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.”
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, Palantir’s expectations regarding the amount and terms of the contract and the expected benefits of our software platforms. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Forward-looking statements are based on information available at the time those statements are made and were based on current expectations as well as the beliefs and assumptions of management as of that time with respect to future events. These statements are subject to risks and uncertainties, many of which involve factors or circumstances that are beyond our control. These risks and uncertainties include our ability to meet the unique needs of our customer; the failure of our platforms to satisfy our customer or perform as desired; the frequency or severity of any software and implementation errors; our platforms’ reliability; and our customer’s ability to modify or terminate the contract. Additional information regarding these and other risks and uncertainties is included in the filings we make with the Securities and Exchange Commission from time to time. Except as required by law, we do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise.
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Contacts
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