The Pine Labs-owned fintech company Setu on Tuesday unveiled India’s first large language model application ‘Sesame’, which is specifically designed for the BFSI sector.
Developed in collaboration with indigenous artificial intelligence research firm Sarvam AI, the application leverages the rich data ecosystem, enabled by India’s digital infrastructure to power features such as improved credit underwriting, fraud detection, loan monitoring, upsell/cross-sell and personal finance advisory, the company said in a press release on Tuesday.
The system combines domain-specific LLM with delivery models that allow enterprise customers to harness the vast amounts of financial data available both internally and externally in a compliant manner.
An LLM is a type of AI program that are trained on huge data sets and can recognise and generate texts. These are built on machine learning.
The powerful combination of the account aggregator framework and transformative technologies like LLMs is the key to democratise financial services, said Nikhil Kumar, co-founder of Setu.
The launch of Sesame in Bengaluru was attended by Infosys Ltd. co-founder Nandan Nilekani.