Trade Ledger to Launch Beta Program for AI-Enabled Working Capital Solution

Trade Ledger is now accepting applications from banks to join the beta program for its artificial intelligence-enabled Working Capital Copilot solution.

This solution helps banks access the $120 trillion embedded lending market for working capital finance, the company said in a Tuesday (Oct. 10) press release.

Built on Trade Ledger’s data platform and deployed by Accenture, the beta program for Copilot provides banks with a generative artificial intelligence (AI) interface for embedded complex business finance, according to the release. The program is now open for banks interested in expanding their small and medium-sized business (SMB) lending portfolio.

During the beta program, only a select number of banks will have early access to Copilot, the release said. Other Trade Ledger customers will have to wait until 2025 when the solution becomes generally available.

The Trade Ledger data platform is already being used by banks like HSBC and Barclays in 15 countries, reducing the time it takes to process working capital finance applications, per the release. With Copilot, which is built on top of that platform, participating banks can offer their business customers a simplified way to understand and apply for working capital credit.

Working Capital Copilot empowers businesses to analyze their financial data and identify their capital needs, according to the press release. By integrating with the bank through an application programming interface (API) connection, Copilot matches the business’s requirements with suitable lending products offered by the bank. This addresses a significant obstacle faced by SMBs, who often lack the resources and expertise to determine their working capital needs.

Copilot, powered by the Azure OpenAI Service and accessible through Microsoft Teams, uses large language models (LLM) to interpret conversational language queries about cash management, the release said. By analyzing financial statements, supplier data, credit bureau records and more, Copilot provides insights into invoices, payments and other transactions that impact cash flow.

Through real-time integration with the bank, Copilot offers SMBs up-to-date information on available working capital products based on their cash flow status, creditworthiness and specific business requirements, per the release. Businesses can then apply for these products directly within Microsoft Teams, with the application-to-decision process expedited through the Trade Ledger platform.

PYMNTS Intelligence has found that AI is taking center stage in the banking and financial services world. From enhancing customer journeys to fortifying against threats, the technology is shaking up the sector, according to “AI and Banking’s New Dawn: From Conversations to Conversions,” a PYMNTS and Galileo collaboration.