Integrating ChatGPT into Finance Application Guide

How to Integrate ChatGPT into Finance Software

Estimated read time: 9 minutes

Wondering how to integrate ChatGPT into finance software? You need to integrate it into your finance industry app. Do the following:

1. Build a team to plan the project to integrate ChatGPT into your finance industry app

We begin with an assumption that you currently have a banking or financial industry app. You want to significantly improve the customer experience. Having heard about ChatGPT’s ability to transform organizational processes, you want to utilize this artificial intelligence-powered chatbot.

First, you need to define and plan this enhancement project. Define a software development approach and technical solutions. This project needs a comprehensive project plan.

You need a small team with senior people for this. Onboard a project manager (PM) to lead this team. You should have a business analyst (BA) and software architect too. 

The PM should know the important project management methodologies and project management frameworks. Competent PMs need knowledge of project management best practices. You need a PM with knowledge of project management tools

The BA should define the functional requirements. The architect should define the technical solution and non-functional requirements (NFRs).

2. Determine whether you should at all integrate ChatGPT into your finance or banking industry app

To begin with, you need to decide whether you should really integrate ChatGPT into your finance app. Analyze how this artificial intelligence (AI)-powered tool can assist. It can help your finance app to do the following:

  • Mitigate financial crime risks by identifying suspicious transactions;
  • Improve customer service in banks and financial services institutions;
  • Provide personalized financial advice;
  • Provide personalized wealth management services;
  • Resolve customer queries and customer concerns about products and services;
  • Provide financial planning services;
  • Improve risk management processes by identifying potential risk factors;
  • Implement better risk management processes by managing risk tolerance and identifying potential compliance issues;
  • Maintain regulatory compliance by identifying potential compliance violations;
  • Get insights by analyzing customer data and market data;
  • Analyze market data, market trends, and financial data;
  • Provide financial planning services;
  • Provide useful content to customers that rely on your financial planning services;
  • Analyze customer behavior after collecting customer data;
  • Verify customer identity;
  • Process customer identity-related data securely;
  • Secure transaction data by identifying suspicious patterns;
  • Identify potential frauds and flag suspicious transactions;
  • Analyze data after gathering customer data;
  • Avoid significant financial penalties by maintaining a sound compliance posture;
  • Mitigate financial crime risks by monitoring bank transactions;
  • Streamline operations;
  • Improve the outcome delivered by virtual assistants;
  • Secure customer identities and mitigate potential risks of data breaches;
  • Provide valuable content regarding personal financial management;
  • Make processes like loan origination process quicker;
  • Assist customers by analyzing credit scores and improving customer onboarding;
  • Automate critical processes like debt management, market research, loan origination process, risk management, etc. fully or partially;
  • Retain customers by helping them stay up to date with important market trends;
  • Leverage generative language tools and other AI capabilities to assess potential economic disruptions.

3. Gather, analyze, and document the requirements for ChatGPT integration you’re your finance and banking industry app

It’s time to gather, analyze, and document requirements. The BA needs to lead these activities. Interviewing business stakeholders is important, which helps the BA to gather functional requirements.


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E.g., you might choose to use ChatGPT for the following requirements:

  • To offer personalized financial advice by using ChatGPT for wealth management;
  • Providing financial planning services;
  • Managing potential risks by analyzing potential risk factors;
  • Creating content that covers investment banking best practices;
  • Identifying potential compliance violations;
  • To monitor transaction activities;
  • Enabling financial institutions and banks to avoid costly fines by improving the regulatory compliance posture;
  • To provide better customer service;
  • To assist banks and bank employees alike in automating routine tasks;
  • Providing improved virtual assistants;
  • To implement better processes for assessing risks;
  • Improving risk management using ChatGPT.

The architect should define non-functional requirements like scalability, performance, maintainability, testability, security, etc. Together, they should write requirements effectively. 

You should define the scope of the project thoroughly. We assume that you plan to integrate ChatGPT into your web and mobile apps. The PM needs to implement a thorough requirements management process.

4. Decide on a ChatGPT integration approach

We recommend that you take the following approach to integrate ChatGPT into your finance app:

  • Plan for a new chatbot from scratch. You can implement the functionalities that you want.
  • Design the user interface (UI) of the chatbot.
  • Develop the new chatbot.
  • Integrate the ChatGPT API into the newly built chatbot.
  • Integrate the chatbot into your web and mobile apps.

This approach allows for maximum customization. We assume that you will require plenty of customization since ChatGPT offers plenty for the finance sector. Note that this integration approach is complex, therefore, you need skilled and experienced developers.

Note: There are two other ChatGPT integration options. We don’t recommend these due to limited customization options. These are as follows:

  1. You can just integrate the ChatGPT API into your app. Even people without software development skills can do this. However, you don’t get any customization options.
  2. You can use chatbot builder platforms like Chatfuel, Landbot, and Tars. You need developers for this approach. This is an easy approach too. However, you can only do as much customization as the chatbot builder platform allows you to do.

5. Plan the project to integrate ChatGPT into your finance industry app

At this point, you need the PM to plan the project. The project planning process needs to be comprehensive. Your team needs a detailed project plan that covers all the key aspects, e.g.: 

  • Risk management;
  • Human resource planning;
  • The technical environment of the project;
  • Project tasks and the dependencies among them;
  • Project schedule and milestones;
  • Quality management;
  • Cost management;
  • Communications management;
  • The methodology and framework to be used.

6. Hire developers for ChatGPT integration

Hire skilled and experienced people for the following roles:

Do the following:

A. Select an appropriate hiring platform

Decide where to hire developers from. Hiring freelancers might appear to be a good idea. Several freelance platforms allow you to hire freelancers at a low rate. You should avoid this approach for a ChatGPT integration project. 

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You get only limited bandwidth from freelancers. They work part-time on your project. Freelancers might leave your project mid-way. You will then need to hire replacement developers. You can’t get any project management support from freelance platforms either.

Hire full-time developers from DevTeam.Space instead. As a trustworthy software development company, we offer skilled, experienced, and motivated developers. DevTeam.Space offers project management support.

B. Interview candidates

Now that you chose a hiring platform, post your job ad. Hire candidates that apply. Use our sets of interview questions and answers. Check out the following samples:

Ask questions that help you evaluate the practical knowledge of developers. Avoid asking only theoretical questions.

Ask developers how they solved problems in their earlier projects. Explain your project requirements and ask how they would approach such a project.

C. Onboard the new developers

Having found competent developers, you now need to onboard them effectively. Describe your projects, and explain the technical solutions. You need to share the relevant documents with the new team members.

Grant access to the new developers. You need to introduce them to your current team. Talk about their roles and responsibilities.

Describe the project plan to the new developers. Explain the milestones and work approval processes. You need a communication process with the new team members, furthermore, you should establish accountability.

7. Manage the project to Integrate ChatGPT into your finance industry app 

The project team now needs to do the following:

  • Design the user interface of the new chatbot; 
  • Enhance the UI design of the mobile and web apps to include the chatbot integration;
  • Code and test the new chatbot;
  • Develop the required APIs;
  • Complete the chatbot development by integrating the ChatGPT API;
  • Code and test the web and mobile apps to complete the chatbot integration.

The architect should oversee these tasks.

This project needs a comprehensive code review. The architect should implement it. The team needs to test the ChatGPT integration from end to end. You need the PM to monitor and control the project.

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It takes considerable effort to integrate ChatGPT into a finance app. You need highly skilled and experienced web and mobile app developers. Additionally, developers need a sound knowledge of ChatGPT’s natural language processing capabilities. 

We at DevTeam.Space provide developers with relevant expertise, experience, and motivation. DevTeam.Space developers are vetted. They are trained in our AI-powered agile process.  

Want to know more about how we can help? Please fill out the DevTeam.Space product specification form. An experienced account manager will contact you soon. 


1. Can DevTeam.Space keep customer data secure while integrating ChatGPT into my finance app? 

DevTeam.Space developers have knowledgeable, experienced, and motivated developers. Our developers utilize our world-class development processes. Their extensive information security knowledge keeps your customer data secure.

2. Have DevTeam.Space programmers integrated ChatGPT in finance apps that analyze customer data? 

DevTeam.Space developers have integrated ChatGPT in finance apps that analyze customer data. As required in such complex projects, they have focused on quality. They delivered supportable and maintainable code that delivers functional requirements effectively.

3. Can DevTeam.Space developers integrate ChatGPT into personalized financial planning services apps?

DevTeam.Space developers can integrate ChatGPT effectively into apps providing personalized financial planning services apps. Such projects are complex. In addition to expert developers, you get complementary support from a dedicated tech account manager. Project execution becomes easier.


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