Temenos creates ai center of excellence for digital banking platform

Banking software provider Temenos is increasing the development of artificial intelligence capabilities throughout its digital banking platform.

According to a press release, the initiative will enable banks to offer personalized services to customers, augment users’ decisions with data-driven machine intelligence, and maximize straight-through-processing rates for financial transactions at reduced cost with limited or no human intervention.

As part of this global initiative, Temenos has launched a center of excellence for artificial intelligence as its innovation engine. The center will foster a collaborative ecosystem with Temenos banking clients and partners to help identify and validate use cases where AI could have an immediate impact on customer experience, as well as operational excellence, the release said.

Temenos will integrate AI throughout its digital banking platform and is assisting banks to get AI-ready by providing data architectures and integration tools that promote real-time data quality and governance, and allow the consumption of high volumes of data by AI and machine learning applications.

“Our vision is to build and fully embed own and third-party AI capability throughout our banking platform to improve efficiency, automate processes, and crucially provide personalized customer engagements,” Prema Varadhan, vice president of the Temenos AI center of excellence, said in the release.

“We want to make AI capability accessible to all banks regardless of their type and size. Together with our customers and partners we aim to leverage our center of excellence as an innovation engine that will enable banks harness the full potential of new technologies.”