Bengaluru AI Startup OnFinance Enhances BFSI Security with NeoGPT
Bengaluru-based AI startup, OnFinance, is making waves in the banking, financial services, and insurance (BFSI) sectors with its innovative approach. The company recently introduced NeoGPT, a cutting-edge language model tailored to cater to the specific requirements of financial analysts, advisors, and BFSI companies.
The primary objective of OnFinance is to revolutionize the financial services industry by leveraging AI technology to drive transformative changes, enhance security measures, and improve overall efficiency.
OnFinance Onboards National Stock Exchange of India (NSE)
OnFinance has achieved a significant milestone by becoming the first generative AI startup to onboard the National Stock Exchange of India (NSE) as a client. This partnership underscores the trust and confidence in OnFinance's capabilities.
Anuj Srivastava, the Co-founder and CEO of OnFinance, emphasized the company's versatility and expertise in handling complex financial tasks, further solidifying its position in the market.
Ensuring Data Security in BFSI
Data security is a top priority in the BFSI sector, and OnFinance recognizes the importance of safeguarding sensitive information. The company addresses the concerns of enterprises that are wary of using conventional AI models due to data privacy issues.
Srivastava highlighted that financial clients prefer on-premises solutions to ensure that their data remains within their own cloud infrastructure. OnFinance guarantees that customer data is not utilized for training, fine-tuning, or any feedback loop analysis.
Applications of NeoGPT in Financial Services
The applications of NeoGPT are extensive and diverse within the realm of financial services. It is well-suited for financial research, equity research, underwriting, index research, relationship management, compliance, and wealth advisory services.
Utilizing Robust Frameworks for Model Development
OnFinance builds its models on robust open-source frameworks, such as Code Llama of Meta AI and Mistral 7B of Mistral AI, combining the flexibility of open-source solutions. Additionally, the company utilizes Q&A datasets derived from reputable financial news sources like Moneycontrol and the Financial Times for instruction tuning.
This meticulous approach ensures that NeoGPT is well-versed in handling financial data and providing expert insights to its users.
