Societe Generale selects FinTech Galytix to boost Group-wide credit processes

By Megha Bhattacharya

European financial services group, Societe Generale has entered into an agreement with AI-powered FinTech Galytix for digitalising its Corporate and Investment Banking group’s financial credit analysis processes. Galytix and PwC Luxembourg & France have partnered to develop this project for the Group, with Galytix providing its technology, and PwC its market insights and consulting support.

Galytix CEO Raj Abrol said, “We are excited to be serving Societe Generale in this important project. The solution we are developing with Societe Generale offers us the opportunity to showcase our end to end data platform capabilities. We thank Societe Generale for their confidence in us.”

Founded in London in 2015, AI-based FinTech Galytix has developed a smart data platform which uses proprietary technology to ingest, transform, curate and spread unstructured and structured data in an end-to-end automated data pipeline covering the entire data lifecycle.

PwC partner & alliance leader Matt Moran said, “From our first meeting with Galytix in 2018 we recognised the potential for their smart-data platform to accelerate solving the data engineering challenges faced by clients”. PwC Luxembourg entered an alliance with Galytix to power Societe Generale with these new technologies.”

Recently, market data analytics provider, big xyt announced that Societe Generale Luxembourg has implemented its Execution Analytics solution in a bid to offer enhanced trading performance analytics to the Bank’s customers. According to big xyt, the solution offers the Group with capabilities in smart data analytics for reducing transaction costs. SocGen Luxembourg will leverage big xyt’s granular consolidated view of the marketplace for measuring and benchmarking their executions