Setu Launches Sesame | India’s First BFSI-Focused LLM

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Setu Launches Sesame | India’s First BFSI-Focused Large Language Model: Setu, a prominent Indian fintech company and a subsidiary of the Pine Labs Group, has introduced Sesame, India’s inaugural Large Language Model (LLM) tailored explicitly for the banking, financial services, and insurance (BFSI) sector. This collaborative endeavor with indigenous AI research firm Sarvam AI signifies a monumental leap forward in integrating advanced AI technologies into the financial services industry.

A Landmark Moment for BFSI: Unveiling Sesame

The unveiling of Sesame transpired at Adbhut India, an event orchestrated by the non-profit People+ai, in the esteemed presence of industry stalwarts such as Nandan Nilekani, Shankar Maruwada, and Tanuj Bhojwani. Setu and Sarvam AI have heralded this milestone as a watershed “ChatGPT moment” for the BFSI sector, signifying its potential to redefine financial services.

Leveraging India’s Digital Ecosystem: Sesame’s Features

Sesame harnesses India’s robust digital infrastructure to fuel various functionalities, including enhanced credit underwriting, fraud detection, loan monitoring, upselling, cross-selling, and personalized finance advisory. By amalgamating a domain-specific Large Language Model (LLM) with tailored delivery models, Setu and Sarvam AI have crafted a solution finely attuned to India’s BFSI landscape.

Harnessing Financial Data Responsibly: Key Strengths of Sesame

Sesame stands out for its adeptness in harnessing extensive financial data, both internal and external, in a compliant manner. This approach empowers enterprise clients to make informed credit decisions swiftly while providing bespoke financial services throughout the customer lifecycle.

The Visionaries Behind Sesame: Setu and Sarvam AI

Sarvam AI, established in July 2023 by Vivek Raghavan and Pratyush Kumar, pioneers cutting-edge AI innovations with a focus on Generative AI. Their collaboration with Setu epitomizes the convergence of technology and finance, enabling profound insights from financial data.

Setu, founded in 2018 by Sahil Kini and Nikhil Kumar, emerges as a frontrunner in API infrastructure provision, facilitating seamless transactions across bill payments, savings, credit, and payments. Their licensed operation as an account aggregator by the Reserve Bank of India underscores their commitment to revolutionizing financial architecture.

Empowering BFSI Customers: Sesame’s Mission

Setu’s overarching goal is to empower BFSI customers with the tools to make astute, expeditious credit decisions. Sesame represents a transformative leap towards hyper-personalized financial services, poised to redefine customer experiences across the BFSI spectrum.

Conclusion: Sesame Pioneers AI in BFSI

As Sesame makes its debut, it not only signifies a significant technological advancement but also underscores India’s prowess in fostering innovative solutions for the BFSI sector. Setu and Sarvam AI’s Large Language Model (LLM) collaborative effort underscores a shared commitment to revolutionizing financial services through responsible AI applications.

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