Fintech
Fintech Nexus Newsletter (13 May 2024): Generative artificial intelligence arrives in core banking with Temenos
As the AI hype cycle continues, we are starting to see real fintech products hit the market using this new technology.
Today, the leading banking provider Temenos has announced the release of its Responsible Generative AI solutions for core banking as part of its “AI-infused banking platform”.
Temenos claims that this generative AI tool is explainable and can be verified by users and regulators. This will be critical as regulators keep a close eye on everything related to generative AI.
So what can this new software do? It can be applied to internal as well as customer-facing operations and can reportedly allow “banks to create products in real time based on customer preferences.”
It will connect to existing core systems with minimal integrations and can be deployed as a standalone product.
We are still in the first inning when it comes to generative artificial intelligence for finance. Beyond chatbots, we haven’t seen much in the way of live products yet, but that’s likely to change as tools like this launch.
In the foreground
Temenos has announced the launch of its Responsible Generative AI solutions as part of its AI Banking Platform.
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Peter Renton is president and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and is the author and creator of the Individual fintech podcastthe first and longest running fintech interview series.