Finastra Launches AI Assistant to Enhance Trade Finance Operations

Finastra has announced the launch of Assist.AI, an AI-powered assistant aimed at enhancing trade finance operations within its Trade Innovation solution. This tool is built on the Microsoft Azure OpenAI Service architecture and is designed to bridge the knowledge gap in the trade finance industry by providing users with instant, accurate, and context-aware assistance.

The trade finance sector is currently facing challenges such as a diminishing knowledge base and a growing disparity between experienced professionals and new entrants. Assist.AI addresses these issues by offering prompt-based assistance, allowing users to ask specific questions related to trade processes and receive precise answers without the need to sift through extensive documentation.

Assist.AI provides several benefits to Trade Innovation users, including enhanced user support with 24/7 availability, which boosts efficiency by automating routine inquiries. The tool also continuously learns and adapts based on user interactions, ensuring ongoing relevance and improvement in responses. This solution is available globally to users of Finastra Trade Innovation.

Finastra identified a significant talent gap in the trade finance industry, as experienced staff retire or transition to other careers. Assist.AI, powered by Microsoft Copilot technology, facilitates training and support for new staff, making it a timely addition to the industry.