Palantir partners with Societe Generale to combat financial crime

DENVER - Palantir Technologies Inc . (NASDAQ: NASDAQ:PLTR), a $195.65 billion market cap company with impressive 28.79% revenue growth over the last twelve months, has announced the implementation of its Anti Financial Crime technology at Societe Generale (OTC:SCGLY), aiming to bolster the European bank’s defenses against money laundering and fraud within its international retail banking operations.

The technology, part of the Palantir Foundry platform, includes advanced analytics, machine learning, and risk assessment tools. This suite is designed to enhance the bank’s ability to detect and mitigate financial crime risks. The partnership combines Palantir’s technological prowess, backed by an industry-leading 80.25% gross profit margin, with Societe Generale’s industry expertise to push the envelope in financial crime prevention strategies. According to InvestingPro, the company maintains excellent financial health with strong liquidity metrics.

François Bohuon, General Manager of Palantir France & EMEA Executive, expressed pride in collaborating with Societe Generale to address the challenges of increasingly sophisticated financial crime.

Palantir’s press release includes forward-looking statements regarding the contract’s terms and potential benefits of their software platforms. However, these statements are subject to various risks and uncertainties, and there is no guarantee of the software’s performance or the company’s ability to meet customer needs. InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 18 additional exclusive ProTips and a comprehensive Research Report available for subscribers.

The collaboration with Societe Generale signifies a step forward for Palantir in the financial services sector, where the demand for robust security and data integrity solutions is on the rise.

The information for this article is based on a press release statement from Palantir Technologies Inc.

In other recent news, Palantir Technologies Inc. announced the reinstatement of Jeffrey Buckley as Chief Accounting Officer, effective March 24, 2025. This decision follows the interim assignment of CFO David Glazer to the role after Heather Planishek’s resignation. Meanwhile, Morgan Stanley (NYSE:MS) has maintained its Overweight rating on Palantir, setting a price target of $115, citing a positive outlook on the company’s guidance, which aligns with market expectations. Additionally, Wedbush reaffirmed its Outperform rating with a $120 price target, emphasizing Palantir’s strong position in the AI sector and its potential to reach a trillion-dollar market capitalization in the future.

Concerns over potential Pentagon budget cuts have caused some volatility in Palantir’s stock, as a significant portion of the company’s revenue comes from U.S. government contracts. Despite this, analysts like Dan Ives from Wedbush remain optimistic, viewing the sell-off as a buying opportunity. Furthermore, Loop Capital initiated coverage on Palantir with a Buy rating and a $141 price target, highlighting the company’s leverage in AI and GenAI themes. These developments underscore the varied perspectives of analysts on Palantir’s future, with a focus on its AI capabilities and strategic positioning in the market.

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