OpenAI launches a dedicated version of ChatGPT for financial service, “available to eligible financial institutions”
OpenAI has launched a dedicated version of ChatGPT for financial services designed to help firms develop research, models, and customised client materials.
“This product has been shaped by our design partnership with Morgan Stanley and Evercore. The collaboration has enabled us to pinpoint where OpenAI can solve the biggest challenges for financial institutions and has guided us on the solutions that will help every banker in their day-to-day work.” – according to the press release.
The service is powered by the latest GPT-6 Astra, which OpenAI claims is “state of the art” across three of the core capabilities required for financial services work: information retrieval, financial reasoning, and artifact generation.
This is combined with built-in data that removes the challenges with MCP connectors and access to data, says OpenAI. Because the data is indexed and hosted by the company, it enables higher accuracy and new features like granular citations so that bankers can trace figures and claims back to their sources, and check the evidence as their analysis develops.
In ChatGPT for Financial Services, administrators can publish Excel, Word, and PowerPoint templates through a dedicated admin page. With firm templates and style guides configured, teams can turn their analysis into valuation models, research notes, and pitchbooks in their firm’s format and style.
Frontier research, shaped by financial expertise
“Our early work with Morgan Stanley and Evercore has helped steer where we have started: investment banking and equity research. Reliable access to data and high quality artifact creation proved to be the biggest pain points for their teams. Our work with partners will inform post training, product improvements, and our expansion into other financial services categories.” – the company said.
Morgan Stanley said: “The promise of frontier research becomes real when it helps our people do the work that matters for our clients. We’re working alongside OpenAI to bring that intelligence into how we research companies, develop analysis, and prepare advice. We can test ideas together and help shape how the technology develops. For our firm, that means a product increasingly informed by our people, our methods, and the work that matters to our clients.”
Evercore commented: “We focus on the questions that matter most to our clients, and we have an opportunity to apply frontier intelligence to help address them. We are working closely with OpenAI to shape how its technology can deepen the insights behind our advice, while building on the judgment and rigorous standards our clients expect from Evercore.”
ChatGPT for Financial Services includes datasets from providers like Daloopa, PitchBook, LSEG News and Crunchbase covering earnings transcripts, financial statements, company fundamentals, private companies, and more.
“Teams can start working with these datasets immediately, with no separate contracts to negotiate or connectors to set up. We index and host this data on OpenAI infrastructure, allowing us to improve retrieval, latency, and how we surface it in the product experience. For a banker running a P&L normalization analysis, that means being able to inspect the reconciliation and notes behind an adjusted EBITDA, understanding which costs were excluded, and deciding how to use it in a valuation.” – the company explained.
“Our partners are central to this work and as we expand coverage, we will continue to deepen our models’ understanding of these datasets. We will post train our models to find, interpret, and use this data like we know the best analysts can.”
“The value of financial research depends on the quality of its inputs, but reliable private market data can be difficult to find and validate from public sources. Now, Crunchbase’s structured private company data, covering companies, funding, investors, and acquisitions and continuously updated and verified, will be at the fingertips of financial teams using ChatGPT. With Crunchbase data, financial teams can move from questions to meaningful insight much faster.”- said Jager McConnell, CEO of Crunchbase.
