The way banks interact with their data is being revolutionized by these secure technologies, which easily integrate with Temenos Core and Financial Crime Mitigation (FCM). This will increase productivity and profitability and yield a significant return on investment.

Temenos has made significant R&D investments to support its AI aspirations, which have led to the development of patented Explainable AI (XAI) solutions. With its AI-infused platform, Temenos is now expanding its leadership into generative AI for banking, allowing banks to implement AI solutions more quickly and safely.

By using natural language queries to produce original insights and reports, Temenos Generative AI users may dramatically cut down on the amount of time it takes for business stakeholders to obtain and unleash the value of vital data.For instance, responses and outcomes for the most lucrative clients according to client type and demographics are made available instantly.

Because Temenos Generative AI is clear and comprehensible, users and regulators may independently assess the outcomes generated. Furthermore, these technologies have the potential to revolutionize banking operations, efficiency, and product management when combined with a strong permissions and access security framework. Temenos Generative AI solves banks' primary worries about data security and privacy in addition to overcoming the difficulties banks have implementing and integrating this kind of technology with their current data infrastructure.

Banks may now generate goods in real-time based on consumer preferences thanks to the new Generative AI solutions, which can be used in middle office and customer operations as well as product creation. With the aid of explainable and generative AI insights, banks can now leverage the power of their users and their knowledge to greater effect. For banks, they can be installed independently and connect to their current core systems with little to no integration. Temenos SaaS can be used to deliver the solutions, or they can be implemented on-site or on any type of public or private cloud.

"We all use AI in our daily lives and benefit from the personalized services and insight," said Prema Varadhan, President and COO of Temenos. While our Generative AI-infused platform instantaneously delivers these insights in an intelligent and tailored manner, Temenos Explainable AI provides transparent, auditable insights. Temenos offers banking-specific features, security, safe deployment, and explainability to guarantee responsible AI practices. Banks can quickly deploy practical use cases that increase productivity, increase profitability, and produce highly customized client experiences with our AI platform.

"GenAI heralds a new era of efficiency and competitiveness in banking, with the potential to revolutionize customer experiences, streamline processes, and uncover actionable insights," stated Bola Rotibi, Chief Analyst, CCS Insight. Banks want to make sure they use generative AI properly, so they are understandably wary of adopting it fully. Financial institutions must have a track record of responsibly delivering AI before they can credibly experiment and implement generative AI models for crucial business operations throughout the organization. Companies like Temenos, who integrate ethical AI practices into their banking solutions, are in a good position to encourage financial institutions to experiment and apply GenAI solutions to vital business processes throughout the organization.

Temenos Generative AI improves user workflows, trips, and routine queries in core banking operations, allowing banks to transform efficiency in account management and product creation. Temenos Generative AI enables business people to interact with data through free text speech, obtaining original insights communicated in an easy-to-understand manner, while also cutting down on the time and effort needed to generate insights, reports, and actions. The time spent on these responsibilities should be significantly reduced thanks to this streamlined procedure, freeing up banks to concentrate on streamlining operations and improving client satisfaction.

Temenos Generative AI is enabling business users to leverage free text to extract intelligence from data in Financial Crime Mitigation.This makes it possible for bank employees to swiftly organize data, like alerts about financial crime, and find patterns or underlying reasons that might otherwise require hours or more of labor from people. Managers can also benefit from Temenos Generative AI's ability to unlock productivity data and provide relevant, institution-specific insights. It can, for instance, provide information on where adjustments might be made to enhance Straight Through Processing (STP).

Temenos plans to deliver Generative AI solutions for Temenos Digital and Temenos Wealth soon. With an industry-first safe solution for banks that uses generative artificial intelligence (AI) to automatically categorize customers' banking transactions, Temenos has already led the market.