HSBC and Mistral Artificial Intelligence have announced a multi-year strategic partnership to enhance and accelerate the use of generative Artificial Intelligence across the bank. The agreement gives HSBC access to Mistral Artificial Intelligence’s commercial models, including future developments, and establishes collaboration between HSBC and Mistral’s applied Artificial Intelligence, science and engineering teams. HSBC will combine its internal technology capabilities with Mistral Artificial Intelligence’s foundational model expertise and run self-hosted Artificial Intelligence models on HSBC’s internal systems.
The bank says it is continually assessing a wide range of large language models (LLMs) as part of its technology strategy and saw an opportunity to use Mistral Artificial Intelligence’s expertise to enhance internal tools. HSBC plans to apply generative Artificial Intelligence to productivity platforms used by colleagues globally and across specific business tasks. Use cases set out in the announcement include enabling client-facing teams to deliver tailored communications at speed, allowing marketing teams to launch hyper-personalised campaigns, helping procurement teams identify risks and savings opportunities, improving financial analysis for complex and document-heavy client lending or financing processes, providing multilingual reasoning and translation services to support customer interactions, and speeding development cycles so teams can prototype, validate and launch new processes or features more rapidly.
HSBC said the partnership builds on its existing investments in the latest Artificial Intelligence technologies and that future focus areas will include customer-facing innovations such as improvements to credit and lending processes, customer onboarding, and fraud and anti-money laundering checks. HSBC’s group chief executive described the deal as a step forward in the bank’s technology strategy that will equip colleagues with tools to innovate and simplify daily tasks. Mistral Artificial Intelligence’s chief executive said the company will provide customisable, enterprise-grade frontier Artificial Intelligence solutions that reinvent workflows while ensuring data ownership. Both organisations committed to responsible use, transparency, and data privacy in all deployments.
