Chieftain wanting AI to develop banking software? (7)

I believe the answer is:

fintech

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'banking software?' is the definition.
I know nothing about this answer so I can't tell whether this works.

'chieftain wanting ai to develop' is the wordplay.
'wanting' is a deletion indicator (wanting can mean lacking).
'to develop' is an anagram indicator.
'chieftain' with 'ai' taken out is 'chieftn'.
'chieftn' with letters rearranged gives 'FINTECH'.

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