AI BEYOND THE HYPE IN FINANCIAL SERVICES

Transforming Financial Services with AI

On this insightful episode of FinTech Focus TV, Toby welcomes Sid Jayakumar, Founder and CEO of Finster AI, into the studio to explore the real-world impact of artificial intelligence in the financial services sector. As a FinTech recruitment firm at the centre of the financial technology ecosystem, Harrington Starr continuously looks to share conversations that matter. And this one delivers.

Sid brings a compelling blend of deep technical expertise and sector knowledge to the discussion, having transitioned from roles at Morgan Stanley to seven transformative years at Google DeepMind. At DeepMind, Sid contributed to foundational AI systems before founding Finster AI in 2023. What follows in this discussion is a candid, highly relevant breakdown of what AI can truly deliver to asset managers, investment banks, and financial services institutions.

From Research to Real-World Application: The Finster AI Origin Story

Sid opens the conversation by sharing his journey, starting on the financial services side at Morgan Stanley and moving into the world of AI at Google DeepMind, where he spent years working on foundational LLM technologies. At the time, AI was still largely theoretical, and concepts such as chat interfaces seemed far-fetched—even for someone immersed in the field.

However, within just a few years, Sid was at the heart of developing models that contributed to systems like Gopher and Gemini. As AI evolved from theory to widespread use, the shift in thinking became clear: the time had come to apply this technology meaningfully.

With the market maturity brought about by tools like ChatGPT and open-source models, Sid saw the opportunity to solve real problems within financial services. He understood both the pain points within banking and asset management and the tools needed to fix them. That intersection became Finster AI.

Founded in early 2023, Finster AI aims to automate the repetitive, time-consuming, and often undervalued work financial professionals do every day. It empowers front-office teams with AI that functions like an intelligent intern—fast, reliable, and always available. And, importantly, the company was built lean, leveraging open tools and focused design rather than costly, bloated infrastructure.

The AI Opportunity in Finance: Automation, Augmentation, and Actual Value

As both Toby and Sid observe, AI is everywhere right now, and there isn’t a professional environment—especially in FinTech—where it isn’t being discussed. But Finster AI takes the conversation beyond the hype, offering practical solutions that make an immediate difference.

Sid explains that Finster AI is not just promising value in abstract terms. It delivers AI tools that replicate the output of a junior analyst, producing drafts of reports, analysing filings, answering natural language questions, and making financial data more accessible and actionable. These tools are already being used within tier-one asset managers and investment banks in both London and New York.

Rather than asking institutions to build internal models or commit vast resources to long-term projects, Finster AI offers ready-made solutions that seamlessly integrate into existing workflows. The emphasis is not on building futuristic visions but on solving tangible problems that professionals face right now.

From Hesitation to Acceleration: How Financial Services Are Embracing AI

One of the most enlightening sections of the episode revolves around the conversation around procurement, compliance, and the traditionally slow-moving nature of financial services. Toby raises a crucial point: financial institutions are often labelled as resistant to innovation, bogged down by risk aversion and legacy systems.

Sid agrees that procurement and regulation remain significant challenges but argues that the tide is turning. Financial institutions—particularly large banks—have learned from their slow adoption of cloud technology. Today, they’re acutely aware of the cost of missing the next wave. AI, in particular, offers value so compelling that ignoring it is no longer an option.

Sid goes on to explain that many financial services firms already have internal AI teams and well-developed innovation strategies. What they now seek are partners who can help them accelerate that transformation, not replace their internal capabilities. Finster AI fills that gap, providing tech that is already built, secure, and ready to use—saving both time and money.

Productivity, Not Just Efficiency: Rethinking KPIs in an AI-Enabled World

A major highlight of this conversation is the shared view that the true measure of AI success is not just cost-saving or efficiency—it’s productivity. Toby articulates this with passion, pointing out that companies can only cut costs so far before they impact performance. Growth requires doing more, not just spending less.

Sid echoes this sentiment, offering real examples from Finster AI’s user base. Portfolio managers using Finster’s tools are able to ask more questions, cover more companies, and make smarter decisions. One analyst told Sid that the biggest waste of time is not realising something is a waste of time—AI helps uncover that quicker than ever before.

Crucially, Sid stresses that firms need to measure the right outcomes. Time saved is useful, but the real gains come when analysts discover insights they would have otherwise missed. The question isn’t “how much time did I save writing this report?” but rather “did I make a better decision because of what the AI revealed?”

This reframing is central to unlocking AI’s potential in FinTech. Measuring success through increased AUM per analyst, greater market coverage, or faster decision-making gives a clearer picture of impact than just tracking how quickly reports are generated.

Trust and Transparency: Tackling the Challenge of Hallucination in AI

Toby challenges Sid on a critical concern in AI—accuracy. In financial services, being “approximately right” is often as bad as being completely wrong. When decisions impact portfolios, clients, and compliance, there’s no room for guesswork.

Sid is fully aware of this and highlights how Finster AI has been designed with this sensitivity in mind. One of its most important features is the ability to say, “I don’t know.” If the system is unsure, it tells the user, instead of hallucinating or fabricating data. This approach builds confidence and ensures that users remain in control.

Financial services professionals can trust the technology because it’s built to be cautious where necessary and intelligent where appropriate. It’s not there to replace human oversight but to act as an effective assistant—capable, fast, but never reckless.

Cultural Buy-In: Why AI Needs Human Champions to Succeed

Both Toby and Sid agree that successful adoption of AI relies on internal champions. Sid shares how AI sceptics within financial institutions often become believers once they see the tools in action. When Managing Directors or senior analysts engage with the product, they realise it enhances rather than replaces their role.

Finster AI doesn’t seek to displace experienced professionals—it augments their ability to serve clients, make decisions, and deliver value. That message is critical. Sid stresses the importance of not overselling AI or approaching banking professionals with a know-it-all attitude. Humility is key. Finster AI’s team understands the industry and works to earn trust, not impose disruption.

This mindset—customer-focused, solution-oriented, and respectful of existing expertise—is a major reason why Finster AI has gained traction so quickly.

Let the Product Do the Talking: Winning Over the Naysayers

Sid reveals that Finster AI’s best marketing strategy is letting the product speak for itself. Whether it’s live demos or handling rapid-fire questions from compliance teams, Finster AI invites scrutiny. This transparency is part of building long-term credibility.

Rather than hiding behind hype or industry jargon, the team at Finster is focused on use cases, workflows, and practical ROI. If a user can think of 20 questions that challenge the system, the company wants to hear them. It’s all part of building a better, more accountable product.

This openness also reflects Finster AI’s culture—humble, intellectually curious, and dedicated to building things that genuinely work. It’s not about “disrupting finance” for the sake of it. It’s about making financial services smarter, faster, and more human.

From Google to Startup Life: Sid’s Entrepreneurial Mindset and Leadership Style

Towards the end of the episode, Toby shifts focus to the personal. What’s it like moving from Google DeepMind to running a FinTech startup? Sid is refreshingly honest. While Google offered incredible resources and global impact, startups offer unmatched agility and purpose.

At Finster AI, he gets to wear every hat—sales, HR, product, support—and sees the impact of every decision. The highs are high, the lows are low, but the mission keeps him grounded. He shares how important hiring has been, assembling a team that brings expertise from both finance and AI. Everyone is aligned on the company’s vision and values.

Sid also credits his personal support network—mentors, family, advisors—for helping him navigate the uncertainty that comes with being a founder. And while there’s no silver bullet for startup success, he believes staying calm, clear, and focused is vital.

What’s Next for Finster AI: Growth, Visibility, and Continued Impact

As Finster AI moves into its second year, the company is preparing to emerge from stealth. Sid reveals that a second funding round has already closed, several new clients are onboarding, and expansion is underway. More public case studies and announcements are expected in the months ahead.

Finster’s roadmap includes deepening its existing product suite, expanding into new use cases within front-office banking, and continuing to lead with technology that is explainable, compliant, and value-driven. With its roots in best-in-class AI research and its eyes firmly set on financial services transformation, the future looks bright.

Why This Episode Matters for the Future of FinTech

As a FinTech recruitment business, Harrington Starr is committed to helping clients and candidates understand the technologies shaping the future of financial services. This conversation with Siddhant Jayakumar is essential listening for anyone operating in or recruiting for the FinTech space.

From AI-driven decision-making to smarter workflows, this episode offers a playbook for what successful innovation looks like. Finster AI is not just a tech company. It’s a FinTech solution designed by people who understand both code and capital markets.