Temenos introduces Next-Gen AI solutions for core banking

Temenos, a leader in banking software, has launched its Responsible Generative AI solutions, marking a significant advancement in AI-infused banking platforms. Temenos designed these solutions to seamlessly integrate with Temenos Core and Financial Crime Mitigation (FCM), aiming to revolutionise how banks manage data, enhance productivity, and improve profitability.

The new Generative AI solutions from Temenos enable users to perform natural language queries, generating unique insights and reports swiftly. This reduces the time required for business stakeholders to access critical data. The technology is transparent and explainable, ensuring that users and regulators can easily verify the results produced. With a robust security framework, these solutions are set to transform banking efficiency, operations, and product management.

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

Transformative AI solutions for core banking and regulators

Temenos Generative AI solutions in core banking operations enhances workflows and day-to-day queries, allowing banks to innovate in product creation and account management. It empowers business users to interact with data using free text speech, providing insights in a simplified manner. This promises to significantly reduce the time spent on such tasks, enabling banks to concentrate on optimising operations and improving customer experiences.

In Financial Crime Mitigation, the AI assists business users in extracting intelligence from data, enabling quick cataloging of information such as financial crime alerts. This can identify themes or root causes that would take humans much longer to analyse manually. Temenos Generative AI also provides tailored productivity insights, such as where tuning can improve Straight Through Processing (STP).

Bola Rotibi, Chief Analyst at CCS Insight, commented: ““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.”