European Financial Services Leverage Open Models for Proprietary Intelligence Development
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At GTC Berlin, various financial organizations showcased their advancements in production-scale intelligence, utilizing NVIDIA's accelerated computing and open weight models. Revolut is central to this movement, rebuilding its technology stack with the PRAGMA model, which is designed to scale for 80 million customers and aims for a threefold increase in capacity. Pavel Nesterov, head of AI at Revolut, emphasized the significance of PRAGMA in bridging the gap between research breakthroughs and practical banking applications.
The adoption of open weight models allows European financial institutions to create proprietary intelligence from their own data while maintaining cost control. Starling Bank has developed 'Starling Intelligence' on U.K. cloud infrastructure, while Lloyds Banking Group's ATUM model enhances efficiency across banking operations. Additionally, neobank bunq's assistant Finn demonstrates the cost-effectiveness of open models, achieving high-quality results at a reduced expense compared to closed models.
Looking ahead, financial institutions like NatWest and Santander are investing in advanced technologies to enhance their services, including speech recognition and specialized intelligence for banking workloads. No further timeline was disclosed at the time of publication.
Original report
Leading European Financial Services Organizations Embrace Open Models to Build Proprietary Intelligence
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