Finastra has partnered with Microsoft to launch Assist.AI

Finastra has jumped into the AI arena with its latest offering, an AI-powered assistant designed to revolutionize how financial institutions operate. This innovative tool promises to automate tasks, enhance decision-making, and elevate customer service. Leveraging the power of machine learning and natural language processing, the assistant can understand and respond to customer inquiries with accuracy and relevance. It also takes on the heavy lifting by automating key processes like account opening, loan processing, and fraud detection. Simon Paris, CEO of Finastra, is clearly enthusiastic about the launch, calling it a “game-changer” for the financial services industry. He believes this tool will empower financial institutions to boost efficiency, cut costs, and provide superior customer experiences.Assist.AI is already available to Finastra customers, with promises of even more features and capabilities in the pipeline.

Here’s how the AI assistant will reshape financial operations:

• Efficiency boost: By automating tasks and processes, the assistant frees up valuable staff time.
• Cost reduction: Automation leads to lower operational costs.
• Enhanced customer experiences: Customers can expect faster and more accurate responses to their inquiries.
• Improved decision-making: The assistant provides valuable insights and recommendations to guide strategic choices.

Real-world applications are already emerging:

• Banks are using the assistant to speed up account opening, slashing the process from days to mere minutes.
• Credit unions are leveraging the assistant to deliver 24/7 customer service, resulting in happier customers and fewer calls to the call center.
• Investment firms are utilizing the assistant to analyze market data and generate investment recommendations, leading to improved performance.

Finastra’s Assist.AI is poised to be a transformative force in the financial industry, enabling institutions to streamline operations, enhance customer experiences, and thrive in an increasingly competitive landscape.