PRESS RELEASE: London, 14 September 2023
Today, Trade Ledger announces it will launch a new solution integrating Microsoft Azure OpenAI Service designed exclusively for Business Owners, CFOs and Financial Directors in small and medium-sized businesses (SMB’s).
SMB’s 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, creates algorithmic queries and returns meaningful, actionable information. The new Generative AI interface interrogates the data Trade Ledger securely collects about a business and their 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.
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 analyzes profit and loss statements, sales ledgers, supplier data, balance sheets, trading co-party behaviours, 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.
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.
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About Trade Ledger
Trade Ledger was founded in 2016 to help the financial services sector reimagine complex business finance for SMEs and mid-market corporates in the digital economy.
The next-generation working capital platform supports all secured and unsecured business lending products, transforming data sources from the supply chain into actionable insights and tasks. This enables the right lending products to be created and offered at the right time,over the right channel, quickly, at low risk. Its clients boost their profitability, realising on average a 60% origination cost reduction, a 50% reduction in dropouts and loan book growthpotential of over 100% with embedded lending capabilities.
Backed by venture capitalists Point72 Ventures, Foundation Capital and Hambro Perks, and other notable investors such as Court Lorenzini (founder of DocuSign), Trade Ledger is currently scaling globally to accommodate a fast-growing client base of global trade banks, regional and national banks, and alternative finance providers. To date it has raised £16.6 million.