Corridor Platforms collaborates with Google Cloud in order to solve GenAI governance for banks.
The partnership enables banks to deploy GenAI apps, leveraging Corridor’s GenGuardX platform for governance, compliance, and risk management
Corridor Platforms, the enabler of AI governance solutions, announces a partnership with Google Cloud to help FIs “unlock the full potential of customer-facing GenAI applications while adhering to rigorous regulatory and compliance standards.”
FIs have made substantial investments in Gen AI capabilities, yet face significant “challenges in deploying high ROI customer-facing applications such as agent assist and Conversational IVR solutions.”
As banks’ Model Risk Management and Compliance teams grapple with novel Gen AI risks without regulatory precedents, Corridor’s GenGuardX platform emerges as a “solution designed by industry experts to bridge the gap between innovation and risk management.”
GGX delivers a Responsible AI Governance Platform that “streamlines collaboration, ensures auditability, and helps set and maintain robust governance standards.”
GGX reportedly addresses traditional risks as well as “emerging risks such as hallucinations, PII leakage, new fair lending biases, jailbreaking vulnerabilities, and more.”
By combining various evaluation metrics with continuous “human-in-the-loop oversight,” GGX empowers FIs “to move from experimentation to production with confidence.”
Its post-production monitoring ensures that “deployed solutions remain compliant and trustworthy while delivering high ROI at scale.”
The GGX platform has been developed in collaboration with GenAI governance professionals at Oliver Wyman and “tested through a joint initiative involving Google Cloud and a Tier 1 G-SIB banking client.”
This ensures its readiness to meet the “demands of regulated financial institutions navigating the adoption and governance challenges of Gen AI technologies.”
For Google Cloud users, Corridor’s GGX platform will be available “as a fully integrated, easy-to-deploy governance solution allowing banks to leverage Google Cloud’s models and development tools while ensuring security, reliability, and compliance with industry and regulatory standards.”
Toby Brown, Managing Director of Global Retail Banking Solutions at Google Cloud, said:
“Our priority is helping banks realize tangible ROI from generative AI, but governing and monitoring the risks throughout model lifecycles can be a challenge. Corridor’s GGX platform can help our banking customers navigate this, accelerating their time to deployment and unlocking Gen AI’s full potential.”
Manish Gupta, CEO of Corridor Platforms, highlighted the importance of this collaboration:
“Banks are on the brink of transformational gains from Gen AI, but they need equally transformational risk management capabilities to experiment confidently while governing, validating, and managing these applications in a fast-evolving risk and regulatory environment.”
As noted in the update, Corridor Platforms is a provider of decision workflow governance and automation software for AI and GenAI.
The company’s decisioning platform was created by a team of banking professionals with experience leveraging the “analytics. big data and AI capabilities for decisioning in regulated industries.”
Corridor Platforms Inc. is majority “owned by its founders, with additional investment from EXL Services and Oliver Wyman.”