Claude and ChatGPT for financial services: connectors, workflows and limits

Claude and ChatGPT can build models, memos and filings summaries for finance teams, if a person signs off on every number.

Picks: 8; ranked

Yes, Claude is built for finance work: Anthropic's Claude for Financial Services pairs Claude with pre-built data connections to LSEG, FactSet, S&P Global, Morningstar, PitchBook and Moody's, and it works inside Excel and PowerPoint. ChatGPT Business can analyse statements and filings and has an Excel add-in. On Team and Enterprise plans, Anthropic does not train on your data by default. Anthropic says Claude does the assembly while the professional keeps the judgement calls.

Good for

Investment banking and equity research analysts
Credit and commercial banking teams writing memos
Asset managers and financial advisors preparing IC memos and reviews
Corporate finance and accounting teams running month-end close

Claude

Claude for Financial Services combines data connectors, Excel and PowerPoint tools and implementation support.

Plan: Team or Enterprise for firm data, because Anthropic does not train on your data by default on those plans. Claude for Financial Services is sold through Anthropic sales.

What it can do

Build pitch books, comps tables and CIMs in PowerPoint and Excel through Claude for Microsoft 365
Draft credit memos, spreads and covenant analysis in Excel
Produce IC memos, performance decks and portfolio reviews from your holdings data
Review actuarial workbooks and regulatory filings in Excel
Pull data from LSEG, FactSet, S&P Global (Capital IQ), Morningstar, PitchBook, Moody's, Dun & Bradstreet, Daloopa, Box, Databricks and Snowflake
Use Anthropic's finance plugin for journal entries, reconciliations, variance analysis and SOX testing
Use agent templates for pitch books, credit memos, KYC screening and fund accounting, as plugins in Claude and Claude Code

Limits

Anthropic's finance plugin does not give financial, tax or audit advice. Qualified professionals must review its output.
Claude for Microsoft 365 is not on the Free plan. It starts at Pro.
Anthropic's financial services page says it holds SOC 2 Type II and FedRAMP certification. Its government page says Claude Enterprise is not FedRAMP authorized today, so ask which product is covered. Neither replaces your own vendor review.
Anthropic lists model training as opt-out on Free, Pro, Max and Ultra, unlike Team and Enterprise.

Plugs to turn on

FactSet: FactSet's hosted server for prices, fundamentals, estimates, ownership, filings and transcripts.
Morningstar: Morningstar's hosted server for its research and valuation content.
EdgarTools: SEC EDGAR filings of every type, with no API key. Community built.
Snowflake-managed MCP Server: Query your own warehouse from Claude. Snowflake hosts the server.
Databricks managed MCP servers: Databricks-hosted servers for Genie, SQL and Unity Catalog in your workspace.

ChatGPT

ChatGPT Business covers statement analysis, filings summaries and an Excel add-in.

Plan: ChatGPT Business for firm data. OpenAI says it does not train on Business data by default.

What it can do

Analyse financial statements, KPIs and cash flow trends from uploaded spreadsheets
Summarise earnings reports, filings and internal documents
Work inside Excel with the ChatGPT for Excel add-in to build spreadsheets and update workbooks
Run deep research on finance questions, with sources such as FactSet named in OpenAI's example
Connect Google Drive, Box, Dropbox, HubSpot, Slack, Notion and Google Workspace
Reconcile expense data and run variance analysis from prompts OpenAI suggests

Limits

On Free, Go, Plus and Pro, chats can be used for training unless you opt out. Use Business for firm data.
OpenAI's deep research example notes some figures, such as customer acquisition cost, are not reported as a standard line item and must be inferred.
Business includes SSO and multi-factor sign-in. Check retention and audit terms with your compliance team.

Plugs to turn on

FactSet: FactSet's hosted server. Works in ChatGPT and Claude.
Morningstar: Morningstar's hosted server. Works in ChatGPT, Copilot and Claude.

Plugs worth turning on

Check which data you already license, then connect those servers first. Free options such as EdgarTools need no vendor contract.

Run month-end close with Anthropic's finance plugin

Claude

Install the plugin

In Claude Code, run:

claude plugin marketplace add anthropics/knowledge-work-plugins
claude plugin install finance@knowledge-work-plugins

In Cowork, install it from claude.com/plugins.

2
Connect your data
Connect your ERP and data warehouse so Claude can pull trial balances and subledger data. Without them, paste data or upload files.
Uses Snowflake, Databricks
3
Prepare the entries
Run the commands one at a time and read each result.
Prompt
```
/journal-entry ap-accrual 2026-10
```
4
Explain the variances
Ask for a driver breakdown with narrative, then challenge anything unexplained.
Prompt
```
/variance-analysis opex 2026-10 vs budget
```
5
Review before posting
A qualified person reviews every entry and workpaper. The plugin does not give financial, tax or audit advice.

Build a comps table from filings and market data

1
Pull the filings
Connect EdgarTools for free SEC filings, or FactSet if your firm licenses it.
Uses EdgarTools, FactSet

Ask for a table with sources

Ask for the figures, the filing each came from and the date. Name the peers yourself.

Prompt

Build a comps table for these five peers using the latest 10-K for each: revenue, EBITDA, net debt, EV/Revenue and EV/EBITDA. Cite the filing and page for every input, and list any figure you had to estimate.

3
Put it in Excel
Ask Claude in Excel (or the ChatGPT for Excel add-in) to lay the table out in your template.
4
Tie out
Check five inputs against the filing yourself before the table goes in a deck.

Summarise an earnings release and its risks

ChatGPT

1
Use a Business workspace
Sign in to ChatGPT Business so the upload is covered by its default of no training.

Upload the documents

Attach the earnings release, 10-Q and last quarter's model.

Prompt

Summarise this quarter in one page: revenue, margin and cash changes versus last quarter, guidance, and every risk or litigation note in the 10-Q footnotes. Quote the page for each point.

Run the variance pass

Ask for drivers behind the gross margin change.

Prompt

Run a variance analysis on gross margin versus last quarter and explain what drove it. Show the arithmetic.

4
Check the numbers
Compare the headline figures with the filing. Do not forward anything you did not tie out.

Verdict

Our advice: use Claude on Team or Enterprise if your work lives in Excel and licensed data, and ChatGPT Business if your team already uses it. Connect the data you license, and tie out every number before it leaves the building.

Our pick: EdgarTools

Our advice: start with free filings data, add licensed feeds once compliance signs off, and keep a person responsible for each figure.

Best for

Pitch books, comps and credit memos in Excel and PowerPoint
Month-end close and variance analysis
Summarising filings and earnings releases

Skip it if

Your policy bars sending client data to a third-party model
Nobody will tie out the numbers before they are used

Questions

Can Claude be used in financial services?

Yes. Anthropic offers Claude for Financial Services for banks, insurers, asset and wealth managers and fintech firms. It holds SOC 2 Type II certification and does not train on Team and Enterprise data by default.

What data does Claude for Financial Services connect to?

LSEG, FactSet, S&P Global (Capital IQ), Morningstar, PitchBook, Moody's, Dun & Bradstreet, Daloopa, Box, Databricks and Snowflake. You can also connect your own internal data.

Does Claude work inside Excel and PowerPoint?

Yes, through Claude for Microsoft 365, which also covers Word and Outlook. It starts at the Pro plan; Free does not include it.

How much does Claude for Financial Services cost?

Anthropic sells it through its sales team and lists no price on its page. Pro for individuals costs $17 a month billed annually or $20 monthly, as of November 2026.

Can ChatGPT analyse financial statements?

Yes. OpenAI shows ChatGPT Business analysing statements, KPIs and cash flow, summarising filings, and working in Excel through an add-in.

Is ChatGPT safe for confidential financial data?

OpenAI says it does not train on ChatGPT Business data by default and offers SSO and multi-factor sign-in. On Free, Go, Plus and Pro, chats can be used for training unless you opt out.

Can Claude connect to Bloomberg, FactSet or Morningstar?

Yes for FactSet and Morningstar, which publish their own servers. The Bloomberg server is community built.

What is the best AI for financial analysis?

It depends on your data and tools. Claude has pre-built data connectors and Excel and PowerPoint tools. ChatGPT Business has statement analysis and an Excel add-in. Pick the one that connects to what your firm already licenses.

Is there a Claude product for financial advisors?

Yes. Claude for Financial Advisors connects to custodian, portfolio, planning and CRM systems, with a plugin for onboarding, meeting prep, portfolio reviews, proposals and compliance reviews.

Sources

Docs, issue trackers and discussions this page is built from.

Show all 7

Claude for financial services · claude.com
Claude for Financial Services · anthropic.com
ChatGPT for finance · chatgpt.com
Finance & Accounting plugin · github.com
Claude pricing · claude.com
Deep research in ChatGPT · chatgpt.com
ChatGPT data controls · help.openai.com