OpenAI targets Wall Street bankers with a new version of ChatGPT

OpenAI is targeting Wall Street with a new version of ChatGPT called ChatGPT for Financial Services. This tailored AI tool combines rich financial data with GPT-6 Astra's reasoning abilities to assist financial teams in research, model creation, and branded material development for clients. OpenAI's Vice President and Head of ChatGPT, Nick Turley, emphasizes that the financial services sector is a top priority along with software engineering and cybersecurity.

Although OpenAI is somewhat late to the market, with Anthropic launching Claude for Financial Analysis in May 2025, they believe ChatGPT for Financial Services can become the "one product" that financial firms ever need. To access the product, banks must first pay for an enterprise subscription and then apply directly to OpenAI, as it's currently available only to "eligible institutions."

The interface resembles ChatGPT Work but has finance-specific features, such as the ability to integrate financial data from sources like Bloomberg and FactSet. Users can also connect pre-loaded datasets from providers like Crunchbase, Pitchbook, Daloopa, and LSEG News, as well as 50 Model Context Protocol connectors. When using this data to generate outputs, ChatGPT provides rich citations.

Users can choose the level of effort for generating responses, with higher effort resulting in better quality outputs at the cost of increased token consumption and slower response times. ChatGPT for Financial Services can create PowerPoint slides, Excel spreadsheets, and web-based dashboards. OpenAI's goal is to transform the way financial analysts work by making it easier to simulate different financial conditions and generate revised forecasts using a single prompt.

However, there are concerns that the chatbot might encourage banks to hire fewer junior staff, potentially leading to "cognitive atrophy" in the next generation of bankers. Turley argues that ChatGPT for Financial Services is merely a productivity booster, similar to how Excel transformed the industry by allowing analysts to produce better analysis faster.