UK FinTech Bud Financial has launched a generative Al core platform to deliver hyper-personalised banking experiences.

The platform will empower any financial services organisation to transform their transaction data into powerful new customer insight and achieve the holy grail of personalisation at scale in customer experience.

For half a decade, Bud has been a trailblazer in its development and application of Al, machine learning, and Natural Language Processing in banking and financial services.

Bud has been developing foundational language models on top of banks first-party transaction data and consumer-permissioned, third-party open banking data since 2018. empowers developers, marketers and risk professionals to integrate deep financial insight into their workflows, generating more opportunities to match consumers with the right financial products.

Bud, which was founded in 2015 and was included in BusinessCloud’s 100 FinTech Disrupters ranking for 2020, uses Google’s PaLM2 large language model – one of the first applications of PaLM2 in financial services.

HSBC and FinTech Bud sign deal to back open banking

The new core will power both Bud’s existing products  as well as a new product being launched next week.

The new product, Jas, is a generative AI chat interface, which feeds on enrichment and analysis-driven data intelligence, to provide insights directly to consumers in an intuitive way.

As Jas evolves, it will transform into an action-bot, capable of providing tailored recommendations and executing tasks on behalf of customers and clients.

Ed Maslaveckas, founder and CEO of Bud, said: “Since 2018, Bud has been diligently developing foundational language models that leverage bank data.

“These years of tireless product and technical work have brought us to this point, where we can deliver reliable, secure and personalised generative Al capabilities to our financial services customers, without compromising on data ethics.

“We can unlock an endless array of insights for our clients, who can supercharge marketing efforts, refine customer segmentation, and optimize various aspects of their business operations.

“This is a true breakthrough, as we unveil a logic core capable of delivering real-time, limitless insights for both individual customers and corporate users.”

Toby Brown, managing director of global banking solutions at Google Cloud, said: “As a part of their digital transformation strategies, many companies are seeking reliable solutions that help them better engage customers along their financial journey.

“By tapping into Google Cloud’s generative AI capabilities, Bud is optimising internal workflows and external user experiences in a safe and efficient way.”

Pockit app for financially ‘underserved’ raises £8m

Founded in London in 2015, Bud has over 100 employees and offices in the UK and the US.

With over 50 billion transactions processed, Bud’s Al platform drives highly personalised experiences for lending and money management.