Generative AI Services for Banking Reviews and Ratings

What are Generative AI Services for Banking

Gartner defines generative AI (GenAI) services for the banking industry as external services that help banks design, build, deploy and maintain GenAI capabilities. These services deliver safety, reliability, cost and time-to-market benefits as well as regulatory compliance. Services include banking-specific GenAI strategy, solution and organizational design, data engineering, language and other model operations, as well as AI governance. Providers may offer value-added services around commercial off-the-shelf third-party AI solutions or with their own banking-specific assets, delivered as on-premises or cloud-based services. The market definition excludes generic GenAI enablers, such as data and API platforms and foundational models.

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Accenture is a professional services corporation that has global capabilities in cloud, digital, and security domains. With proficiency and dexterity spanning across more than 40 sectors, Accenture provides a range of services such as Strategy and Consulting, Technology and Operations Services. It also features something named Accenture Song, powered by an extensive network of Advanced Technology and Intelligent Operations centers. It caters to clients in more than 120 countries, harnessing the capability of transforming changes into values to foster shared success.

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Deloitte is a multinational entity that incorporates several independent firms on a global scale, each one serving their clients' growth and success areas. The main aim is to provide sound and professional guidance resulting in their clients emerging as the frontrunners of their respective domains. The parent entity, Deloitte Touche Tohmatsu Limited, is the overseer of this vast network of member firms spread worldwide, though each firm retains its legal autonomy. The diversity of the talent housed in Deloitte is channelized to deliver optimal solutions tailored to their clients' specific needs. The onus is put on businesses and individuals to seek professional advice before making decisions affecting their financials. Deloitte's offerings are general and do not serve as professional advice targeted for unique cases. Their ultimate goal is to utilize the wealth of knowledge at disposal for the betterment of their clients and the collective society, resulting in a robust organization.

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Hewlett Packard Enterprise, known as a global edge-to-cloud company, concentrates on a range of technology and innovation services to connect, protect, analyze, and act on all data and applications wherever they live, from edge to cloud, focusing on addressing business challenges through technology.

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IBM is a well-established entity focused on technology and development. The primary mission revolves around fostering technological growth and enhancing infrastructure, achieved through focused developments and consulting services. By encouraging inventiveness and innovation, it is geared towards facilitating the transition of theoretical ideas into practical realities, thus improving global functionalities. IBM brings about transformation by creating advanced solutions that reshape and redefine the world.

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TCS, part of the Tata group, focuses on shaping the future through innovation, technology and the utilization of collective knowledge. It is a multinational organization based in India, with consultants placed in various countries around the world, with notable skills and expertise. They work diligently to provide technology solutions that resolve critical business challenges. TCS is also noted for proactive stances on critical global issues, resulting in recognition in various sustainability indices. It operates within business principles aligned towards achieving sustainable growth.

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Features of Generative AI Services for Banking

Mandatory Features:

  • GenAI COE services

  • Banking-specific model management and operations (Model Ops, monitoring and maintenance)

  • Banking-specific accelerators and IP

  • GenAI solution design and delivery

  • AI risk, governance, security and compliance services with specific banking capability

  • AI engineering and application implementation

  • Banking-specific GenAI assets such as banking data or maturity models

  • Banking-specific GenAI strategy advisory and consulting (business and technology consulting)