Fintech Nexus Newsletter (May 13, 2024): Generative AI Comes To Core Banking With Temenos

Republished By Plato

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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.

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> 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.

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Peter Renton is the chairman 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 he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

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