Generative AI comes to core banking with Temenos

While the AI hype cycle continues, we are starting to see real fintech products come to market using this new technology.

Today, core 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 this generative AI tool is explainable and that it can be verified by users and regulators. This will be critical as regulators are keeping a very close eye on all things generative AI.

So what can this new software do? It can be applied to internal operations as well as customer-facing ones and can reportedly enable “banks to create products in real time based on customers’ 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 AI for finance. Beyond chatbots, we have not seen much in the way of live products yet, but that is likely about to change with the launch of tools like this.

Featured

> Temenos ramps up AI offensive

www.finextra.com

Temenos has announced the launch of its Responsible Generative AI solutions as part of its AI banking platform.

From Fintech Nexus

> What Generation Z and millennials expect: Here’s how to give it to them

By Tony Zerucha

As 43% of Generation Z and millennials increase credit card spending, it’s an incentive to learn the preferences of this influential group.

Podcast

Caleb Avery, Founder & CEO of Tilled on building a PayFac-as-a-Service

In today’s world of embedded payments any software company (ISV) can generate revenue from payments processing. PayFac-as-a-Service…

?? Listen Now

Webinar

Building Trust: Identity Verification Strategies in a World of Deepfakes and AI

May 22, 2pm EDT

With the rapid proliferation of deepfakes and advancements in AI, businesses face new challenges in verifying identities…

?? Register Now

Also Making News

• LatAm:?Aplazo is using buy-now-pay-later as a stepping stone to financial ubiquity in Mexico Four-year-old Mexican BNPL startup Aplazo facilitates fractionated payments to offline and online merchants even when the buyer doesn’t have a credit card.? 2024 TechCrunch. All rights reserved. For personal use only.

• USA:?Gen Z loves generative AI-powered customer service chat: Affirm CEO Max Levchin, CEO of the buy now/pay later lender, said recent tests show young adults prefer interacting with intelligent chatbots over phone-based agents, but the company doesn’t foresee major cost savings from generative AI for a few more years.

• USA:?Capturing The Digital Dividend: The Power Of Conversations In Banking Most bank mobile apps are a sea of sameness. Here’s how banks can listen to the signals that customers are sending digitally and bring conversations back into banking.

• Europe:?Raisin moves into net profit German savings and investment products marketplace Raisin has almost doubled revenues for 2023 and moved into net profitability for the first time.

• LatAm:?Bitso Launches Web3 Digital Wallet Across Latin America New wallet supports multiple networks, enhancing user interaction with blockchain technology