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Report 02 Oct 2026

Banking - Market View - Belgium

Belgium’s banks earned €7.9bn in 2025, but the story for technology suppliers is not profit, it is what banks are doing with it. AI now answers seven in ten customer questions at KBC, regulation has made payments spending non-negotiable, and the country’s two largest banks have taken opposite bets on whether to outsource operations or build them back in-house.

  • AI moved from pilot to payroll. BNP Paribas Fortis expects AI to absorb roughly 1,000 roles by 2028 while targeting a 59% cost-income ratio; KBC’s Kate now runs on models sourced directly from OpenAI.
  • Payments carries hard deadlines. Instant payments, Verification of Payee and the Wero rollout across nine Belgian banks create multi-year integration demand through 2027.
  • Sourcing models are splitting. Accenture won both marquee deals — BNP Paribas Fortis’s back-office transfer and Belfius’s Lisbon hub — yet Belfius designed its hub to convert to full ownership.
  • Fraud losses forced a sector response. Phishing losses near €93m in 2025 triggered a Febelfin action plan phasing in contextual transaction signing, driving authentication and channel re-engineering work through 2027.

The report sets out five growth drivers and five obstacles for suppliers, from DORA-driven demand to disintermediation by hyperscalers, with recommendations for pricing against efficiency targets and competing above the model layer.

 

Recommended advisory: PAC Leadership Session – Financial Services Industry – AI Adoption

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Sidney Siegertsz

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