Palantir Technologies Inc. (NYSE: PLTR), a leading provider of AI systems, today announced it had renewed its partnership with UniCredit S.p.A to deploy the Palantir Foundry operating system to accelerate the bank’s digital transformation and help increase revenue and mitigate risks.
Palantir and UniCredit first partnered in 2018 as the bank sought technology that could streamline sales spanning jurisdictions, better operationalize machine learning and artificial intelligence, enforce policy compliance, and enhance decision making on the front lines. The bank chose Palantir Foundry as the operating system for the enterprise, leveraging a single, open and integrated platform across entities and business lines and enabling synergies across the Group.
Palantir Foundry has recently been extended to all CE&EE UniCredit Legal Entities and will now be used to manage strategic use cases all over the Group.
In the last 5 years, Palantir Foundry has generated considerable value for both UniCredit’s control functions and its commercial banking operations, driving process efficiencies and improving campaign management. For example, UniCredit noted that over the course of 2023, advanced analytics and propensity models in Foundry helped the bank generate a four-fold increase in customer redemption of protection products through better targeting.
“Palantir has long been a proud partner to some of the world’s top financial institutions,” said Palantir executive Josh Harris. “We’re honored that UniCredit has placed its confidence in Palantir once again and look forward to furthering the bank’s digital transformation.”
