The Bank of London has launched a Generative AI assistant designed to expedite coding for businesses testing embedded banking applications through its API suite.
This API is now accessible in a free sandbox testing environment, allowing developers to simulate and validate their applications and integrations across various product offerings. These include current and interest-bearing accounts, segregated accounts, confirmation of payee functionalities, payments, customer onboarding, and virtual accounts.
The TBOL AI was initially crafted to enhance the bank’s Developer Studio, equipped to respond to inquiries across multiple programming languages while addressing both general and technical questions in real-time.
Frankie Woodhead, Chief Product Officer at The Bank of London, indicates plans for further development of the AI, which will soon incorporate direct chat features within the API documentation. This enhancement will enable clients and developers to engage directly with the bank’s product and technology teams.
“Our groundbreaking TBOL AI represents just the beginning of our journey to integrate artificial intelligence into our broader services as a regulated bank. This innovation aims to provide businesses with real-time Banking-as-a-Service and API functionality,” Woodhead explains. “We already offer the fastest route to market in the UK, boasting one of the most comprehensive API solutions available. Our unique approach also ensures accessibility; users can enter our API sandbox freely, without the constraints of non-disclosure agreements or paywalls.”