Temenos Launches Core Banking Responsible Gen AI Solutions

Leading software-as-a-service (SaaS) and cloud banking provider Temenos has launched its first Responsible Generative AI solutions for core banking. 

As part of its Gen AI infused banking platform, these new solutions are designed to integrate with Temenos Core and Financial Crime Mitigation (FCM), helping banks revolutionise how they interact with their data to transform efficiency, operations and product management.

What’s more, Temenos’ Responsible Gen AI solutions can help banks realise sizeable returns on their investments.

Not only are Temenos’ new solutions responsible (FCM compatible), but they are also explainable thanks to the extensive R&D Temenos has undertaken in support of its AI initiatives. Compliance has been key for Temenos as it has scaled, alongside its commitment to ESG. 

Temenos: AI-led efficiencies for financial services

For banks, there are tangible benefits to Temenos’ new suite of Gen AI solutions. Simply by engaging in natural language queries, professionals can gain access to unique insights and reports – unlocking crucial data for stakeholders in rapid time. 

By championing transparency, Temenos ensures users and regulators are quickly able to verify the results produced. 

Its new solutions can be applied in customer and middle office operations or product development, enabling banks to create products in real-time based on customers’ preferences.

Furthermore, Temenos’ solutions can be deployed as standalone for banks – connecting with existing core systems – and on-premise – via any public or private clouds or delivered via Temenos SaaS. 

Prema Varadhan, President Product and COO, Temenos, says: “We all use AI in our daily lives and benefit from the personalised services and insight. 

“Temenos Explainable AI offers transparent, auditable insights while our Generative AI infused platform delivers these insights instantly in an intelligent and personalised 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-personalised customer experiences.”

From AI hype to AI action

Temonos’ new suite of Gen AI solutions is not just significant for its banking clients, it also points to a wider industry trend where Gen AI is being actioned rather than merely spoken about. 

Fintech sits at the crux of change, powering a shift from Gen AI hype to Gen AI implemetion, as banks first see the value of having great data, and then look to onboard to right tools to access and use it in ways they could never have before. 

Today, leading banks know this, which is why we are now entering an era of increased competition in banking – as financial institutions race to provide the best customer experience. 

Bola Rotibi, Chief Analyst at CCS Insight, comments: “Gen AI heralds a new era of efficiency and competitiveness in banking, with the potential to revolutionise 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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