{"id":45234,"date":"2024-05-07T18:09:46","date_gmt":"2024-05-07T18:09:46","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/07\/pine-labs-owned-setu-teams-up-with-sarvam-ai-to-build-llm-for-financial-services\/"},"modified":"2024-05-07T18:09:46","modified_gmt":"2024-05-07T18:09:46","slug":"pine-labs-owned-setu-teams-up-with-sarvam-ai-to-build-llm-for-financial-services","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/05\/07\/pine-labs-owned-setu-teams-up-with-sarvam-ai-to-build-llm-for-financial-services\/","title":{"rendered":"Pine Labs-owned Setu teams up with Sarvam AI to build LLM for financial services"},"content":{"rendered":"
\"Pine<\/div>


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Digital payments major Pine Labs<\/a> said that it has developed the country\u2019s first large language model (LLM<\/a>) specifically designed for the banking, financial services<\/a>, and insurance (BFSI) sector.Named Sesame<\/a>, the LLM is developed by Pine Labs-owned application programming interface (API<\/a>) infrastructure company Setu<\/a> in collaboration with homegrown generative artificial intelligence<\/a> startup Sarvam AI<\/a>.<\/p>\n
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The company said that the model leverages financial data available both internally and externally to help enterprise customers improve their credit underwriting<\/a> process, detect fraud, monitor loan performance and offer personal finance advisory. <\/p>\n

The model’s design is both domain and region-specific, having been trained on custom data relevant to India’s BFSI sector<\/a>.<\/p>\n

\u201cWe believe that the powerful combination of the account aggregator framework and transformative technologies like Large Language Models (LLMs) is the key to making this a reality,\u201d Nikhil Kumar, cofounder of Setu said in a statement.<\/p>\n

\u201cJust as India has led the way with groundbreaking innovations like Aadhaar and UPI, we are excited to build meaningful, compliant, and responsible AI applications that showcase India’s leadership in Applied AI.\u201d<\/p>\n

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Setu, founded in 2018 by Sahil Kini and Kumar, operates in various areas including account aggregation, data gateway, identity verification, embedded finance, Open Network for Digital Commerce, WhatsApp Business, and Bharat Bill Payment Service. The startup was acquired by Pine Labs for around $70- $75 million in 2022.\u201cGenerative AI represents a significant step change in the nature of computation\u2026 Our collaboration with Setu is an example of bringing this technology to create value in the BFSI space. We showed that we can significantly increase the accuracy of identifying insights from financial statements,\u201d Pratyush Kumar, cofounder of Sarvam AI said.<\/div>\n


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Digital payments major Pine Labs said that it has developed the country\u2019s first large language model (LLM) specifically designed for the banking, financial services, and insurance (BFSI) sector.Named Sesame, the LLM is developed by Pine Labs-owned application programming interface (API) infrastructure company Setu in collaboration with homegrown generative artificial intelligence startup Sarvam AI. Elevate Your […]<\/p>\n","protected":false},"author":2,"featured_media":45235,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/88591548.cms","fifu_image_alt":"","footnotes":""},"categories":[607],"tags":[28584,38192,10856,46253,4073,23028,15468,46254,16497,31766,31762,46255,46211,3282,46210,32698,3933],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/45234"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=45234"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/45234\/revisions"}],"predecessor-version":[{"id":45236,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/45234\/revisions\/45236"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/45235"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=45234"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=45234"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=45234"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}