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Trade Ledger Launches Bank Solution with Microsoft Azure OpenAI Service

Trade Ledger, a fintech company, has announced that it will be launching a new solution that integrates Microsoft Azure OpenAI Service. This solution is specifically designed for small and medium-sized businesses (SMBs), including business owners, CFOs, and financial directors.

SMBs often lack the resources and expertise to optimize their cash-to-cash cycle. To address this challenge, Trade Ledger has developed its Working Capital Copilot on Azure OpenAI Service. This solution utilizes advanced Large Language Models (LLM) to interpret and analyze conversational queries related to cash management. It then generates algorithmic queries and provides meaningful and actionable information.

The new interface, which is built on Generative AI, gathers data securely collected by Trade Ledger about a business and its trading practices. It can be accessed through the Microsoft Teams platform in a conversational manner.

The interface will be made available to banks, offering their customers a simpler way to understand and apply for working capital credit. This enables banks to provide working capital solutions within a conversational interface, resulting in a scalable embedded lending initiative for businesses.

The Working Capital Copilot analyzes various data sources including profit and loss statements, sales ledgers, supplier data, balance sheets, trading co-party behaviors, and credit bureau records. It provides actionable insights into invoices, payments, and other transactional data.

Through API integration with banks, the solution offers real-time information on available financial credit products. It can generate a list of matched options based on cash flow status, creditworthiness, and specific business requirements. This enables users to directly apply for the optimal solution from within the Microsoft Teams chat.

Bill Borden, Corporate Vice President, Financial Services Industry at Microsoft, commented on the collaboration with Trade Ledger, stating that their solution allows commercial banks to leverage Generative AI in a powerful, compliant, and secure manner for the benefit of their business customers.

The Working Capital Copilot solution is set to be generally available in 2024 through the Microsoft Commercial Marketplace. Banks interested in participating in the beta program can contact Trade Ledger representatives to join the waitlist.

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