CONNECT WITH US
Fintech

Fintech

Santander Turns to Nvidia to Build New AI Banking Capabilities

PYMNTS – Fintech logo

Published on

Add as a preferred source on Google
Santander Turns to Nvidia to Build New AI Banking Capabilities

Santander has teamed with Nvidia to come up with capabilities for evaluating artificial intelligence models and agents for banking.

Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

This work by the Santander AI lab is designed to help determine which AI model is best suited for a task and deploy it in the most efficient fashion, the bank announced Monday (Oct. 19).

“As part of this effort, Santander has been progressively moving from large general-purpose models towards smaller, specialised models designed for specific banking tasks,” Santander said in a news release provided to PYMNTS.

In selected experiments, this approach has cut serving costs from €5 per interaction to approximately €0.03 while upholding strong performance, the release added.

With the AI lab, Santander has constructed its “Model Arena” to evaluate open-weight models against banking tasks and determine which model is right for each workload. It is also specializing in models using the Nvidia NeMo Customizer.

Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

The companies say their partnership is already bearing fruit. In one experimental customer-service use case, Santander improved conversation quality while lowering costs by more than 50% by deploying a more efficient AI model.

Now, Santander and Nvidia say they will continue to work together on areas like foundation models, AI agents, fraud and anti-money laundering capabilities, real-time decisioning and advanced simulation technologies, such as banking digital twins.


Source link
Related Topics:Fintech

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We TheMorningPulse.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It's possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.