Rethinking Relevance: My Dispatch from The Banking Scene Amsterdam

Traveling from the grey skies of London to the crisp, canal-side air of the Eye Filmmuseum in Amsterdam, I arrived at The Banking Scene with a single question: In an era of digital exhaustion, how does a bank stay relevant? The theme, “Rethinking Relevance,” wasn’t just a marketing slogan; it was a survival manual for an industry facing the “agent-first era.”

The day kicked off with a high-tempo keynote that set the stage for the massive transformation ahead. Peter, our keynote speaker, didn’t just talk about AI; he let his AI agent, Sarah, hijack the stage. “Assistants ask permission,” Sarah told us. “Agents, like me, take the stage.”

From Puppets to Actors

Peter’s breakdown of the AI evolution was a wake-up call for many. He described the journey from the “puppet” (simple chatbots) to the “servant” (assistants) and finally to the “actor”—the true agent.

“If you’re still building chatbots, you will get some bad news later on today.”

This shift is fundamental because agents don’t wait for a swipe or a click; they act. Peter argued that we are reaching the end of the mobile era, which has become a “remote control of my life” but one that leads to “digital exhaustion.”

The future is ambient, embedded, and face-to-face AI.

Cutting Through the “Agent Washing”

One of the most insightful discussions of the day featured Sára Hanniker, Head of AI Solutions at FinShape. In a market currently flooded with “agent washing”—where every legacy tool is suddenly rebranded as an agent—Sára provided much-needed clarity.

She noted that while banks have long claimed to be a “goldmine for data,” they haven’t known what to do with it. “The back is what to do with this knowledge, how to act upon them, how to be proactive,” she explained. Sára’s vision for a true AI Financial Assistant moves beyond simple alerts. Instead of just stating your balance dropped, an agent should interact:

“I saw that your balance increased. What about saving more? And then you can discuss it with your client… the AI could say, okay, then let’s set up a recurring transfer.”

She emphasized that this isn’t just a technology problem, but a cultural one. “How to change the mindset, how to achieve this cultural shift, and yes, to learn how to utilise the data,” is the real challenge for established institutions.

Digital Assets: Beyond the POC

The afternoon shifted focus to the complex world of digital assets and infrastructure. The panel, featuring experts like Anoush (Zodiac Custody), Sergei (Rabobank), and Sarah Liebing (Dutch Central Bank), tackled why, after a decade of pilots, we aren’t at “global digital asset domination” yet.

• The Cash Leg Gap: Xavier noted that while tokenizing assets like bonds is “the easy part,” the cash leg remains a “menu of imperfect options.”
• Liability and Risk: “Institutional investors… need to know the full remediation path when something goes wrong, and that just isn’t clear,” Xavier warned.
• Central Bank Movement: Sarah Liebing provided a more optimistic view from the Dutch Central Bank (DNB), noting that they are moving from “idea and just a pilot” to actual products, with settlement in wholesale CBDC expected by Q3.

Anoush pointed out that the technology is solved, but the legal frameworks are the hurdle. “Innovating even where you may not have the end answer immediately… shouldn’t stop the innovation in the interim,” she argued.

The Human Element: The “Orchestrator”

A recurring theme throughout the day was the impact on people. Peter noted that 92 million jobs are at risk according to the World Economic Forum, leading to an “identity crisis.” However, he suggested a pivot from being a “specialist collaborator” to a “generalist orchestrator.”

“We should be hiring people for what they can oversee and what they can validate. They should be hired for how good they are as an orchestrator.”

This requires maintaining “human judgment” and “critical thinking” to ensure we don’t suffer from “atrophy of the mind” by delegating everything to machines.

Final Thoughts

As the sun set over the IJ River, the takeaway was clear: the industry is moving from “waiting to seeing technology act.” Whether it’s through the agentic workflows championed by Sára Hanniker or the infrastructure shifts discussed in the digital asset panels, the “puppet” era of banking is over.

A massive well done to Rik Coeckelbergs and Andrew Vorster for curating an event that was as challenging as it was inspiring. Bringing together regulators, incumbents, and disruptors in one room is no easy feat, but they managed to create a space where the “rethinking” actually happens. Amsterdam remains the beating heart of European fintech, and I’m already looking forward to next year’s progress report.

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