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

Temenos Introduces On-Premises Generative AI for Banks

Temenos, a leading SaaS Cloud Banking company specializing in enterprise software for banks and financial services, has announced the launch of its high-performance on-premises generative AI solution. Built on Nvidia's AI platform, this innovative offering aims to revolutionize how banks process and utilize data, enabling them to deliver more personalized and customer-centric services 1

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Technical Implementation and Benefits

The new generative AI solution is executed using Nvidia NIM microservices, which are part of the Nvidia AI Enterprise software platform. This implementation provides optimized AI inference throughput and latency, along with facilitated deployment, scaling, monitoring, and management of AI models 2

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Key benefits of the Temenos generative AI solution include:

1. Efficient processing of unstructured data
2. Real-time insights for banks
3. Enhanced personalization of customer services
4. Improved control over data
5. Flexibility to scale AI capabilities

Applications in Banking Operations

Temenos has embedded Explainable AI (XAI) in multiple areas within its solutions, including:

1. Credit scoring
2. Anti-money laundering
3. Payment exceptions
4. Customer engagement
5. Cross-selling

These AI-driven features enable business users to access instant insights and reports, potentially transforming operations, increasing productivity, and enhancing customer experiences 1

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Industry Perspectives

Barb Morgan, Chief Product and Technology Officer at Temenos, emphasized the significance of this collaboration: "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" 2

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Malcolm deMayo, Vice President of Global Financial Services at Nvidia, highlighted the transformative potential of AI in financial services: "AI is reshaping financial services, letting banks reimagine customer interactions and optimize secure, scalable and efficient operations" 3

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Deployment and Distribution

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. This approach ensures wider accessibility and easier implementation for banks seeking to leverage these advanced AI capabilities 2

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AI Adoption in Financial Services

While the adoption of AI in financial services is increasing, some challenges remain. According to PYMNTS Intelligence research, many CFOs report limited returns on investments (ROI) in AI. However, despite mixed results, 78% of CFOs plan to increase their generative AI budgets next year, indicating a strong belief in the technology's long-term potential 3

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