The Bank of London has launched a generative AI (genAI) assistant to speed up coding for firms testing banking applications via its API.

The AI assistant, called TBOL AI, has been developed to support the bank’s Developer Studio, which allows business to access to its API for embedded banking in the UK.

The clearing bank said the genAI assistant is designed to handle questions involving multiple programming languages and address general and technical queries in real-time.

The bank said it will develop the tool to further to integrate direct chat capabilities within the API documentation, allowing companies to communicate directly with bank product and technology staff.

The Bank of London API is live in a free sandbox test environment which allows developers to simulate and test their applications and integrations across different offerings such as customer onboarding, virtual accounts and confirmation of payee.

“Our game changing TBOL AI marks a first of many steps in integrating AI into our broader offering as a regulated bank to help businesses benefit from our real-time Banking-as-a-Service and API capabilities,” said Frankie Woodhead, The Bank of London’s chief product officer. "We’re already providing the UK’s fastest route to market with one of the most comprehensive API offerings of any bank, alongside a unique approach as a safer bank; anyone can access our API sandbox today without the need to sign non-disclosure agreements or go through paywalls.”

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