Finastra collaborates with Databricks

By leveraging Databricks, Finastra introduced Secure Zone, a data platform for its developers, with it being designed for production-grade data ingestion and engineering, as well as the discovery of large batch and real-time data. The platform can be used for experimentation and development of prototype AI solutions and production models, in traditional and generative AI, with full monitoring features. Additionally, it can employ language models for tasks such as content generation, summarisation, semantic search, and code translation. Finastra’s users can access the platform to build data products and data science models leveraging tools, datasets, and pre-trained models. Customers can also benefit from Finastra’s technological knowledge and insight.

According to Finastra’s officials, considering that data and AI support innovation, the company is committed to providing improved solutions to its customers. By working with Databricks, the company can develop enhanced data-driven products more efficiently across all business units. Finastra’s customers can access its datasets via Databricks’ Delta Sharing feature to develop their products. Furthermore, the move underlines Finastra’s commitment to innovation in product development via open platforms, cloud, machine learning (ML), advanced analytics, and generative AI. As per the information detailed in Finastra’s recent Financial Services State of the Nation survey 2023, 83% of decision-makers stated that their institution is interested in generative AI, with 26% of them already having integrated the technology. Following this movement, the company allows its customers to benefit from real-world applications of the technology within its solutions.

To support its commitment to enhancing its workforce and improving productivity with generative AI, Finastra introduced Bing Enterprise Chat for all its employees, while also being part of the Microsoft 365 Copilot Early Access Program.

Representatives from Databricks stated that the merge of reporting, analytics, and AI with its platform enables Finastra to simplify the development process of its solutions, solidify its product offering, and provide improved experiences for its customers. The company plans to continue its work with Finastra and develop new use cases, while also delivering more value to benefit end users.

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