Nvidia is working with Deutsche Bank to implement a wide range of AI and ML applications in the financial services sector.

The initiatives will develop data-driven services and products, hire tech talent, boost efficiency and cater to global customers. Deutsche Bank serves 58 countries and employs around 80,000 people.

Nvidia’s AI Enterprise software will be used to develop and run AI workflows in any location, including on-site data centers and the bank’s public cloud provider, Google Cloud.

The pair will look to use accelerated computing to speed up risk valuations, price discovery, and model back testing. By delivering accurate results in real time, total costs can be reduced by as much as 80%, an announcement states.

“AI, ML and data will be a game changer in banking, and our partnership with Nvidia is further evidence that we are committed to redefining what is possible for our clients,” said Christian Sewing, CEO, Deutsche Bank.

The partnership will see Nvidia and Deutsche Bank test Finformers (Financial Transformers), a finance-focused language Transformer model. Finformers is a collection of large language models designed to expedite data collection, detect data quality issues and signal early warning signs for counterparty risk.

Traditionally in the financial services industry, large language models have been traditionally challenged by financial texts because of the amount of unstructured data.

The multi-year partnership will also explore a wide range of applications tailored towards personalized banking, including intelligent avatars.

Deutsche Bank will use Nvidia’s Omniverse Enterprise platform to build 3D virtual avatars aimed at helping employees navigate internal systems and respond to HR-related questions. Future use cases will explore immersive experiences with banking clients, the banking giant said.