NVIDIA & GFT: Innovating for Banks in Open-Source AI Deal
Tech consulting firm GFT Technologies, which provides digital transformation services to banks and insurers globally, has announced a partnership with NVIDIA to develop artificial intelligence solutions for financial institutions.
The partnership will utilise NVIDIA's AI Enterprise software platform to develop custom large language models (LLMs) - artificial intelligence systems trained on vast amounts of text data - specifically for banking applications.
These models will be built using open-source technology, including Google's Gemma and Meta's Llama 3.1 405B, which allow organisations to modify and deploy AI models without proprietary restrictions.
"These tools will drive efficiency and create fresh growth opportunities for our clients," says Marco Santos, Co-CEO of GFT. "Through this collaboration, we aim to set new standards in digital innovation."
"These tools will drive efficiency and create fresh growth opportunities for our clients. Through this collaboration, we aim to set new standards in digital innovation."
GFT and NVIDIA will focus on developing retrieval-augmented generation (RAG) workflows - systems that combine LLMs with specific company data to improve accuracy - and AI assistants for customer service applications.
This approach will enable banks to leverage public models while maintaining control over sensitive data.
Technical Architecture
Per the deal, GFT will implement NVIDIA's suite of AI tools, including NIM microservices for model deployment, Triton Inference Server for model serving and NeMo for model development.
The solution will be available both on-premises and via cloud deployment, giving financial institutions flexibility in their implementation approach.
The collaboration extends to NVIDIA's Omniverse platform, which provides tools for creating digital twins - virtual representations of physical systems.
In manufacturing environments, this technology enables real-time monitoring and simulation of factory operations, alongside automated visual inspection tools for quality control and process optimisation, leveraging NVIDIA's expertise in computer vision technology.
Market Impact
The partnership builds on GFT's existing AI capabilities through its AI.DA Marketplace, a platform for deploying AI solutions in financial services.
It comes as financial institutions are increasingly seeking to implement AI solutions for fraud detection, risk management and customer service automation.
This solution could prove vital for banks, as the ability to fine-tune open-source models offers banks the opportunity to develop customised solutions while maintaining control over their data and infrastructure.
GFT: Expanding AI capabilities
The initiative represents a significant expansion of GFT's AI capabilities, following growing demand for its data analytics solutions.
The company's position in the market has strengthened through its continuous development of the AI.DA Marketplace, leading to its recognition as a leader in AI implementation.
“By combining NVIDIA's advanced technology in hardware and software with our data and AI expertise, we're delivering solutions that can drive real business value,” says Ignasi Barri, Global Head for Data and AI at GFT.
NVIDIA: Expanding fraud services
It comes as financial institutions are increasingly seeking to implement AI solutions for fraud detection, risk management and customer service automation.
This solution could prove vital for banks, as the ability to fine-tune open-source models offers banks the opportunity to develop customised solutions while maintaining control over their data and infrastructure.
GFT: Expanding AI capabilities
The initiative represents a significant expansion of GFT's AI capabilities, following growing demand for its data analytics solutions.
The company's position in the market has strengthened through its continuous development of the AI.DA Marketplace, leading to its recognition as a leader in AI implementation.
“By combining NVIDIA's advanced technology in hardware and software with our data and AI expertise, we're delivering solutions that can drive real business value,” says Ignasi Barri, Global Head for Data and AI at GFT.
NVIDIA: Expanding fraud services
NVIDIA’s partnership with GFT to support financial services comes after the former launched a new fraud detection system, combining graph neural networks with traditional algorithms, at Money20/20 USA 2024.
At the time of launch, Pahal Patangia, Global Developer Relations Lead for Consumer Fintech at Nvidia, said: "As AI models expand in size, intricacy and diversity, it’s more important than ever for organisations across industries — including financial services — to harness cost-and energy-efficient computing power.
“Traditional data science pipelines lack the necessary compute acceleration to handle the massive volumes of data required to effectively fight fraud amid rapidly growing losses across the industry.
"Leveraging RAPIDS Accelerator for Apache Spark could help payment companies reduce data processing times and save on their data processing costs.”
**************
Make sure you check out the latest edition of FinTech Magazine and also sign up to our global conference series – FinTech LIVE 2024.
**************
FinTech Magazine is a BizClik brand.
