Revolut Launches In-House AI Research Unit for Financial Services
The fintech's new division, Revolut Research, will centre its proprietary AI work around PRAGMA, a finance model built with Nvidia.
AfroEuropa Newsroom
AfroEuropa desk
Revolut has set up a dedicated research unit focused on artificial intelligence for financial services, saying it wants to build as much of its AI stack internally as possible rather than depend on outside providers, according to Tech.eu and Sifted.
The division, called Revolut Research, will act as the hub for the company's proprietary AI and machine learning work and is set to collaborate with academic and technology institutions working on AI, Tech.eu reported.
According to Revolut, it has developed its own model for finance rather than using off-the-shelf tools and separate systems for different tasks such as fraud and customer service, an approach it attributes to other financial firms. The model, named PRAGMA and built in partnership with Nvidia, is designed to learn patterns across the full customer journey and support fraud detection, credit decisions, product recommendations and customer service from a single foundation.
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