Leading European Financial Services Organizations Embrace Open Models to Build Proprietary Intelligence

European financial firms showcase open model and accelerated computing applications

Revolut says its PRAGMA foundation model is serving an initial 80 million customers in production. Starling Bank has developed an intelligence layer using its transaction data, Lloyds Banking Group has built a transaction foundation model, and SBS has launched a platform for running models within banks' own environments. bunq says its open-weight assistant costs 60% as much per answer as the closed models it compares against, while NatWest, Modulr and Santander are developing speech or finance-specific models. LSEG reports up to 10 times faster transaction-data analysis, and RavenPack has built a research dataset pipeline. HSBC reports five times faster data processing; in an offline test, Stripe reports a 42-fold faster data pipeline at 92% lower cost.