Trade Ledger launches Beta Program for AI-enabled Working Capital solution

By Gloria Methri

Trade Ledger is now accepting applications from banks to join the beta program for its AI-enabled Working Capital Copilot solution. The company said the solution helps banks access the $120 trillion embedded lending market for working capital finance.

A small number of banks will be accepted for the beta program, giving them exclusive early access to the generative AI interface for embedded complex business finance. Copilot will not be generally available to other Trade Ledger customers until 2025.

The Trade Ledger data platform is already being used by banks such as HSBC and Barclays in 15 countries to cut the application to decision time for working capital finance to 48 hours. Copilot is built on top of the platform and will be available to banks participating in the beta program to distribute to their customers as a simpler way to understand and apply for working capital credit.

Through Working Capital Copilot, participating banks will be able to give their business customers the ability to query their financial data to identify where they need capital and when. Through an API connection with the bank, Copilot then finds bank lending products that fit that need.

Copilot, which is built on the Azure OpenAI Service and accessed through Microsoft Teams, uses advanced Large Language Models (LLM) to interpret conversational language queries about cash management and create algorithmic queries of the Trade Ledger database.

It analyses profit and loss statements, sales ledgers, supplier data, balance sheets, trading co-party behaviours, credit bureau records, and more and provides actionable insights into invoices, payments, and other transactions impacting cash flow.

“Applicants for the beta should see working capital lending as a core differentiator and have an aggressive growth strategy for the assets on their balance sheet in the small to the mid-market sector”, said CEO Martin McCann.

“They should also have strong brand recognition, an appetite for change, and already be dedicating significant resources to digital transformation. At Sibos 2023 we heard from a number of financial institutions that there’s a clear and obvious need to recognise and leverage the power of AI. Those that do, can capture the very evident market opportunity of SMB lending. We are looking forward to productionising this solution imminently with banks in the beta program.”