Finastra, a leading financial technology company, is revolutionizing the trade finance industry with its new AI-powered assistant, Assist.AI. This innovative tool, built on Microsoft Azure OpenAI Service, uses Copilot technology to train new staff and provide contextual information to answer specific questions, ultimately boosting employee efficiency by automating routine inquiries.
Bill Borden, corporate vice president of worldwide financial services at Microsoft, expressed excitement about the collaboration, stating that the solution exemplifies the power of AI in enhancing operational efficiency and user experience. The collaboration aims to make trade finance simpler and more efficient for banks worldwide, strengthening the relationship between Microsoft and Finastra.
Assist.AI also learns and adapts based on interactions, ensuring ongoing relevance and continuous improvement in responses. Andrew Bateman, executive vice president of lending at Finastra, highlighted the solution’s significance in advancing open finance and leveraging AI technology to solve real-world challenges in financial services. By providing instant assistance to bank employees, Assist.AI empowers clients to navigate the complexities of trade finance with ease and efficiency.
Overall, Finastra’s Assist.AI represents a significant leap forward in advancing open finance and leveraging AI technology to enhance employee productivity and customer experience in the trade finance industry. The collaboration between Finastra and Microsoft demonstrates their shared vision for the future of financial technology and their commitment to improving operational efficiency and user experience in the industry.
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