Switzerland-based Temenos has announced the launch of its Responsible Generative AI solutions as part of its artificial intelligence infused banking platform. Following this announcement, the new solutions will be integrated with Temenos Core and Financial Crime Mitigation (FCM), with the aim to optimise the manner in which banks and financial institutions interact with their data, boosting productivity and profitability in order to realise a substantial return on investment.

In addition, the company will focus on meeting the needs, preferences, and demands of its customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the announcement Through this launch, Temenos will extend its generative AI solutions for banking, as the artificial intelligence platform is set to enable financial institutions to deploy AI services faster, safer, and more efficiently. By using the Temenos Generative AI, users will have the possibility to engage in natural language queries to generate unique insights and reports.

This will significantly reduce the time it usually takes for business stakeholders to access and unlock the power of crucial data. In addition, the Temenos Generative AI was developed in order to be transparent and explainable, which will allow clients and regulators to verify the results produced. With a robust permissions and access security framework, these new solutions are expected to improve efficiency, operations, and product management in banking.

Temenos Generative AI addresses the main challenges and difficulties banks and financial institutions face in deploying and integrating this type of technology with their existing data infrastructure, while also addressing their data security and privacy concerns at the same time. The newly launched Generative AI services can be applied in customer and middle office operations or product development, which is set to allow banks and financial institutions to develop tools in real time based on customers’ needs and preferences. Furthermore, the solutions will optimise the manner in which banks augment the power of their users and their overall expertise with the insights drawn from Explainable and Generative AI.

They can also be deployed as standalone for banks, connecting with their already existing core systems with minimal integration. The services can also be deployed on-premise, on any public or private cloud, or delivered via the Temenos SaaS product. The Temenos Generative AI is expected to improve user workflows, journeys, and day-to-day queries, which will enable banks to optimise productivity in production development and account management.

In Financial Crime Mitigation, the solutions will offer business users the possibility to extract intelligence from data using free text. This process will enable bank staff to quickly and securely catalog information and identify themes or root causes. .