HSBC and Mistral AI partner up | Media release

HSBC and Mistral AI have announced a strategic partnership to power and accelerate the use of generative AI across the bank to improve business processes, save employees time and help better serve millions of customers around the world.

This multi-year partnership provides access to Mistral AI’s commercial models, including future developments.

Under the agreement, HSBC and Mistral’s applied AI, science and engineering teams will work together to develop generative AI solutions across the organization.

HSBC will combine its strong in-house technology capabilities with Mistral AI’s deep expertise in fundamental model development. This will enable HSBC to enhance its current AI efforts through self-hosted AI models running on HSBC’s internal technology systems.

HSBC continually evaluates a wide range of large-scale language models (LLMs) as part of its technology strategy. The bank saw a valuable opportunity to leverage Mistral’s AI expertise to enhance its internal tools. This includes the AI-powered platform used by HSBC employees around the world to assist with productivity tasks. This includes:

• Create business tasks that support various needs across the bank. For example, enabling customer-facing teams to quickly deliver customized communications, enabling marketing teams to launch highly personalized campaigns, and enabling procurement teams to identify risks and savings opportunities.
• Enhance financial analysis of complex and document-heavy customer loans or lending processes
• Multilingual Reasoning and Translation Services: Help translate and validate information in multiple languages ​​to inform customer interactions.
• Accelerate development innovation cycles: Enable your teams to prototype, validate, and launch new processes and features faster.

The partnership with Mistral builds on HSBC’s investment in cutting-edge AI technology focused on increasing business efficiency and improving customer service.

HSBC’s future focus areas include customer-facing innovations such as improved credit and lending processes, enhanced customer onboarding, and anti-fraud and anti-money laundering checks.

Mr. Georges Erhedery, HSBC Group CEO, Said:

“Partnering with Mistral is an exciting step forward in HSBC’s technology strategy and will enable us to further strengthen our AI capabilities across the bank. This partnership will give our colleagues tools to help them innovate, simplify their daily work and give them more time to deliver for customers.”

Both organizations are committed to the responsible use of AI and will work together to ensure that all deployments adhere to the highest standards of AI transparency, data privacy, and technology development.

Arthur Mensch, Co-Founder and CEO, Mistral AI; Said:

“We are proud to be in a long-term partnership with HSBC. Our highly customizable, enterprise-grade, frontier AI solution will reinvent HSBC’s workflows and services while ensuring full ownership of data. Together, we will deliver high-end AI-powered productivity tools to HSBC’s employees and a new generation of banking services to millions of customers around the world.”