Snowflake Brings AI Muscle to Financial Services with MCP Support and New Suite of Tools

Snowflake Adds MCP Support, New AI Suite for Financial Services On Thursday, data platform Snowflake announced its own Model Context Protocol (MCP) Server, joining the ranks of Anthropic's pioneering effort last spring. The company also unveiled a new package of AI tools specifically designed for financial institutions, enabling them to develop AI agents safely and securely. According to Radhika Rajkumar, Editor at X Innovation Home, "Snowflake's move is a significant step towards making agentic AI more secure for sensitive datasets." The MCP Server is an extension of Snowflake's Cortex AI, which includes agents, data querying features, analysis, and partnerships with frontier models from Anthropic and OpenAI. The new tools are geared towards financial services, allowing them to develop AI agents that can handle complex tasks such as risk assessment, portfolio management, and customer service. "Financial institutions have been hesitant to adopt AI due to concerns about security and data protection," said Eugene Mymrin, a technology expert at ZDNET. "Snowflake's new tools address these concerns and provide a secure environment for financial services to develop and deploy AI agents." The MCP Server is designed to provide a standardized framework for AI models to interact with sensitive datasets, ensuring that data is handled securely and transparently. This development has significant implications for the financial sector, where data security and integrity are paramount. Snowflake's Cortex AI bundle includes partnerships with frontier models from Anthropic and OpenAI, among other perks. The new package of AI tools is an extension of this existing service, providing a secure environment for financial services to develop and deploy AI agents. The introduction of MCP Server and the new AI suite for financial services marks a significant milestone in Snowflake's efforts to make agentic AI more accessible and secure. As Eugene Mymrin noted, "This development has the potential to revolutionize the way financial institutions use AI, enabling them to develop more sophisticated models that can handle complex tasks." Background and Context Snowflake's Cortex AI bundle was launched earlier this year, providing a range of AI services for data analysis, querying, and model training. The new package of AI tools is designed specifically for financial services, addressing concerns about security and data protection. The MCP Server is a standardized framework for AI models to interact with sensitive datasets, ensuring that data is handled securely and transparently. This development has significant implications for the financial sector, where data security and integrity are paramount. Additional Perspectives Eugene Mymrin, a technology expert at ZDNET, noted that Snowflake's new tools address concerns about security and data protection in the financial sector. "Financial institutions have been hesitant to adopt AI due to concerns about security and data protection," he said. "Snowflake's new tools provide a secure environment for financial services to develop and deploy AI agents." Radhika Rajkumar, Editor at X Innovation Home, emphasized the significance of Snowflake's move in making agentic AI more secure for sensitive datasets. "This development has significant implications for the financial sector, where data security and integrity are paramount," she said. Current Status and Next Developments Snowflake's MCP Server and new AI suite for financial services are now available to customers. The company plans to continue developing its Cortex AI bundle, with a focus on providing secure and transparent AI solutions for sensitive datasets. As the use of agentic AI continues to grow in the financial sector, Snowflake's move is likely to have significant implications for data security and integrity. With the introduction of MCP Server and the new AI suite for financial services, Snowflake has taken a major step towards making agentic AI more accessible and secure. *Reporting by Zdnet.*