NPCI and HDFC Collaborate on Sovereign AI Retail Banking Model
The National Payments Corporation of India (NPCI) has launched the Finance Model for India (FiMi) Banking, a sovereign compact model designed for Indian retail banking applications. The initiative includes public benchmarks, evaluation sets, and technical documentation to assess AI agent performance in banking contexts. NPCI will collaborate with HDFC Bank on further development, combining NPCI's technology expertise with HDFC’s experience in AI-driven banking solutions. FiMi Banking is based on Google's Gemma open models but has been trained using Indian retail banking scenarios for task execution involving reasoning and action-taking within existing systems. The model includes two benchmarks—IndicBank Bench and Tau Agentic Banking Benchmark—to evaluate AI agents across various metrics like safety, actions, and response appropriateness. The initiative aims to foster innovation in India's financial sector by providing an open evaluation framework for developers, banks, fintechs, and researchers. The data used is synthetic, ensuring no real customer or institutional information is involved.
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Topics: Artificial Intelligence Fintech Collaboration Retail Banking