Infosys unveils new data, GenAI suite to empower digital operations amongst banks

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Azunta Gaviola

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6 days ago

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Bengaluru, India – Infosys Finacle, a banking software developed by Infosys, has recently launched the company’s new data and AI suite, with solutions aimed at empowering banks in their digital operations and enterprise AI journey. 

According to the firm, the suite will provide a comprehensive set of platforms for building low-code, predictive, and generative AI solutions from the ground up, emphasising transparency and explainability. 

Said tools will help banks scale their data readiness, industrialise AI model development, apply generative AI technologies, and deliver actionable insights across their entire ecosystem.

As part of the Infosys Topaz, the new Finacle Data and AI Suite will consist of three components, namely (1) the Finacle data platform; (2) the Finacle AI platform; and (3) the Finacle generative AI offerings. 

The Finacle data platform includes an automated data pipeline to clean, transform, and deliver data for AI and other organisational requirements. This is complemented by a modular data lakehouse with BIAN (Banking Industry Architecture Network)-inspired data models and domain-specific data marts, allowing for rapid, interoperable access.

Its Finacle AI platform, on the other hand, enables banks to build, train, deploy, monitor, and optimise AI solutions from a unified interface. This encompasses a wide range of pre-trained models and ML techniques, combined with a no-code, generative AI-driven approach, allowing both technical and business users to rapidly create explainable AI solutions. 

Moreover, the platform’s extensive library of pre-built use cases facilitates seamless AI integration into various business processes and user journeys. Features like model comparators, what-if simulations, and pattern analysis assist in refinement and elevate modelling sophistication. 

This promotes responsible AI practices with capabilities for detecting biases and drifts and includes a patent-pending synthetic data generation feature to safeguard data privacy during training.

Lastly, the Finacle Generative AI Offerings offer a diverse range of AI assistants designed for both enterprise and customer-centric applications. This involves the Finacle Knowledge AI Assistant that facilitates NLP-based information extraction from document repositories and the Finacle Support AI Assistant, which enhances ticket resolution for support teams. 

Sajit Vijayakumar, chief business officer and global head at Infosys Finacle, said, “AI is transforming banking by redefining the future of customer experience, risk management, and decision-making. By leveraging data at scale, AI empowers banks to anticipate needs, personalise solutions, and drive growth with unprecedented agility.”

“We are excited to introduce the Finacle Data and AI Suite as a definitive solution for banks seeking to harness the power of AI. The Finacle Data Platform lays out a robust data foundation, and the Finacle AI Platform abstracts the complexities of AI development, putting power in the hands of banks’ business teams to unlock the true potential of AI,” added Vijayakumar.

Marianne Roling, vice president, systems integrators at Microsoft, also commented, “Finacle’s cutting-edge AI Suite for the banking industry harnesses the power of Microsoft Azure and Azure OpenAI Service to enable banks to scale AI initiatives and drive innovation across critical areas such as customer interactions, operations, and strategic decision-making.” 

“By leveraging AI, Infosys Finacle is laying the groundwork for a smarter, more agile, and more resilient banking ecosystem,” she further explained.

Meanwhile, Jerry Silva, program vice president at IDC Financial Insights, remarked, “AI-fuelled business is the next revolution in the financial services industry. But success will be predicated on how quickly banks can integrate AI into their operations while maintaining governance and compliance.”

“While generative AI has raised the urgency for adoption, long-term differentiation will come from a strong commitment to robust data readiness and responsible AI practice. Platforms like Finacle Data and AI Suite can support the banks’ goals of faster adoption of AI as a tool to respond quickly and effectively in a fast-evolving landscape,” Silva concluded.

 

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Video Title Here: The Indonesian on-ground activation status

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Video Title Here: The Indonesian on-ground activation status

Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos.