The partnership, which follows months of exploratory work on various potential use cases, will combine the German lender’s expertise in the financial industry with NVIDIA’s AI capabilities to help develop regulatory-compliant AI-powered services
Nvidia headquarters in Santa Clara, California. (Credit: Coolcaesar/Wikipedia)
Deutsche Bank has entered into a multi-year partnership with NVIDIA to advance the use of artificial intelligence (AI) and machine learning (ML) in the financial services sector.
The partnership will combine the German lender’s expertise in the financial industry with NVIDIA’s AI capabilities to support the development of regulatory-compliant AI-powered services.
Also, the partnership will support the cloud transformation journey, by using AI and ML to simplify and accelerate cloud migration decisions, said Deutsche Bank.
The partnership follows months of exploratory work, which included testing various potential use cases that support the bank’s strategic goals for 2025 and beyond.
The testing focused on the development of a risk model, high-performance computing, and the creation of a branded virtual avatar.
Deutsche Bank CEO Christian Sewing said: “AI, ML and data will be a game changer in banking, and our partnership with NVIDIA is further evidence that we are committed to redefining what is possible for our clients.
Deutsche Bank management board member Bernd Leukert said: “This partnership is a significant step forward in our AI and ML ambitions. It will help us take a leading position in the usage of these technologies in financial services.”
NVIDIA’s AI, ML, and accelerated computing knowledge, will help Deutsche Bank strengthen its leadership in risk management, and enhance its customer service.
The lender will use ‘NVIDIA AI Enterprise’ software suite to streamline the AI development and deployment that can run in the cloud or the data centre.
NVIDIA will also offer its Omniverse Enterprise, an open computing platform for metaverse applications, AI models, and services to improve the bank’s user experience.
Deutsche Bank has already developed an early concept of a 3D virtual avatar using NVIDIA Omniverse, to help its employees navigate internal systems and respond to HR questions.
Furthermore, the German lender and NVIDIA are testing a set of large language models, dubbed Financial Transformers, which will run AI and ML models.
Financial Transformers are expected to deliver early warning signs on the counterparty of a financial transaction, faster data retrieval and identify data-quality issues.
NVIDIA founder and CEO Jensen Huang said: “Accelerated computing and AI are at a tipping point, and we’re bringing them to the world’s enterprises through the cloud.
“Every aspect of future business will be supercharged with insight and intelligence running at the speed of light. Together with Deutsche Bank, we are modernising and reimagining the way financial services are operated and delivered.”