According to NVIDIA's blog post, 91% of financial services industry companies are either evaluating or already implementing artificial intelligence solutions. At this week's Money20/20 conference, NVIDIA Inception program members Ntropy, Contextual AI, NayaOne, and Securiti are showcasing how their technologies are transforming financial services through NVIDIA NIM microservices and accelerated computing.
Ntropy, based in New York, has developed a transaction enrichment API that transforms unstructured financial data into usable insights. In NVIDIA's announcement, Naré Vardanyan, cofounder and CEO of Ntropy, is quoted as saying, "Whenever money is moved from point A to point B, text is left in bank statements, PDF receipts and other forms of transaction history." According to the company's blog post, using NVIDIA's H100 Tensor Core GPUs and Llama 3 NIM microservice, Ntropy reports achieving up to 20x better utilization and throughput for its large language models compared with running the native models.
Mountain View-based Contextual AI is advancing retrieval-augmented generation (RAG) for financial institutions, NVIDIA reports. The company's platform has caught the attention of HSBC, which plans to implement it for research insights and process guidance. According to the blog post, Douwe Kiela, CEO and cofounder of Contextual AI, states, "RAG is the answer to delivering enterprise AI into production."
NVIDIA reports that London's NayaOne has introduced an AI sandbox allowing financial institutions to test applications before deployment. According to NVIDIA, the platform achieves up to 10 times faster processing for fraud detection models while reducing infrastructure costs by 40% compared to CPU-based systems.
According to NVIDIA, Securiti, from Silicon Valley, is developing an AI-powered financial planning assistant using NVIDIA NIM technology. The blog post quotes Jack Berkowitz, chief data officer at Securiti, saying, "Banks struggle to provide personalised financial advice at scale while maintaining data security, privacy and compliance with regulations."
The blog post details how Ntropy's API focuses on standardising and cleaning transaction data to improve fraud detection, while also powering automated loan agents that can analyse bank websites and generate investment reports to accelerate loan decisions. Contextual AI contributes to the research space, developing tools that synthesise market outlooks and financial news. NayaOne's sandbox environment enables secure testing of new financial applications before deployment, and Securiti rounds out the innovation spectrum with its AI copilot that provides personalised financial planning assistance while maintaining strict data security protocols.