Finastra has launched Assist.AI, an AI-powered assistant designed to enhance trade finance operations within its Trade Innovation solution.
Built on Microsoft Azure OpenAI Service, the tool provides instant, accurate, and context-aware support, addressing the knowledge gap in the trade finance industry.
The sector faces challenges such as a shrinking pool of experienced professionals and a growing gap between new and seasoned staff.
Assist.AI offers prompt-based assistance, enabling users to ask specific questions about trade processes and receive precise answers without navigating extensive documentation.
Assist.AI enhances user support by delivering instant, accurate, and relevant assistance. It is available 24/7, ensuring users can access support at any time while improving efficiency by automating routine inquiries.
The tool also continuously learns and adapts based on user interactions, improving response accuracy over time.
“This solution represents a significant step forward in our commitment to Open Finance and leveraging AI to address real challenges in financial services. By providing instant assistance, we empower our clients to navigate trade finance complexities more effectively,”
said Andrew Bateman, EVP Lending at Finastra.
Finastra identified a talent gap through discussions with clients, as experienced staff retire or move into other roles.
Banks must train new employees in trade finance and Trade Innovation, and Assist.AI, powered by Microsoft Copilot, facilitates this process.
Featured image credit: edited from freepik
