The Portuguese Bank of Fomento (BPF) launched Fomento.AI, an internal AI platform to improve efficiency, accuracy, security, and compliance. Tiago Mateus, the Director of Technology and Operations, said that the tool allows employees to search in one place for all types of information—documents, procedures, guides, and external publications—and get summaries and quick analyses in just seconds.
“The great advantage of this tool is that it can interact: you ask a question and get answers that quickly recognize the situation,” said Mateus. At this moment, Fomento.AI is being tested with “Advanced Users” to gather their feedback, which has been really positive so far. It will be made available to everyone later.
The platform was created in collaboration with Glintt and uses engines from OpenAI. It did not cost much to implement because the bank knew what it wanted and had clear instructions from the beginning. The plan is to add other engines, like ChatGPT, once the licenses are secured.
Mateus pointed out that this issue of AI goes hand in hand with BPF's focus on cybersecurity. Sensitive banking and employee data remain secure in a controlled space to reduce risks. “Investing in AI without strong cybersecurity would be risky,” he said.
The BPF team is also preparing employees to use AI with tutorials and training. Mateus mentioned that knowing how to write prompts will become a key skill in many industries. Although it is not a requirement when hiring, having good digital skills is a significant advantage.
Looking to the future, the bank is focused on five key aspects: strong infrastructure, excellent customer experience, doing things right, the ability to change and move quickly, and staying secure and compliant. This includes automating some manually performed tasks, making the most of the cloud, and launching a new online space for businesses.
In the broader economic context, Mateus said that Portugal needs a gigafactory and that ongoing investments in cybersecurity are extremely important.
With this new way of doing things, BPF has seen a cultural shift, increasing annual production from 500 million euros in 2024 to over 6 billion euros. This is due to the fact that they have improved how they work, adopted private sector management methods, and focused on results.
“AI will completely change the way we work,” said Mateus. “Moving from simply searching to interacting with an AI tool changes the speed and depth at which people can obtain information. It’s a huge change, no doubt.”
Human Resources: BPF has 232 employees, and about 650 in the larger group.
Fomento.AI makes BPF a leader in integrating AI, cybersecurity, and digitalization, serving as an example for the use of internal AI in heavily regulated industries.
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