Temenos’ AI to create hyper-personalised banking experiences

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Temenos has launched its Responsible Generative AI solutions to transform efficiency, operations and product management in banking.

As part of its AI-infused banking platform, these solutions will integrate with Temenos Core and Financial Crime Mitigation (FCM). This launch aims to improve the way banks interact with their data, boosting productivity and profitability to increase returns on investment.

Prema Varadhan, President Product and COO at Temenos, commented: “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.”

Through Generative AI, users will be able to generate unique insights and reports through natural language queries, reducing the time required for business stakeholders to access critical data. For instance, valuable information such as the most profitable customers categorised by customer type and demographics will be instantly accessible.

To ensure transparency, Temenos’ Generative AI allows both users and regulators to verify the results it produces and is equipped with a robust permissions and access security framework.

The AI is set to play a transformative role in core banking operations, streamlining user workflows, journeys and day-to-day queries to enable banks to enhance productivity in product creation and account management.

In the realm of Financial Crime Mitigation, Temenos Generative AI empowers business users to extract intelligence from data through free text input. This capability enables bank staff to analyse information, such as financial crime alerts, identifying underlying themes or root causes that would otherwise require hours of manual effort.

Bola Rotibi, Chief Analyst at CCS Insight, said: “GenAI 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 GenAI solutions to critical business functions across the enterprise.”

Temenos recently underwent a significant leadership change. In April, Jean-Pierre Brulard was appointed CEO of the banking software developer, which brought an end to Andreas Andreades 25-year career with the company.