French software firm SBS has launched what it claims the world's first sovereign AI platform to be developed for the banking market.
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The SBS AI Foundation, a platform powered by NVIDIA, has been developed specifically for core banking and to enable banks to deploy generative AI without their data leaving their environment, whether that be cloud-based or on-premise.
The platform is currently being used by the Scottish Building Society, a long-time SBS client.
According to SBS, banks are under pressure to use AI to speed up decisions, reduce cost and compete with digital natives. However, they are often hamstrung in this competition due to strict regulations, including both GDPR and data privacy, that prevent them from putting sensitive data through a third-party AI platform.
A recently published Gartner report stated that 84% of finance organisations have implemented or are planning to implement AI but only 7% report a highb or very high impact from the technology.
This gap between AI ambitions and results is down to the absence, until now states SBS,. of infrastructure to run generative and agentic AI at scale within a bank's own walls.
“Banks want AI they can trust, explain and run wherever their data must live. By building with NVIDIA, we can give our customers that assurance without compromising on governance,” said Eric Bierry, CEO of SBS.
“We are already seeing the results from this work with our early customers, and we look forward to continuing to roll out these capabilities as we help more financial institutions take advantage of AI efficiencies.”