GlobeNewswire by notified

Temenos First to Launch Secure Generative AI Solution in Banking to Help Banks Offer Personalized Experiences


Temenos is a leader in true Explainable AI and developing Generative AI with ethical and responsible deployment in banking

GENEVA, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Temenos has (SIX: TEMN) today launched an industry-first secure solution for banks using Generative Artificial Intelligence (AI) to automatically classify customers’ banking transactions.

Transactions classification helps banks provide personalized insights and recommendations, offer more engaging and intuitive digital banking experiences, and enhance customer loyalty through more relevant products and offers.

A leader in Explainable AI, Temenos is the first to deploy Generative AI and Large Language Models (LLM) in banking with a solution for transaction classification. Traditional AI/ML systems are already paving the way, improving operations, and enhancing customer experiences. However, Generative AI and LLM can better understand language, video, audio, images, and code to generate new outputs of different modalities. Hence, the rise of Generative AI promises to unleash a wave of innovation and personalization, revolutionizing how organizations interact with customers.

Temenos’ new Generative AI solution enables banks to classify and label customer transactions from free text narrative automatically and with a high degree of accuracy in different languages. Fast and accurate classification of transactions is important for many banking use cases, from next best product, cashflow prediction, customer budget advice, peer grouping, customer attrition analysis and many others.

The Temenos Generative AI solution is part of the Temenos platform and is packaged with Temenos’ digital banking capabilities. Furthermore, it can be deployed as an independent capability for banks to connect with their existing core system through APIs with little or no additional integration. The new product provides a secure Generative AI solution where the models are trained on anonymous data and in production, the final models are deployed in the customer environment with no need to exchange information with a third party.

In a pilot with BlueShore Financial, Temenos’ Generative AI solution was used to provide personalized insights on income and expenses. With their banking app, clients would be able to view income from various sources such as salary, interest, dividends, and rental income, with sections aligned with Canada’s tax categories to check their intra year tax burden and reconcile end-of-year tax reporting. A ‘Year in Review’ feature, with statistics on spending and saving, and comparisons to others in their cohort, provides an interesting way for customers to view their financial highlights.

Fred Cook, CIO, BlueShore Financial, said: “At BlueShore Financial we are passionate about improving our clients' financial well-being in an interconnected, digital world. Data and AI is critical to our strategy, and we are excited to safely and securely leverage new technologies which deliver innovative new customer experiences.”

Prema Varadhan, President Product and COO, Temenos, commented: “Temenos is at the forefront of AI in banking. The first to bring true explainable AI to the financial services industry, which helps financial institutions explain in simple business language to customers and their clients alike how AI-based decisions are taken. We have continually invested in embedding Explainable AI and ML capabilities into our banking platform and make available all products through an easy-to-use interface or APIs. Building on our experience with Explainable AI, Temenos is now harnessing the power of Generative AI as the next step in a strategic AI roadmap, powering the future of banking with ethical, secure, and responsible deployment. We believe that such transparency and explainability will be critical for all AI use cases in banking to help satisfy regulatory requirements.”

Explainable AI software capabilities are embedded in multiple areas within Temenos solutions including Wealth Management such as with our Robo-Advisor, Anti Money Laundry, attrition minimization, Credit Scoring, Customer management, Customer support, Cross-Selling, smart money management, Collections Optimization, Tailored Pricing, and an active ongoing roadmap for enhancing Wealth Robo-Advisor.

By embedding AI and Machine Learning into its products, Temenos has accelerated the release of explainable models that underpin multiple – and growing - AI use cases that focus on creating seamless customer journeys and automating manual processes with self-learning capabilities.

Transaction classification is the first Temenos product to leverage Generative AI and the company is exploring further use cases for the technology, such as in chat bots and customer interfaces as well as guiding customer journeys and triage and routing customer queries.

About Temenos
Temenos (SIX: TEMN) is the world’s leading open platform for composable banking, creating opportunities for over 1.2 billion people around the world every day. We serve 3000 banks from the largest to challengers and community banks in 150+ countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.

For more information, please visit

To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

FDA Approves Biogen’s TOFIDENCE™ (tocilizumab-bavi), a Biosimilar Referencing ACTEMRA®29.9.2023 22:06:00 CEST | Press release

TOFIDENCE (BIIB800) becomes the first tocilizumab biosimilar to gain FDA approval in the United States FDA approval is based on a robust analytical, non-clinical and clinical data package comparing TOFIDENCE to the reference product ACTEMRA CAMBRIDGE, Mass., Sept. 29, 2023 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) announced that the U.S. Food and Drug Administration (FDA) has approved TOFIDENCE (tocilizumab-bavi) intravenous formulation, a biosimilar monoclonal antibody referencing ACTEMRA. The TOFIDENCE intravenous formulation is approved for the treatment of moderately to severely active rheumatoid arthritis, polyarticular juvenile idiopathic arthritis and systemic juvenile idiopathic arthritis. TOFIDENCE is the first tocilizumab biosimilar approved in the United States. Biosimilars are biologic products that have been demonstrated to have equivalent efficacy and comparable safety as the approved reference product, with the advantage that they may offer cost savings and promote

Monument Reports Fourth Quarter and Fiscal 2023 Results29.9.2023 21:26:28 CEST | Press release

Gross Revenue of US$12.39 Million and Cash Cost of US$917/Oz for Gold Sulphide Production and US$1,622/Oz for Gold Oxide Production VANCOUVER, British Columbia, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Monument Mining Limited (TSX-V: MMY and FSE: D7Q1) “Monument” or the “Company” today announced its annual financial results for the year ended June 30, 2023. All amounts are in United States dollars unless otherwise indicated (refer to for full financial results). Cathy Zhai, the President and CEO commented, “Fiscal 2023 was a milestone year for the Company with the gold sulphide project completed, and the flotation plant was put into production at the Selinsing Gold Mine in Malaysia. The commercial production has also been reached in August 2023 subsequent to the year end. It again demonstrates Monument has been able to deliver what’s been promised and now we are ready for the next corporate move.” Fiscal Year 2023 Highlights: Construction of the Selinsing sulphide flotation pla

Nokia Corporation: Repurchase of own shares on 29.09.202329.9.2023 20:00:00 CEST | Press release

Nokia Corporation Stock Exchange Release 29 September 2023 at 21:00 EEST Nokia Corporation: Repurchase of own shares on 29.09.2023 Espoo, Finland – On 29 September 2023 Nokia Corporation (LEI: 549300A0JPRWG1KI7U06) has acquired its own shares (ISIN FI0009000681) as follows: Trading venue (MIC Code)Number of sharesWeighted average price / share, EUR*XHEL319,5513.57CEUX58,3773.57AQEU11,0113.57TQEX4,7613.57Total393,7003.57 * Rounded to two decimals On 3 February 2022, Nokia announced that its Board of Directors is initiating a share buyback program under the authorization granted by Nokia’s Annual General Meeting on 8 April 2021 to return up to EUR 600 million of cash to shareholders in tranches over a period of two years. The second phase of the share buyback program in compliance with the Market Abuse Regulation (EU) 596/2014 (MAR), the Commission Delegated Regulation (EU) 2016/1052 and under the authorization granted by Nokia’s Annual General Meeting on 5 April 2022 started on 2 Januar

EPH European Property Holdings PLC announces Unaudited Interim Results for the Six Months to 30 June 2023 and appointment of Management Committee Members29.9.2023 19:00:00 CEST | Press release

29 September 2023, Limassol, Cyprus / Ad hoc announcement pursuant to Art. 53 LR BUSINESS HIGHLIGHTS FIRST HALF YEAR OF 2023 With an established portfolio of high-quality properties in prime locations in Europe occupied by tenants with strong credit ratings, combined with professional asset management, EPH European Property Holdings PLC (“EPH” or the “Company”) has demon-strated operational stability in the first six months of 2023, despite the ongoing market environment challenges. As a result, EPH not only achieved almost full occupancy throughout its European portfolio, it also increased rental income.The sale of the Company’s Russian portfolio was concluded in April 2023, following the Extraordinary General Meeting (held on 1 November 2022) at which the shareholders of EPH authorised the Board of Directors to sell EPH Group’s entire Russian property portfolio by way of a management buyout. Upon disposal of the Russian segment in the first half of 2023, the Company reclassified the

Oxurion Publishes First Half 2023 Results29.9.2023 19:00:00 CEST | Press release

Regulated Information Leuven, BELGIUM, Boston, MA, US –September 29, 2023 – 7.00PM CET – Oxurion NV (Euronext Brussels: OXUR), a biopharmaceutical company developing next-generation standard of care ophthalmic therapies, with clinical stage assets in vascular retinal disorders, today published its financial and business update for the six-month period ending June 30, 2023. The half-year report is available in the “Investors” section of the Company’s website and can also be downloaded as a PDF. About Oxurion Oxurion (Euronext Brussels: OXUR) is a biopharmaceutical company developing next generation standard of care ophthalmic therapies, which are designed to improve and better preserve vision in patients with retinal disorders including diabetic macular edema (DME), the leading cause of vision loss in working-age people, as well as other conditions. Oxurion intends to play an important role in the treatment of retinal disorders, including the successful development of THR-149, its novel