Temenos Unveils Generative AI Solutions for Banking Efficiency and Profitability

Temenos, a leader in SaaS cloud banking solutions, has introduced new generative AI capabilities as part of its AI-enhanced banking platform, as outlined in The Fintech Times. This launch aims to revolutionize how banks handle their data, significantly boosting productivity and profitability.

The generative AI from Temenos allows users to make natural language queries, producing unique insights and reports quickly. This innovation promises to cut down the time business stakeholders spend accessing crucial data. Additionally, the AI solution ensures that results are verifiable by both users and regulators, addressing major challenges in data integration, security, and privacy.

Prema Varadhan, President of Product and COO at Temenos, highlighted the benefits of their AI technology: “We all use AI in our daily lives and benefit from the personalized services and insight. Temenos Explainable AI offers transparent, auditable insights while our generative AI-infused platform delivers these insights instantly in an intelligent and personalized way.”

The new AI solutions can enhance customer and middle office operations, as well as product development, enabling banks to create real-time products tailored to customer preferences. In core banking, it improves workflows and daily operations, significantly reducing the time required to generate insights and reports.

Bola Rotibi, Chief Analyst at CCS Insight, commented on the transformative potential of generative AI in banking: “Generative AI heralds a new era of efficiency and competitiveness in banking, with the potential to revolutionize customer experiences, streamline processes, and uncover actionable insights.”

With these advancements, Temenos aims to provide financial institutions with the confidence to experiment and responsibly deploy generative AI models, ensuring robust and secure AI practices are at the forefront.