By The Tech Buzz
Publication Date: 2026-10-22 05:41:00
Europe’s financial services industry is making a decisive break from proprietary AI. At GTC Berlin, Revolut revealed it’s rebuilding its entire technology stack on a single foundation model called PRAGMA, powered by NVIDIA accelerated computing. The fintech giant joins a wave of European banks, payment processors, and financial data providers betting that open weight models running on their own infrastructure will deliver better intelligence than closed systems from OpenAI or Google.
Revolut just made the boldest infrastructure bet in fintech. The UK-based digital bank, which serves over 40 million customers across Europe, is consolidating its AI operations onto PRAGMA, a single foundation model that runs entirely on its own hardware. The move, announced at NVIDIA’s GTC Berlin conference, signals a dramatic shift in how European financial services companies think about artificial intelligence.
The decision isn’t happening in isolation. Multiple European banks, payment processors, and financial data providers showcased production-scale AI systems at the event, all built on the same architecture: NVIDIA accelerated computing running open weight models on private infrastructure. It’s a direct challenge to the closed-model approach that dominates Silicon Valley, where companies like OpenAI and Google control both the models and the data that flows through them.
For European financial institutions, that control issue isn’t just philosophical. It’s existential. GDPR regulations…