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The Bank of London launches GenAI assistant

Monday 29 April 2024 14:56 CET | News

The Bank of London has announced the launch of its GenAI assistant to address general and technical difficulties in real-time and aid enterprise API integration.

Following this announcement, the Bank of London will focus on providing customers and developers with the possibility to leverage the AI code assistant in order to develop and design services, applications, and products on its Application Programming Interface (API).

Throughout this launch, the financial institution will focus on meeting the needs, preferences, and demands of clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry. 

 

.The Bank of London has announced the launch of its GenAI assistant to address general and technical difficulties in real-time and aid enterprise API integration.

More information on the product launch

The Bank of London represents a principal clearing financial institution of the United Kingdom that leverages its suite of solutions, expertise, and technologies in order to prioritise the preservation of its depositors’ market stability and development. 

A banking Application Programming Interface (API) represents a piece of software designed to allow users and clients to access financial services within non-fintech applications. In addition, they also enable businesses that are not financial institutions to deliver and offer their customers access to financial services within their platforms. 

The GenAI code assistant was designed in order to leverage the bank’s AI model to accelerate development and growth, while also maintaining the principles of trust and security of a fully regulated bank. In addition, the Developer Studio is set to provide businesses access to the necessary tools to launch comprehensive and flexible API offerings for embedded banking in the region of the UK.

Customers and partners will be enabled to access the API sandbox without the need to sign non-disclosure agreements or go through any paywalls. At the same time, they will have the capability to leverage the tool in order to handle questions involving several programming languages, as well as address general and technical queries in real time. 



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Keywords: product launch, banking, online banking, mobile banking, digital banking, financial services, financial institutions, artificial intelligence, generative AI
Categories: Banking & Fintech
Companies: The Bank of London
Countries: United Kingdom
This article is part of category

Banking & Fintech

The Bank of London

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