Atradius wins Fintech Innovation Award with Temenos AI

by James · April 7, 2023

GENEVA, Switzerland – April 5, 2023 – Temenos (SIX: TEMN) today announced that Atradius, a Temenos client and one of the largest providers of trade credit insurance in the world, has won the IBS Intelligence Global Fintech Innovation Award for Best Risk Management Implementation – Best use of tools and best practices. The award recognizes Atradius for its innovative use of AI and machine learning using Temeno’s Explainable AI (XAI) to reduce risk and improve customer experience.

Companies on every continent rely on Atradius to support their international and domestic trading activities. Headquartered in Madrid, Spain, and operating in more than 50 countries, the company offers tailored services that help small, medium and large businesses protect themselves against risk from their debtors.

Atradius won the award for its use of Temenos’ Explainable AI to analyze credit applications – automating manual workloads, accelerating approvals and reducing claims. The solution now plays an integral role in reducing risk while driving growth. With Temenos XAI, Atradius and its customers have benefited from improved customer experiences and strengthened credit products.

Rolf Imig, Manager Automatic Underwriting, Atradius, commented:

“Atradius chose to deploy Temeno’s self-service Explainable AI (XAI) platform due to its high accuracy, as well as being the only one to generate XAI models and be able to explain the decisions made by the AI. The implementation of Temeno’s XAI was a smooth process, and Temenos provided excellent support throughout. The Temenos XAI models have helped Atradius refine and improve the accuracy of its predictive models.”

Hani Hagras, Chief Science Officer, Temenos, said:

“Temenos is the first to bring transparency and explanation of AI-automated decisions to the banking industry. Our patented Explainable AI and machine learning capabilities are built into the Temenos platform and available with all Temenos software either through an easy-to-use interface or via APIs provided on-premises, in the cloud or as a SaaS offering, we’re excited to see Atradius achieve amazing results by creating streamlined, seamless customer journeys and automating manual processes with self-learning capabilities.”

Robin Amlot, managing editor of IBS Intelligence, said:

“IBS Intelligence prides itself on covering 2,000+ technology providers globally. The IBSi Global FinTech Innovation Awards identify and honor technology players and banks for their excellence in driving impact through banking technology implementations and innovations using new technologies. Congratulations to Atradius, Temenos and all the winners of the Fintech Innovation Awards.”