Societe Generale taps Galytix to upgrade group-wide credit processes

Leading European financial services group Societe Generale has entered into an agreement with AI-powered fintech Galytix to digitalise the Societe Generale Corporate and Investment Banking group’s financial credit analysis processes.

Societe Generale is leading the way amongst its peers in developing a credit data model which will redefine how its credit analysts access and harness unstructured and structured data to make faster and better credit decisions.

Galytix, an AI-based business founded in London in 2015, has built a smart data platform which uses proprietary market leading technology to ingest, transform, curate and spread unstructured and structured data in an end-to-end automated data pipeline covering the entire data lifecycle.

Galytix and PwC Luxembourg & France partnered to develop this project for Societe Generale, with Galytix providing its leading edge technology, and PwC its market insights and consulting support.

Galytix CEO Raj Abrol said: “We are excited to be serving Societe Generale in this important project. The solution we are developing with Societe Generale offers us the opportunity to showcase our end to end data platform capabilities. We thank Societe Generale for their confidence in us.”

PwC partner and alliance leader Matt Moran said: “From our first meeting with Galytix in 2018 we recognised the potential for their smart-data platform to accelerate solving the data engineering challenges faced by clients”.

PwC Luxembourg entered an alliance with Galytix to power Societe Generale with these new technologies.

Galytix was advised on the contract by Tech City lawyers Temple Bright LLP.

This article appeared on the Finextra website on 26 October 2020.