Consumer banks such as Revolut and Trade Republic have reset expectations across financial services, making banking so seamless that traditional institutions have struggled to keep pace.
Revolut now serves over 70 million customers globally, with nearly one in three newly opened accounts across six major European markets belonging to the FinTech, while Trade Republic has surpassed 10 million customers across Europe.
Business customers now demand the same frictionless experience. Yet strict compliance obligations and manual processes continue to act as a drag. PwC research found that 90% of compliance leaders in financial services believe requirements have grown more complex over the past three years.
According to Duna, AI can help institutions remain compliant while enhancing the customer experience, but only if it is designed for regulated environments. In customer service, an incorrect AI answer is a mere inconvenience. In compliance, where AI supports fraud review, onboarding and regulator-facing decisions, the stakes are far higher. Outputs that are inconsistent or cannot be audited will not withstand regulatory scrutiny, and errors could even carry personal accountability for compliance professionals.
Duna argues that bank-grade AI must satisfy three principles. First, it must be explainable, showing the full journey from the data points used in an assessment through to how conclusions were reached. Second, it must be auditable, with every decision backed by evidence.
Onboarding applications draw on customer declarations, government registries and notaries, all of varying quality, so the system must know which sources to trust and how to handle discrepancies. Third, it must be repeatable, meaning identical inputs and evidence should always produce identical conclusions, mirroring the consistency compliance teams expect from trained human analysts.
Brand New Day Bank CCO Bas van Beusekom said, “As a regulated bank, we’re held to the highest standards for compliance and security. Duna is a trusted partner we rely on daily to meet strict banking-grade requirements. With Duna’s platform, we confidently onboard and manage business customers from first interaction through the full customer lifecycle.”
Crucially, reliable AI requires more than a model. The surrounding system must trace every recommendation to its evidence and governing policy, explain why assessments change as new evidence emerges, and continuously evaluate decisions against organisational standards.
The commercial upside is significant. Bank-grade AI allows firms to ask customers for less, respond faster and tailor experiences more precisely, while simplifying expansion into new geographies. Duna customers have reported a 51% drop in follow-up rates, cutting review labour and helping avoid penalties.
Qonto CEO and co-founder Alexandre Prot said, “Operating a global business requires a deep understanding of local needs. Duna’s onboarding offers global growth and local nuance.”
As regulators and customers raise the bar, purpose-built systems can transform compliance from a cost centre into a genuine competitive advantage.
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