Temenos Launches On-Premises Generative AI for Banks in Collaboration with Nvidia

Temenos Brings On-Premises Generative AI for Banks with Nvidia

AI solutions support scalable, efficient, and compliant banking operations. SaaS Cloud Banking company Temenos, specialising in enterprise software for banks and financial services, has announced the launch of its high-performance on-premises generative AI, built on Nvidia's AI platform. This offering gives banks the ability to process unstructured data securely and efficiently. According to the company, the new solution enables banks to transform data into real-time insights, delivering personalised, customer-centric services with full control over their data. Also Read: Indosat, GoTo Launch Sahabat-AI Open Source LLM in Indonesia "Temenos will deploy its own generative AI on premises on Nvidia's accelerated computing platform, providing banks with exceptional speed and precision in delivering AI-driven services," the Switzerland-based company announced on Tuesday. Temenos generative AI is executed using Nvidia NIM microservices, part of the Nvidia AI Enterprise software platform. This platform provides optimised AI inference throughput and latency, as well as facilitated deployment, scaling, monitoring and management of AI models. The company says its generative AI solutions on Nvidia's platform offer banks the flexibility to scale their AI capabilities and meet customer demands quickly, supporting more effective, responsive and compliant banking. With the high-performance Nvidia AI platform, Temenos says it is helping banks future-proof their operations and elevate the customer experience. Also Read: L&T Technology Services Acquires Intelliswift to Boost AI and Digital Engineering Capabilities Barb Morgan, Chief Product and Technology Officer at Temenos, commented, "This collaboration exemplifies the strength of combining Temenos' banking expertise with Nvidia's industry-leading AI infrastructure, giving banks powerful tools to serve customers in real-time with precision and control. At Temenos, we believe in responsible, customer-centric AI that empowers banks to innovate on their own terms. With Nvidia, we're helping enable banks to unlock the future of financial services -- where data-driven insights meet unparalleled performance and customer-centric innovation." Malcolm deMayo, Vice President of Global Financial Services at Nvidia, said, "AI is reshaping financial services, letting banks reimagine customer interactions and optimise secure, scalable and efficient operations. With Temenos's integration of Nvidia NIM microservices, banks can access real-time insights, identify areas for improvement, and deliver more personalized and responsive customer experiences." Explainable AI is embedded in multiple areas within Temenos solutions including credit scoring, anti-money laundering, payment exceptions, customer engagement and cross-selling. Temenos generative AI solutions can give business users instant access to unique insights and reports, enabling them to transform operations, increase productivity and enhance customer experience, the company explained. Additionally, Temenos generative AI solutions will run on Nvidia's verified deployment architecture, allowing them to be distributed and deployed by Nvidia's network of partners, the company said. Also Read: SAS Acquires Hazy to Strengthen Synthetic Data and AI Capabilities What is Explainable AI? Explainable AI (XAI) refers to artificial intelligence systems designed to provide human-understandable explanations for their decision-making processes.

Temenos to deploy GenAI on Nvidia

Banks can deliver more personalized, customer-centered experiences by processing unstructured data efficiently and securely on site with Temenos' generative AI built with the NVIDIA accelerated computing platform, including NVIDIA GPUs and NVIDIA AI Enterprise software. With this announcement, Temenos will deploy its own generative AI on premises on NVIDIA's accelerated computing platform, providing banks with exceptional speed and precision in delivering AI-driven services. Temenos generative AI is executed using NVIDIA NIM microservices, part of the NVIDIA AI Enterprise software platform, which provides optimized AI inference throughput and latency, as well as facilitated deployment, scaling, monitoring and management of AI models. Hence, Temenos' generative AI solutions on NVIDIA's platform give banks the flexibility to scale their AI capabilities and meet customer demands quickly, supporting more effective, responsive and compliant banking. The collaboration with NVIDIA emphasizes Temenos' commitment to responsible AI, allowing banks to harness the full power of data while ensuring privacy and control. With the high-performance NVIDIA AI platform, Temenos is helping banks future-proof their operations and elevate the customer experience. Barb Morgan, Chief Product and Technology Officer at Temenos, commented: "This collaboration exemplifies the strength of combining Temenos' banking expertise with NVIDIA's industry-leading AI infrastructure, giving banks powerful tools to serve customers in real-time with precision and control. At Temenos, we believe in responsible, customer-centric AI that empowers banks to innovate on their own terms. With NVIDIA, we're helping enable banks to unlock the future of financial services -- where data-driven insights meet unparalleled performance and customer-centric innovation." Malcolm deMayo, Vice President of Global Financial Services at NVIDIA, said: "AI is reshaping financial services, letting banks reimagine customer interactions and optimize secure, scalable and efficient operations. With Temenos's integration of NVIDIA NIM microservices, banks can access real-time insights, identify areas for improvement, and deliver more personalized and responsive customer experiences." Explainable AI is embedded in multiple areas within Temenos solutions including credit scoring, anti-money laundering, payment exceptions, customer engagement and cross-selling. Temenos generative AI solutions can give business users instant access to unique insights and reports, enabling them to transform operations, increase productivity and enhance customer experience. Additionally, Temenos generative AI solutions will run on NVIDIA's verified deployment architecture, enabling them to be distributed and deployed by NVIDIA's network of partners.

Temenos Offers On-Site GenAI From Nvidia for Banks | PYMNTS.com

Banking software provider Temenos says it has begun offering its "on-premises" generative artificial intelligence (AI) to banks. The tool, built with Nvidia's AI platform, is designed to help lenders glean real-time insights from their data while maintaining control of their information, Temenos said in a Tuesday (Nov. 19) news release. "AI is reshaping financial services, letting banks reimagine customer interactions and optimize secure, scalable and efficient operations," said Malcolm deMayo, Nvidia's vice president of global financial services. "With Temenos's integration of Nvidia NIM microservices, banks can access real-time insights, identify areas for improvement, and deliver more personalized and responsive customer experiences." NIM, the release said, is part of Nvidia's AI enterprise software platform. The solutions offered by the partnership, the companies argue, offer banks the flexibility to scale their AI capabilities and meet customer demands quickly. Banks can provide "more personalized, customer-centered experiences by processing unstructured data efficiently and securely on site," the release added. The new offering comes as AI usage continues to increase within the financial world, according to PYMNTS Intelligence research. But in spite of the increased usage of GenAI, many CFOs say they are seeing limited returns on investments (ROI). Just 13% of CFOs report "very positive" ROI, down from 27% in March. And 65% of CFOs pointed to limited ROI as a drawback to implementing AI at their firms. "But even companies reporting limited ROI are determined to press forward with their AI investments, with 78% of CFOs planning to increase their GenAI budgets next year," PYMNTS wrote recently. "This willingness to continue investing, despite mixed results, underscores CFOs' long-term belief in the technology's potential." Meanwhile, PYMNTS on Tuesday wrote about Nvidia's growing footprint in the AI infrastructure space, and the rising concerns about the technology's impact on the American power grid. Allan Schurr, chief commercial officer at energy transition company Enchanted Rock, told PYMNTS that -- contrary to popular belief -- there's no shortage of baseload power to support large AI-driven energy demands. The real issue is AI companies making sure they have flexible power during shortages. "For example, most regions have about 25% additional capacity if the data center can self-supply from onsite power generation during the top 5% of the annual hours," he said. "Since data centers typically install onsite backup generation, shifting to cleaner microgrids for this backup power can also allow them to achieve this 5% self-supply."