Temenos Expands AI Capabilities with New Generative AI Solutions

Temenos has unveiled its latest advancement in artificial intelligence, introducing Responsible Generative AI solutions as part of its AI banking platform, according to Finextra. This move follows the launch of their first generative AI tool in September of the previous year, which was designed for automatic classification of customer banking transactions.

The newly introduced AI solutions are integrated with Temenos Core and Financial Crime Mitigation (FCM). These tools are designed to enhance both customer and middle office operations, as well as product development. Users can now utilize natural language models to generate insights and reports, enabling banks to create real-time products tailored to customer preferences.

Temenos emphasizes that their generative AI solutions are explainable and verifiable by both users and regulators. Initially, these products will be released for Temenos Wealth and Temenos Digital.

Prema Varadhan, President of Product and COO at Temenos, commented on the launch: «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. 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.»

Bola Rotibi, Chief Analyst at CCS Insight, added: «GenAI 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.»

This new development by Temenos marks a significant step towards more intelligent and personalized banking solutions, ensuring that AI deployment remains secure and transparent for all stakeholders.

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