Temenos has launched Responsible Generative AI Solutions for financial services.
The GenAI tools allow bank employees to use natural language to query the engine, which will leverage banks’ data to generate unique insights and reports.
At launch, the new GenAI tools will be available within Temenos Wealth and Temenos Digital products.
Banking technology provider Temenos launched Responsible Generative AI Solutions for financial services this week. The Switzerland-based company is making the solutions available as part of its AI infused banking platform, starting with its Temenos Wealth and Temenos Digital products.
Temenos’ new offering aims to change the way banks leverage their data, and the company anticipates they will ultimately improve banks’ productivity and profitability. Temenos’ new Responsible Generative AI solutions work similarly to other GenAI engines, such as ChatGPT, in that they allow bank employees to use natural language to query the engine, which will leverage banks’ data to generate unique insights and reports. Banks can use the new tools in processes ranging from managing existing accounts to brainstorming new products and mitigating financial crime.
“We all use AI in our daily lives and benefit from the personalized services and insight,” said Temenos President Product and COO Prema Varadhan. “Temenos Explainable AI offers transparent, auditable insights while our Generative AI infused platform delivers these insights instantly in an intelligent and personalized way. Temenos ensures responsible AI practices by providing explainability, security, safe deployment, and banking-specific capabilities. With our AI platform, banks can rapidly implement real-world use cases that enhance efficiency, boost profitability, and create hyper-personalized customer experiences.”
The “responsible” part of Temenos’ new tools lies in its transparency and explainability. Users and regulators will have visibility into the process and will be able to verify the results produced by the engine. The Responsible Generative AI solutions also have a permissions and access security framework to address data security and privacy concerns.
Banks can deploy the new Responsible Generative AI Solutions as standalone solutions or connect them with their existing core systems on-premise, on public or private clouds, or delivered via Temenos SaaS.
Temenos was founded in 1993 and offers solutions for retail and commercial banking, wealth management, payments, fund administrators, insurance companies, and more. The company has clients in 150 countries and offers solutions that touch 30% of the world’s banking population, equivalent to 1.2 billion people.
Photo by Tara Winstead
