Alice Chambers |
Finastra is helping to bridge the knowledge gap in the trade finance industry with its new AI-powered assistant, Assist.AI.
Built on architecture powered by Microsoft Azure OpenAI Service, Assist.AI uses Microsoft Copilot technology to train and support new staff. It does this by answering specific questions with contextual information. The aim is to boost employee efficiency by automating routine inquiries and freeing up time.
“We are pleased to work with Finastra to make trade finance simpler and more efficient for banks worldwide,” said Bill Borden, corporate vice president of worldwide financial services at Microsoft. “Using the robust capabilities of Azure, this solution exemplifies the power of AI in enhancing operational efficiency and user experience. This collaboration not only showcases our shared vision for the future of financial technology, but also strengthens the long-standing relationship between Microsoft and Finastra.”
The solution also learns and adapts based on interactions, ensuring ongoing relevance and continuous improvement in responses.
“This timely and much needed solution represents a significant leap forward in our commitment to advancing open finance and leveraging AI technology to solve real-world challenges in financial services,” said Andrew Bateman, executive vice president of lending at Finastra. “By providing instant assistance to bank employees, we are empowering our clients to navigate the complexities of trade finance with greater ease and efficiency.”