FTT Lending showcased how lending is evolving to better meet the needs of modern borrowers. Unsurprisingly, AI was a consistent theme throughout the day, shaping conversations both on and off stage.
Luckily we had an expert on hand to help us understand how, AI Agents, in particular, are impacting lending. We spoke to Ben Thomas, CRO and Founder of Covecta, an Agentic AI platform providing ‘seasoned Banker Agents’ to commercial and corporate banks, building societies and specialist non-bank lenders.
As Ben highlighted, in recent years many large banks have pulled back from serving the SME segment. This retreat created a significant opportunity for specialist and niche providers to step in and meet demand, leading to a rise in more tailored, flexible lending solutions designed specifically for these businesses.
That dynamic is now shifting again. Established players have an opportunity to re-enter the SME market, either by partnering with innovative non-bank lenders and fintechs or by leveraging Agentic AI to enhance and scale their own capabilities.
No doubt different strategies will emerge but the upside is the growth of tailored and flexible products that better meet the needs of the businesses that need the liquidity.
Clearly AI opens up new avenues and will impact the competitive landscape.
But what does it take to build effective fintech–bank partnerships in this environment? As Ben points out, banks operate within strict regulatory frameworks, and fintechs must design their solutions with those realities in mind. Success depends on aligning with those requirements from the outset.
Covecta’s approach reflects this, with its agents built on deep domain expertise and a strong understanding of banking complexity, foundations that underpin its successful partnerships with lenders.
How does Ben see the future of agentic AI? And how quickly will lending products evolve over the next year and beyond?
Listen to the full interview and take a look at what’s on the agenda for FTT AI Transformation on 25th June in London. With a strong focus on financial services, the event is bringing together a community of AI innovators to explore how AI tools and technologies, including AI agents, are transforming the industry at pace.
