OpenAI Group PBC is going after Wall Street with a new version of ChatGPT that’s tailor made for financial tasks such as analysis and calculations.
Predictably called ChatGPT for Financial Services, it’s designed to combine rich financial data with the powerful reasoning skills of GPT-6 Astra to help financial teams develop their research, create new financial models and branded materials for clients.
It has become a trend for artificial intelligence companies to try to package their most powerful frontier models in ways that make them easier to use in specific industries, in an effort to drive more targeted enterprise revenue. In a briefing with reporters, OpenAI Vice President and Head of ChatGPT Nick Turley said financial services is one of the verticals it’s prioritizing most, along with software engineering and cybersecurity.
OpenAI is a bit late to the game, though. Its chief rival Anthropic PBC launched a dedicated financial services product called Claude for Financial Analysis way back in May 2025. However, OpenAI believes that ChatGPT for Financial Services is going to be useful enough that it will become the “one product” that banks and other financial firms with thousands of workers will ever need. “This is the canonical product we are hoping the industry adopts,” Turley said.
Turley said he personally played a big role in the new product’s development. He spent time working with several large financial institutions, including Morgan Stanley and the investment advisory firm Evercore Inc. to work out the kinds of features they need in a dedicated chatbot for financial teams.
They also helped OpenAI to make sure ChatGPT for Financial Services is ultra-reliable. “There’s a big difference between what looks good in a demo and what is actually a usable output, [and] you kind of rely on the experts to achieve that,” he explained.
Rich data access
To access ChatGPT for Financial Services, banks must first pay for an enterprise subscription, and then they must apply directly to OpenAI, because it’s currently only available to “eligible institutions.” The offering feels similar to ChatGPT Work in many ways, with many of its features derived from that tool, albeit with a “finance-specific bend,” Turley told reporters.
The actual interface looks similar to the standard ChatGPT, but it has a few extra toggles for users to integrate financial data from specific sources. For instance, banks will be able to connect their own data or datasets from providers such as Bloomberg and FactSet.
OpenAI also offers access to pre-loaded datasets from Crunchbase, Pitchbook, Daloopa and LSEG News. In addition, there are about 50 Model Context Protocol connectors, which make it possible to connect with other data and third-party software. Whenever ChatGPT for Financial Services uses this data to inform its outputs, it will provide detailed citations, Turley said.
Users will also be able to decide if they want ChatGPT to make a high, medium or low effort when generating its responses. The greater the effort, the more tokens are consumed and the slower the response, but it should mean better-quality outputs. Besides answering financial questions, ChatGPT for Financial Services can create PowerPoint slides, Excel spreadsheets and web-based dashboards.
In a blog post, OpenAI said it’s possible for users to conduct deep research using multiple datasets as sources to create “detailed artifacts” from a single prompt. “For example, for an acquisition, they can compare the target with its peers, and test how revenue growth affects valuation, and turn the entire analysis into an editable model or pitchbook using their firm’s templates,” the company explained.
According to Turley, one of OpenAI’s larger goals is to transform the way that financial analysts get their work done. He said a ChatGPT-coded dashboard could make it easier for someone to simulate how different conditions impact on their financial forecasts, for example.
They would simply input the condition and ChatGPT would generate the revised forecast, rather than them having to fiddle around with numbers in an Excel spreadsheet. “We’re trying to think of new ways of doing the work, rather than just making the existing ways faster,” he said.
Could automation backfire on banks?
As impressive as it all sounds, there are concerns that ChatGPT for Financial Services might encourage banks to hire less junior staff. That could have big consequences for an industry where workers traditionally have to undergo a rigorous apprenticeship in order to get their foot in the door. If a chatbot can conduct research and create a new pitchbook in a few minutes, banks might be less likely to get junior staff to do these kinds of tasks.
Such a concern was raised by Goldman Sachs partner Chris Churchman, who heads up that bank’s flagship AI projects. He told CNBC in an interview last month that if the tasks traditionally handed to junior bankers as part of their training start being automated instead, it could result in “cognitive atrophy” in the next generation of bankers.
For his part, Turley leaned on the tired argument that ChatGPT for Financial Services is simply a productivity booster, helping employees to get more work done in the same amount of time. “Depending on the industry, they’re usually working 100-hour weeks,” Turley said of analysts and bankers. “I think in the same way that Excel transformed the industry and allowed them to produce better analysis faster, you will see technology like this do the same.”
