By Mona Nikidehaghani
Publication Date: 2025-11-24 04:19:00
In June 1967, the world’s first “Automated Teller Machine” or “ATM” was unveiled in a grand ceremony at a branch of Barclays Bank in north London.
The very first system looked a little different than the one we know and use today. But nearly six decades later, it’s hard to imagine a world in which people could only withdraw cash during bank opening hours.
Now banks in Australia and around the world are betting big on a new type of automation that will transform their business model: artificial intelligence (AI).
On Monday, Bendigo Bank announced it had signed a multi-year deal with Google to use the tech giant’s Gemini Enterprise AI platform to assist with a range of tasks, including assessing loan applications and detecting fraud.
It follows a major deal between the Commonwealth Bank and OpenAI announced in August to “bring advanced AI to customers and employees.”
What does the future of banking look like – and who is responsible for controlling…?
