How leading fintech startups use AI to deliver safer, faster and more accurate services

AI revolutionizing financial services: Generative AI, powered by NVIDIA technologies, is transforming the financial services industry by improving operational efficiency, enhancing customer experiences, and driving innovation.

• 91% of financial services companies are either assessing or already implementing AI in their operations.
• Key areas of improvement include portfolio optimization, fraud detection, customer service, and risk management.
• NVIDIA NIM microservices and accelerated computing are at the forefront of this technological transformation.

Startups leading the charge: Several NVIDIA Inception program members and other innovative startups are leveraging NVIDIA technologies to develop cutting-edge financial services applications.

• Ntropy: Standardizes financial data from various sources using its transaction enrichment API, built on NVIDIA NIM microservices and Triton Inference Server.
• Contextual AI: Offers a production-grade AI platform for enterprise AI applications in knowledge-intensive financial use cases.
• NayaOne: Provides a digital sandbox for financial institutions to test and validate AI applications securely before deployment.
• Securiti: Develops an AI-powered copilot for financial services using NVIDIA NIM.

Ntropy’s data standardization breakthrough: The New York-based startup is tackling the challenge of unstructured financial data in transaction histories.

• Ntropy’s API acts as a common language to understand any transaction with human-like accuracy in milliseconds.
• The company achieved up to 20x better utilization and throughput for its large language models using the Llama 3 NIM microservice.
• Applications include improving fraud detection accuracy and speeding up loan dispersal processes.

Contextual AI’s RAG platform: The Mountain View-based company offers a production-grade AI platform powered by retrieval-augmented generation (RAG) for financial services enterprises.

• The platform integrates the entire RAG pipeline into a single optimized system deployable in minutes.
• HSBC plans to use Contextual AI for research insights and process guidance support.
• The technology enables accurate, auditable AI for financial analysis, policy-compliance report generation, and financial advice query resolution.

NayaOne’s innovation sandbox: This London-based company provides a secure environment for financial institutions to test and validate AI applications.

• The AI sandbox allows for benchmarking applications for fairness, transparency, and accuracy.
• NayaOne achieves up to 10x faster processing for large datasets used in fraud detection models.
• The company’s digital sandbox uses NVIDIA RAPIDS to accelerate fraud detection and prevention capabilities.

Securiti’s AI-powered financial planning: The Silicon Valley-based startup is developing an NVIDIA NIM-powered financial planning assistant.

• The copilot chatbot accesses diverse financial data while adhering to privacy and entitlement policies.
• It retrieves data from various sources, including earnings transcripts, client profiles, and investment research documents.
• Securiti’s solution ensures safe data ingestion and preparation for use with high-performance, NVIDIA-powered LLMs.

Implications for the financial sector: The integration of AI technologies in financial services is poised to significantly impact the industry’s landscape.

• These innovations promise to enhance decision-making processes, improve risk management, and provide more personalized customer experiences.
• However, the rapid adoption of AI also raises important questions about data privacy, security, and regulatory compliance that financial institutions will need to address.
• As AI continues to evolve, it will likely reshape job roles within the financial sector, potentially creating new opportunities while also challenging traditional skill sets.