London, 18th March 2024 – LHV Bank, the UK licensed bank serving the Banking Services, SME Lending and Personal Savings sectors, has become another early adopter in the Financial Services space of ChatGPT Enterprise. An important step in the Bank’s strategy to utilise AI for operational efficiencies, the adoption of ChatGPT Enterprise provides unlimited access to the OpenAI tool for all its employees.

Erki Kilu, CEO of LHV Bank Limited said: “We are very excited about the potential of utilising ChatGPT across our organisation. It can be a colleague’s personal assistant, sparring partner, creative collaborator and trusted advisor, across a myriad of applications from coding and data analysis to market research and value innovation. The power of ChatGPT and other AI technologies are transforming lives, enabling more to be achieved in the same amount of time, and we believe the adoption of ChatGPT Enterprise will have a strong and positive impact on the LHV Bank business. In particular, we can see huge potential for it to help us increase automation and efficiency across all aspects of our operations, as well as build new customer solutions.”

Adopting the ChatGPT Enterprise edition offers significant advantages and unique features beyond the standard ChatGPT version. LHV Bank employees will benefit from improved interaction quality, greater customisation options and advanced data handling. Plus, importantly, the Enterprise version comes equipped with advanced security measures ensuring all data used at LHV Bank remains confidential and protected.

LHV Bank is working with OpenAI to implement ChatGPT Enterprise across its operations, including supporting a nominated team of champion users as well as educating all employees on the vast array of benefits and applications.

As Erki Kilu added, the adoption of ChatGPT Enterprise was a natural next step in the Bank’s application of AI across the organisation. “We will now focus on areas where the power of AI can be used most efficiently. We also plan to hire dedicated AI engineers to help our colleagues realise their ideas and visions of adopting AI in various day-to-day processes.”