliances function. Financial firms now need to separate features that genuinely set them apart from those that can be more efficiently sourced from specialist providers. The new approach does not aim to outsource innovation itself; instead it seeks to offload complexity while retaining unique differentiators, employing as-a-service solutions for functions where internal scaling and ongoing development are challenging, and concentrating on domains that deliver distinct value.
Marciano emphasizes, “The strategy is in the sequence,” adding, “Foundations first. Externalisation as accelerator. AI as amplifier. Firms do not all need to start from the same place, but they do need clarity about what enables their desired outcomes: knowing what has to happen before the next layer of innovation can deliver value at scale.”
