Revolut builds a research unit around its own model, PRAGMA

Revolut, which has more than 80 million retail customers, set up Revolut Research inside its AI department to build PRAGMA, a family of encoder-style transformer models developed with NVIDIA. It was pre-trained on about 24 billion banking events from roughly 26 million users in more than 100 countries, and powers risk assessment, platform operations and product recommendations.

Against Revolut's own specialist models on historical data, PRAGMA improved fraud recall by 64.7%, credit-scoring precision-recall by 130% and recommendation relevance by 40%.