OpenAI launches ChatGPT for Financial Services, targeting investment banking workflows
OpenAI launches ChatGPT for Financial Services, targeting investment banking workflows #
OpenAI has launched ChatGPT for Financial Services, a version of its enterprise product built to automate research, financial modeling, and client presentation work that has traditionally fallen to junior investment bankers and equity researchers.
The product, announced Thursday, runs on GPT-6 Astra, the company’s most advanced reasoning model. Morgan Stanley and Evercore served as design partners during development, according to OpenAI, helping shape the product around problems common in financial work, including unreliable data access and the time required to produce client-ready materials.
Unlike OpenAI’s existing ChatGPT Work platform, the new product integrates licensed financial datasets directly. Initial data providers include LSEG News, PitchBook, Daloopa, Crunchbase, and Quartr, giving users access to earnings transcripts, financial statements, and company fundamentals within the workspace. Additional providers, including S&P Capital IQ, Moody’s, MSCI, Preqin, Datasite, Dow Jones Factiva, and Box, are also part of the data ecosystem, according to reports.
The platform supports financial workflows including valuation and leveraged buyout modeling, buyer screening, earnings analysis, and pitchbook preparation. Outputs can be delivered in Excel, Word, and PowerPoint, using firm-configured templates and style guides that administrators publish centrally. A citation system lets users trace data points back to original source filings, a feature aimed at compliance teams.
“We’re effectively teaching ChatGPT to research like an analyst and back up its conclusions like an analyst as well,” Nick Turley, OpenAI’s vice president of product, said during a briefing announcing the launch, as quoted by CNBC.
The product builds on ChatGPT Enterprise’s existing security infrastructure, including SAML SSO, SCIM provisioning, and role-based access controls. Information barriers between separate workspaces replicate the separation investment banks maintain between deal teams. Firms’ business data is not used to train OpenAI’s models by default, the company said, and is encrypted at rest and in transit.
The launch puts OpenAI in direct competition with Anthropic, which released Claude for Financial Services last year. When asked whether the tool could reduce demand for junior banking hires, Turley said it was intended as an efficiency tool rather than a headcount reduction measure. The effect on entry-level finance hiring remains an open question across the industry.
Copy link