Finastra has launched Assist.AI, an AI-powered assistant designed to support trade finance operations within its Trade Innovation solution. Built on Microsoft Azure OpenAI Service, Assist.AI provides instant, context-aware assistance to address industry challenges, including a declining knowledge base and a widening skills gap.
AI-powered assistance for trade finance
Assist.AI allows users to enter trade-related queries and receive precise answers sourced from relevant documentation, eliminating the need to navigate extensive manuals. Key features include:
- Instant user support – Provides accurate responses to trade finance questions.
- 24/7 availability – Automates routine inquiries, improving operational efficiency.
- Adaptive learning – Continuously refines responses based on user interactions.
Andrew Bateman, EVP of Lending at Finastra, highlighted the tool’s role in streamlining financial services: “Assist.AI represents a major step in leveraging AI to simplify trade finance. By providing instant assistance to bank employees, we help clients navigate industry complexities more efficiently.”
With experienced professionals retiring and new entrants needing training, Assist.AI incorporates Microsoft Copilot technology to facilitate knowledge transfer within financial institutions. The solution is designed to support banks in training new employees on trade finance processes and the Trade Innovation platform.
Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft, emphasized the collaboration’s impact: “Using Microsoft Azure’s AI capabilities, this solution enhances operational efficiency and user experience. Our partnership with Finastra reflects a shared vision for advancing financial technology.”
Featured image credit: Finastra
