In this episode of Cards Against Complexity, Jan is joined by Nico, Head of Innovation and Data at Berenberg Bank—one of the world’s oldest financial institutions, founded in 1590. Together, they explore how Berenberg is integrating AI into core operations without compromising the bank’s heritage or regulatory responsibilities.

Key Takeaways:

• AI as a Strategic Shift, Not Just Another Tech Tool:
Nico contrasts AI with prior industrial-era innovations: while previous revolutions relied on standardization and economies of scale, AI introduces a new logic of scalability that’s not constrained by headcount. For financial institutions, this requires rethinking processes, governance, and culture—not just adding new software.

• Transforming Equity Research with Domain-Tuned AI:
Berenberg developed its own in-house large language model to support equity analysts, cutting research time by 80% while increasing data relevance. Unlike generic AI tools, the model was fine-tuned with internal investment expertise, demonstrating how contextualized AI can drive tangible productivity gains in financial services.

• Modernizing a 430-Year-Old Bank Through Cross-Functional Collaboration:
The innovation strategy at Berenberg is built on cross-disciplinary teams—combining data scientists, engineers, and portfolio managers. By embedding AI directly into investment processes, rather than isolating it in IT, the bank treats AI as a business enabler, not a side project.

This episode offers a practical lens on how legacy financial institutions can lead in AI adoption—by aligning advanced tech with domain expertise, regulatory discipline, and long-term trust.