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How 3 fintech companies use integration data to power cutting-edge AI features
To stand out in their crowded markets, fintech companies need to support AI features that are personalized to each and every customer and consistently produce reliable and timely outputs.
We’ll walk through how real-world fintechs have accomplished just that by leveraging integration data.
Causal auto-calculates key financial metrics
Causal, a financial planning platform, wanted to use AI to accelerate their customers’ time to value and increase product usage more broadly.
With that in mind, they added QuickBooks and Xero integrations to their product, allowing them to ingest customers’ financial documents (e.g., P&L statements) and feed the data from these documents to their machine learning model.
They then built a product feature that sits on top of the model (dubbed their “AI Wizard”) that can calculate key financial metrics, like their customer’s gross profit, runway, and burn rate—all with the click of a button. The AI Wizard can even add these metrics to organized, customizable models so that customers can quickly uncover trends and make informed business decisions.
Taimur Abdaal, Causal’s CEO and co-founder, shares more on how their AI Wizard works:
Related: How Causal accelerated their time-to-value by 20% with Merge
Inscope auto-generates critical financial reports
AI is core to Inscope’s platform, as they use large language models (LLMs) to help customers’ finance teams create GAAP financial reports, cash flow statements, audit documents, and more with the click of a button.
To help a given customer create their own financial reports and documents, Incope integrates with the customer’s ERP system (typically NetSuite) and syncs a range of financial data every 24 hours, including the customer’s accounts, accounting periods, general ledger transactions, and income statements. The customer can then make a simple request, (e.g., “Create my most recent cash flow statements”), and Inscope’s LLM can use the integration data to generate that report(s).
Related: How Inscope uses Merge’s NetSuite integration to close target enterprise organizations
Neo.Tax auto-enriches tickets related to R&D projects
The fintech platform helps companies earn R&D tax credits by working with them to submit the appropriate set of documentation.
As part of this process, Neo.Tax’s customers need to upload tickets related to their work on R&D projects onto Neo.Tax. In addition, these tickets needed to be associated with the appropriate R&D projects and include the amount of hours taken to complete them.
To ensure that each R&D ticket includes these details, Neo.Tax integrates with every customer’s ticketing system and feeds ticketing data to their LLM.
Neo.Tax’s LLM can then use semantic context to automatically categorize each ticket and assign an accurate estimate of the hours taken to complete it.
Related: How Neo.Tax uses Merge to launch ticketing integrations 300% faster
Build best-in-class AI features with Merge
Using Merge, the leading unified API solution, you can power best-in-class AI features across your customer base.
Our unified API platform lets you add 200+ integrations across software categories through a single build, making it easy to access all of your customers’ data within a short timeframe.
Our suite of Integration Observability features and integration maintenance support (provided by our team of partner engineers) will also help your integrations experience little downtime—which enables your LLM to gather all the data it needs over time.
Finally, since Merge provides normalized data to your product, your LLM will be better positioned to generate high quality output more consistently.
Learn how Merge can power your fintech product’s AI features by scheduling a demo with one of our integration experts.
