Temenos Unveils GenAI Solutions for Core Banking

• Temenos, a leading banking software company, has launched its Generative AI (GenAI) solutions as part of its AI-infused banking platform.
• The GenAI solutions aim to revolutionize banking operations by improving data interaction, boosting productivity, and enhancing profitability.
• The new solutions can be deployed as standalone for banks, connecting with their existing core systems with minimal integration.

Temenos introduces GenAI solutions to revolutionize core banking operations, aiming to improve data interaction, boost productivity, and enhance profitability.

GenAI: A New Era of Efficiency and Competitiveness in Banking

Prema Varadhan, President Product and COO, Temenos, stated that the GenAI solutions herald a new era of efficiency and competitiveness in banking. The solutions offer transparent, auditable insights while delivering these insights instantly in an intelligent and personalized way. Temenos ensures responsible AI practices by providing explainability, security, safe deployment, and banking-specific capabilities. With the AI platform, banks can rapidly implement real-world use cases that enhance efficiency, boost profitability, and create hyper-personalized customer experiences.

Responsible AI Operations at the Heart of Banking Solutions

Bola Rotibi, Chief Analyst, CCS Insight, commented that banks are naturally cautious in embracing generative AI to the full and want to ensure they do so responsibly. 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.

Banque Internationale à Luxembourg Goes Live with Temenos

Temenos also announced that Banque Internationale à Luxembourg (BIL) has gone live with Temenos core banking and payments. Following a complex transformation project, replacing its 30-year-old legacy core banking system, the switch-over to the new Temenos platform was successfully completed in just one weekend. On the new Temenos Banking Platform, BIL can integrate and automate a wide range of capabilities, including cash accounts, deposits, lending, securities, and treasury.

Conclusion

The launch of Temenos’ GenAI solutions marks a significant step forward in the integration of AI in banking operations. By improving data interaction, boosting productivity, and enhancing profitability, these solutions have the potential to revolutionize the banking industry. With responsible AI operations at the heart of their solutions, Temenos is well-positioned to lead this transformation.