OpenAI has unveiled ChatGPT for Financial Services, a specialized version of ChatGPT Work for financial institutions. The launch is expected to strengthen OpenAI’s position in enterprise finance by initially targeting investment banking and equity research.

The service combines the GPT-6 Astra model with built-in financial data, research tools, financial modeling capabilities and tools for producing client deliverables. Morgan Stanley and Evercore helped OpenAI develop the product around finance teams’ workflows.

Financial data and analysis tools

ChatGPT for Financial Services includes data from Daloopa, PitchBook, LSEG News and Crunchbase. Those sources cover financial statements, earnings-call transcripts, company metrics, private-company information and other material used in financial analysis.

OpenAI indexes and stores the data on its own infrastructure. The company said this should improve search, processing speed and response accuracy while allowing the service to provide detailed citations to specific sources, tables and document excerpts.

OpenAI said finance professionals could use the service to normalize profit-and-loss statements, validate adjusted EBITDA, value companies, analyze earnings and prepare investment materials. GPT-6 Astra can process tables, figures and footnotes in financial documents, conduct analysis and turn the results into documents, spreadsheets and presentations.

The company is also developing integrations with financial-data subscriptions that institutions already use. OpenAI named S&P Capital IQ, LSEG, MSCI, Dow Jones Factiva and Moody’s among the providers with which it is building shared-authentication integrations, allowing users to access data to which they are already entitled.

The broader product ecosystem includes more than 50 connectors, including Datasite, Box, Preqin, FactSet and Intapp. OpenAI said these connections should reduce the manual work required to connect and search financial information.

Morgan Stanley and Evercore shaped initial focus

OpenAI said its early work with Morgan Stanley and Evercore helped identify finance teams’ main pain points, including reliable data access and the production of high-quality, client-ready materials. Those findings led the company to focus the first version on research and investment-banking workflows.

Morgan Stanley said the collaboration allows it to test new capabilities and adapt the technology to finance teams’ real-world work. Evercore said it is working with OpenAI to use advanced AI to deepen analytics while maintaining the professional standards and expert judgment required for client work.

OpenAI plans to use experience from the partnerships to train its models further, improve the product and expand into other financial-services categories. Financial institutions and developers can also build specialized products through the OpenAI API.

Enterprise security and access controls

ChatGPT for Financial Services uses the security and access-management features of ChatGPT Enterprise. These include SAML single sign-on, SCIM, role-based access controls, encryption for data in transit and at rest, and administrator-configured data-retention periods.

OpenAI said companies’ business data is not used to train its models by default. Compliance teams can export supported workspace logs through the OpenAI Compliance Platform for audits and internal investigations.

Administrators can centrally manage access to skills and applications, permit or block read and write operations, and establish separate workspaces to maintain information barriers.

OpenAI expands ChatGPT for professional work

The launch continues OpenAI’s effort to turn ChatGPT from a general-purpose chatbot into a work environment for complex professional tasks. In June, it was reported that the company was preparing ChatGPT’s biggest transformation since its 2022 launch, with programming tools, agent capabilities, third-party applications and a greater focus on enterprise customers.

OpenAI previously expanded ChatGPT Work with file handling, application integrations and support for multistep tasks. Its financial-services version adds specialized data and tools for banks and other financial institutions.

OpenAI has also become more closely integrated with financial infrastructure. In August, MoonPay introduced PayBox, a non-custodial wallet that enables cryptocurrency transactions within chats with ChatGPT and Claude, with plans to support Gemini and Grok.

Source: Incrypted