Deutsche Bank's corporate venture capital (CVC) group has invested in Kodex AI, a Berlin-based start-up developing AI technology for the financial industry.

The start-up has been working with the bank on large language model (LLM) based specialised technology that can be used to extract and analyse data from financial documents.

The model was specifically trained for the financial industry in order to "precisely understand complex technical terminology and contexts".

Deutsche Bank says that this allows for deeper and more accurate analysis of financial documents compared to general AI models.

It added that unlike traditional solutions that are limited to text, the solution can also interpret visual elements such as tables.

“Kodex AI developed a solution that addresses the specific needs of a highly regulated industry and has the potential to significantly enhance the efficiency of how financial data is being extracted and analysed,” said Gil Perez, Deutsche Bank’s chief innovation officer. “I look forward to continuing our close partnership helping Thomas and Claus grow their company to meet all the quality needs and security requirements of the banking industry.”

The bank is already piloting a chatbot that focuses on non-financial risk by helping employees get quick answers to policy-related questions and navigate through the high volume of complex documents.

Kodex AI is the latest company to join Deutsche Bank's CVC portfolio, having already invested in Binalyze and Plan A.

The bank said its CVC programme is a core element of the bank’s innovation agenda.

“Our focus is on strategic corporate venture capital investments in start-ups that use technology to either support and enable innovative services, or increase productivity of processes”, said Joerg Landsch, head of central corporate venture capital, Deutsche Bank. “We commit capital, expertise, access and resources to our strategic investments to enable growth and success.”

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