Organisations can modernise trade finance by embracing a combination of regulatory evolution, technology adoption and workforce upskilling.
Finastra’s Assist.AI solution is helping to reduce the knowledge and efficiency gaps in the trade finance industry by using Microsoft Copilot technology to support the necessary training and support.
Finastra’s Assist.AI
Finastra’s Assist.AI will enhance trade finance operations within its Trade Innovation platform by providing context-aware, instant support to help enhance operational efficiency.
This AI-powered assistant offers several benefits, including:
- Context-aware support
Assist.AI provides accurate, AI-driven answers to trade finance queries, reducing the need to search through extensive documentation
- 24/7 availability & efficiency
It automates routine inquires, allowing bank employees to concentrate on more strategic tasks, enhancing productivity
- Bridge the knowledge gap
Assist.AI will provide new staff with sufficient training and help them retain industry expertise as a greater number of experienced professionals retire
- Continuous adaptability & learning
The assistant will use AI to enhance its capabilities over time, altering responses based on changing trade finance regulations and user interactions
- Seamless integration with Microsoft technology
Assist.AI will ensure scalability, security and enhanced AI capabilities, being built on Microsoft Azure OpenAI Service and Microsoft Copilot
Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft, explains: “We are pleased to work with Finastra to make trade finance simpler and more efficient for banks worldwide.
“Using the robust capabilities of Microsoft 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.
“Together, we are committed to driving innovation and empowering businesses to achieve more through cutting-edge technology.”
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