Trade Ledger launches bank solution with Microsoft Azure OpenAI

By Gloria Methri

UK-based LendTech Trade Ledger is set to launch a new solution integrating Microsoft Azure OpenAI Service, designed exclusively for Business Owners, CFOs, and Financial Directors in small and medium-sized businesses (SMBs).

SMBs often don’t have the resources or in-house expertise to access and understand information to optimize the cash-to-cash cycle. Trade Ledger’s Working Capital Copilot built on Azure OpenAI Service tackles this challenge by using advanced Large Language Models (LLM) to interpret conversational language queries about cash management, create algorithmic queries, and return actionable information.

The new Generative AI interface interrogates the data that Trade Ledger securely collects about a business and its trading practices and is accessed conversationally within the Microsoft Teams platform. The new interface will be available to distribute by banks, as a simpler way for their customers to understand and apply for working capital credit.

‍Martin McCann, CEO and co-founder of Trade Ledger said, “There has been much focus on embedding bank credit products in business channels, however, most banks are confusing channel integration with embedded finance. Delivering working capital solutions in a conversational interface via Microsoft Teams results in a scalable embedded business lending initiative.”

Working Capital Copilot analyses profit and loss statements, sales ledgers, supplier data, balance sheets, trading co-party behaviours, and credit bureau records, and provides actionable insights into invoices, payments, and other transactions data.

Bank integration via API, provides real-time information on available financial credit products and can list matched options based on cash flow status, creditworthiness, and specific business requirements. The Working Capital Copilot will be able to apply to their bank for the optimal solution from within the Microsoft Teams chat.

Bill Borden, Corporate Vice President, Financial Services Industry at Microsoft added, “Trade Ledger’s Bank solution integrates Trade Ledger’s data model and solutions with the power of Azure OpenAI Service, giving commercial banks the opportunity to embrace Generative AI in a powerful, compliant and secure manner for the benefit of their business customers”.

The Working Capital Copilot solution will be generally available in 2024 via the Microsoft Commercial Marketplace. Banks interested in joining the wait list for the beta program can contact Trade Ledger representatives.