Temenos Launches Responsible Generative AI Solutions for Core Banking

Temenos, a leading provider of SaaS cloud banking solutions, has launched its first Responsible Generative AI solutions for core banking, as highlighted in FinTech Magazine. These innovative solutions are part of the Gen AI infused banking platform, designed to enhance efficiency, operations, and product management by integrating with Temenos Core and Financial Crime Mitigation (FCM).

The Responsible Gen AI solutions by Temenos are notable for their compatibility with FCM and their explainability, which stems from extensive R&D efforts. Compliance and a commitment to ESG principles are central to Temenos’ approach as it scales its AI initiatives.

Temenos’ new Gen AI solutions offer tangible benefits for banks, enabling professionals to access unique insights and reports through natural language queries. This transparency ensures that users and regulators can quickly verify the results, making these solutions ideal for customer and middle office operations, as well as product development.

These AI solutions can be deployed as standalone systems or integrated with existing core systems. They are versatile, available on-premise, via public or private clouds, or through Temenos’ SaaS offerings.

Prema Varadhan, President Product and COO at Temenos, emphasized the value of AI in daily life, stating, «Temenos Explainable AI offers transparent, auditable insights while our Generative AI infused platform delivers these insights instantly in an intelligent and personalized way. Temenos ensures responsible AI practices by providing explainability, security, safe deployment, and banking-specific capabilities. With our AI platform, banks can rapidly implement real-world use cases that enhance efficiency, boost profitability, and create hyper-personalized customer experiences.»

The introduction of Temenos’ Gen AI solutions marks a significant shift from the hype surrounding AI to its practical implementation. The fintech sector is at the forefront of this change, helping banks to harness great data and the right tools to enhance customer experiences and competitiveness.

Bola Rotibi, Chief Analyst at CCS Insight, highlighted the broader industry trend, saying, «Gen AI heralds a new era of efficiency and competitiveness in banking, with the potential to revolutionize customer experiences, streamline processes, and uncover actionable insights. Banks are naturally cautious in embracing generative AI to the full and want to ensure they do so responsibly. A proven track record in delivering responsible AI will be vital for financial institutions to confidently experiment and deploy generative AI models for critical business functions across the enterprise. Providers such as Temenos that place responsible AI operations at the heart of their banking solutions are well-placed to give financial institutions confidence to experiment and deploy Gen AI solutions to critical business functions across the enterprise.»

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