Temenos to offer explainable AI on Oracle Cloud Infrastructure

By Leandra Monteiro

Temenos, the cloud banking platform and member of Oracle PartnerNetwork (OPN), announced that Temenos Explainable AI (XAI) will be offered on Oracle Cloud Infrastructure (OCI).  The collaboration enables Oracle’s global customers, including financial services organizations worldwide, to deploy it’s powerful Explainable AI and machine learning capabilities via Oracle Cloud Marketplace.

Temenos’ patented XAI technology addresses one of the critical issues for organizations using AI applications; namely, they typically operate as ‘opaque boxes’ offering little if any real insight into how they reach their decisions. Temenos XAI brings innovation to provide transparency, helping businesses explain clearly, in plain language, to customers and regulators how AI-based decisions are made.  Temenos is one of the first to bring transparency and explainability of AI automated decision-making to the banking industry.

Temenos XAI is a platform-agnostic, stand-alone product that integrates through an easy-to-use interface or APIs with any third-party product.  Having undergone thorough testing and validation on OCI, Temenos customers can now leverage XAI capabilities with the enhanced resilience, data privacy, security, and SLAs of OCI.  With a wide variety of use cases, Temenos XAI offers a compelling solution to financial and non-financial customers, helping them create smoother customer journeys and automating manual processes to generate novel financial services and applications with explainable AI capabilities.

Hani Hagras, Chief Science Officer at Temenos, said, “Temenos has adopted a partner-first strategy to drive open collaboration and innovation in the industry.  Temenos Explainable AI on Oracle Cloud Infrastructure is a great example, extending the reach of our powerful solution to more banks and businesses on Oracle Cloud.  With increasing reliance on AI and machine learning technology to automate decision-making, there is a real need and opportunity for businesses to adopt true explainable AI models.  We help organizations to deliver unbiased, safe and fair AI applications, helping them identify issues as they arise and build trust with customers and regulators alike.”

Abiy Yeshitla, VP ISV and Cloud Solutions, Oracle, added, “Our partnership with Temenos brings dynamic XAI technology to Oracle Cloud Infrastructure, enabling businesses to store and process vast quantities of data, securely and reliably. With Temenos XAI, our customers now have an additional trusted solution to leverage their data to improve efficiency and automated decision-making in a transparent way.  Our goal is to minimize risk and create value from data, accelerating business innovation and therefore performance.”

Oracle Cloud Marketplace is a one-stop shop for Oracle customers seeking trusted business applications offering unique business solutions, including ones that extend Oracle Cloud Applications.  Oracle Cloud is an enterprise cloud that delivers massive, non-variable performance and next-generation security across a comprehensive portfolio of services, including SaaS, application development, application hosting, and business analytics.  Customers get access to leading compute, storage, data management, security, integration, HPC, artificial intelligence (AI), and Blockchain services to augment and modernize their critical workloads. Oracle Cloud runs Oracle Autonomous Database, the industry’s first and, to date, only self-driving database.