Deutsche Bank has announced a collaboration with Singaporean AI start-up finaXai to explore advancements in tokenised funds servicing. This partnership will extend Deutsche Bank’s Project DAMA 2, a multi-chain asset servicing pilot, by integrating Machine Learning and Large Language Models (LLMs) to improve the efficiency and transparency of asset management processes.
The collaboration seeks to leverage explainable AI, enabling asset managers to execute fund lifecycle activities with increased speed and precision. FinaXai, co-founded by researchers from Nanyang Technological University (NTU) and the National University of Singapore (NUS), is part of the Fincubator programme at the Asian Institute of Digital Finance (AIDF).
Anand Rengarajan, Deutsche Bank’s Head of Securities Services APAC & MEA, expressed enthusiasm for the project, stating, “We are delighted to work with a diverse mix of experts from the academic and innovation worlds to contribute to the future of tokenised assets.” He emphasised the collaboration’s potential to unify research-backed solutions with industry applications.
Dr. Erik Cambria, Co-Founder of finaXai, highlighted the initiative’s role in bridging academic research with real-world applications, aiming to streamline processes and enhance digital asset management. Dr. Gianmarco Mengaldo, another Co-Founder, noted the collaboration’s potential to address complex financial tasks through AI-driven solutions.
This partnership underscores the growing intersection of AI and finance, promising to transform the landscape of asset servicing. As the project progresses, it may set new standards for efficiency and transparency in the management of tokenised funds.
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