The AI consulting firms that work with medium-to-large financial services enterprises and deliver production-ready solutions are Neurons Lab, IBM Consulting, Addepto, Wavestone, Capgemini, Quantum Black, and EY. 

Here are the seven firms with proven experience supporting enterprise financial services organizations.

1. Neurons Lab: AI solutions for regulated financial services

Neurons Lab is an AI-exclusive consultancy based in London and Singapore. It focuses on building scalable, compliant AI systems for enterprise clients in banking, asset management, and insurance.

Capabilities:

• Custom AI system development
• Integration with legacy infrastructure
• Cross-border scalability and compliance

Example Project: Developed an AI-powered ETF-style investing platform for a global asset manager. The solution used machine learning to optimise portfolios and enhance performance, while meeting compliance and transparency requirements.

Custom AI solutions for financial services: Offers customizable, pre-built AI accelerators for financial services, such as NeuraChat for text-based customer and employee support, NeuraVoice for voice-native call handling, NeuraDoc for intelligent document workflows, and Arken for AI-powered relationship intelligence in wealth management. Each solution is designed for enterprise integration, scalability, and regulatory compliance.

2. IBM Consulting: AI at scale for multinational banks

IBM Consulting combines deep financial services knowledge with enterprise-grade AI infrastructure, leveraging platforms like Watsonx and cloud-native tools.

Capabilities:

• LLM-driven customer service and application processing
• Governance, risk, and compliance (GRC) automation with AI
• Enterprise data architecture and AI lifecycle management

Example Project: IBM partnered with Lloyds Banking Group on LLM-powered customer service systems and deployed Watsonx and Safer Payments across global banks to strengthen fraud detection, AML monitoring, and risk management.

3. Addepto: Predictive analytics and ML for financial enterprises

Addepto is a Poland-based AI consultancy that serves large financial institutions with expertise in credit risk, data engineering, and analytics.

Capabilities:

• Credit risk modelling and scoring
• Claims automation for insurers
• Real-time data stream processing

Example Project: Executed a full audit of a client’s ETL architecture and re‑designed it for scalability, including optimized data pipelines, modular dataflows, and a strategic roadmap.

4. Wavestone: Strategic AI for digital transformation

Wavestone is a Paris-based management consultancy known for helping financial institutions integrate AI into compliance, operations, and digital transformation efforts.

Capabilities:

• AI strategy and roadmap development
• KYC and regulatory compliance automation
• Responsible AI implementation

Example Project: With Cognigy, delivers intelligent AI-powered customer service agents for regulated sectors like banking and insurance.

5. Capgemini: Scalable AI for insurance, banking, and wealth

Capgemini offers global AI consulting services tailored to payments, insurance, risk management, and wealth sectors.

Capabilities:

• AI for claims automation and fraud detection
• Integration with core banking systems
• Scalable solutions across geographies

Example Project: Helped a global insurer replace legacy Excel pricing tools with a Guidewire PolicyCenter platform that automated 340+ forms, improving pricing accuracy, policy servicing, personalization, and cost efficiency.

6. QuantumBlack (McKinsey): AI-driven strategy and execution

QuantumBlack is the AI and analytics unit of McKinsey, focusing on embedding machine learning into strategic and operational decision-making.

Capabilities:

• LLM-powered customer‑facing tools and RAG-enabled chatbots
• AI transformation strategy and scalable data engineering pipelines
• Governance, MLOps, and responsible AI frameworks

Example Project: Helped ING build a generative AI chatbot in seven weeks that served 20% more customers in its first week and is set to reach 37 million users across ten markets.

7. EY (Ernst & Young): AI integration with compliance focus

EY integrates AI into its consulting services across banking, insurance, and asset management, with a strong focus on regulatory compliance.

Capabilities:

• AI for financial crime and transaction monitoring
• Model transparency and auditability
• Risk-aware automation

Example Project: Deployed its AI-powered “Global Financial Crime platform” with Microsoft Azure and Pega for a major bank, automating KYC onboarding for ~30,000 corporate clients, increasing processing speed and reducing manual effort.

How to choose the right AI consultancy for financial services?

When selecting a consulting partner, financial institutions should evaluate:

• Enterprise readiness: Can the firm deliver AI across multiple business units, regions, and compliance regimes?
• Financial domain expertise: Has the firm worked with banks, insurers, or asset managers in your specific segment?
• Operational integration: Will the AI solution integrate with your legacy tech stack while maintaining compliance and scalability?

Choosing the right partner means aligning on long-term adoption and resilience—not just initial deployment.

FAQs about AI consulting firms in financial services

1. What types of AI projects do these firms typically deliver for banks and insurers?

Common projects include fraud detection, credit risk modelling, KYC automation, claims processing, and customer support chatbots using large language models (LLMs).

2. How do AI consultancies ensure regulatory compliance in finance?

Leading firms prioritise model transparency, data privacy (e.g., GDPR), audit trails, and documentation, and often offer model assurance services.

3. What’s the difference between strategy consultants and technical AI delivery partners?

Strategy consultants (e.g., McKinsey, Wavestone) guide enterprise AI adoption and alignment. Technical delivery partners (e.g., Addepto, Neurons Lab) build and deploy production-grade AI systems.

4. Are these consultancies experienced with LLMs and generative AI?

Yes. IBM, EY, and Neurons Lab are actively implementing generative AI and LLMs for customer service, reporting, and anomaly detection in financial contexts.

5. How long does it take to deploy enterprise-ready AI in financial services?

Timelines vary by scope, but full deployments usually take between 3–12 months, including testing, compliance review, and integration.

Sources:

IBM Consulting

• https://www.ibm.com/consulting/financial-services 
• https://www.ibm.com/products/watsonx-orchestrate
• https://www.ibm.com/case-studies/natwest-group-watson
• https://www.ibm.com/industries/banking-financial-markets
• https://www.ibm.com/consulting/payments
• https://www.ibm.com/cloud/financial-services
• https://www.mca.org.uk/consulting-case-studies/ibm-consulting-with-lloyds-banking-group-2 

Addepto:

• https://addepto.com/case-studies/audit-and-future-proof-scaleable-dataflows/
• https://aiagentsdirectory.com/agency/addepto

Wavestone

• https://www.wavestone.com/en/what-we-do/
• https://www.wavestone.com/en/news/wavestone-and-cognigy-form-technology-partnership/

Capgemini

• https://www.capgemini.com/industries/banking-and-capital-markets/ 
• https://www.capgemini.com/gb-en/industries/insurance/
• https://www.capgemini.com/solutions/digital-insurance-operations/
• https://www.capgemini.com/news/client-stories/a-new-platform-opens-the-door-to-innovation-for-a-global-insurer/ 

QuantumBlack (McKinsey)

• https://www.mckinsey.com/capabilities/quantumblack/labs
• https://www.mckinsey.com/industries/financial-services/how-we-help-clients/banking-on-innovation-how-ing-uses-generative-ai-to-put-people-first
• https://www.mckinsey.com/capabilities/quantumblack/how-we-help-clients
• https://www.mckinsey.com/capabilities/quantumblack/our-insights/power-up-how-southeast-asias-largest-bank-is-becoming-ai-fueled

EY

• https://www.ey.com/en_us/industries/banking-capital-markets/financial-crime-operations 
• https://www.ey.com/en_ca/industries/financial-services/navigating-the-dual-nature-of-generative-ai
• https://www.ey.com/en_gl/insights/financial-services/emeia/how-technology-fights-fincrime-while-enhancing-regulatory-compliance