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We Built the Bank of the Future: Darren Bak

We Built the Bank - Darren Bak

The banking sector isn’t just evolving — it’s being rebuilt from the inside out. And companies like Synthesis are laying the foundations.

At the centre of this shift is Darren Bak, Head of Intelligent Data at Synthesis, who says it plainly: “We’ve watched the banking space evolve. We’ve grown with banks — and helped them grow in return.”

Traditional banks were once protected by regulation and scale. But today, they’re up against fast, digital-first challengers and customers who expect more — and compare their banking experiences not with other banks, but with Apple and Google.

Tech Giants Set the Pace

Apple Pay works because it’s invisible. Secure, seamless, and simple. Google, meanwhile, is going further — pushing into Agentic AI. At its recent I/O developer conference, Google showed how AI can guide users through product discovery and payment in real time. No standalone banking app needed — just search, click, and pay, all under AI supervision.

This isn’t just convenience. It’s a warning shot to legacy banks: Innovate or be outpaced.

Banks Need More Than Co-Pilots

While many institutions are still experimenting with chatbots and AI co-pilots, Bak believes the real power lies in domain-specific AI agents. “These agents,” he explains, “don’t just generate text. They solve specific, high-value banking problems using deeply contextual data.”

But there’s a catch: AI is only as smart as the data it feeds on. And in banking, data can’t just be available — it needs to be secure, structured, and ready to move in milliseconds.

That’s where Synthesis shines.

Infrastructure That Matters

Synthesis, the recipient of the AWS GenAI Prize of Excellence Award and voted the preferred software development company in South Africa for large business projects, has built resilient, distributed systems that prioritise data sovereignty, security, and scale. Its AI Launchpad platform allows banks to deploy advanced AI safely — with embedded security, real-time monitoring, automation, and cost controls that keep the CFO happy.

In high-stakes use cases like fraud detection, timing is everything. “Milliseconds matter,” says Bak. “And that’s the difference between stopping a breach or explaining one.”

Real-World Proof

If you want a glimpse into what’s possible, look no further than Vitality Group. With over 60 million life years of data, 4+ petabytes of behaviour-linked records, and 5+ billion device readings a year, they’re setting the global benchmark for AI in insurance. And they’re doing it from here.

“South African engineers are world-class,” says Bak. “We’re not behind. The only thing slowing us down is outdated systems and data silos.”

Start Smart, Scale Fast

So how should banks respond? According to Bak, the approach is simple:
“Think big, start small, and get to value fast.”

This means identifying high-impact use cases, building foundational data platforms, and delivering quick wins. One area where Synthesis has seen major traction: customer personalisation. Through rich customer data platforms, banks can serve up real-time nudges, contextual product offers, and frictionless experiences that actually reflect the customer journey.

The Stakes Have Changed

Switching banks is now easier than ever. Loyalty isn’t a given — it’s earned through smarter, faster, more personalised service. If banks want to keep their customers (let alone attract new ones), they need to stop reacting and start building.