Fintech Slash is making significant strides in developing Twin, its AI agent that automates financial workflows for businesses, and recently launched an AI agent for accounting.
The business banking platform continued to develop Twin after raising $100 million in a series C round in April, bringing its total valuation to $1.4 billion.
Now, Slash is “fully integrating” Twin into its main dashboard, with plans to make the feature live within the coming months, Head of Product Andy Jiang told FinAi News.
This marks an evolution of the product, which functions more as an AI assistant that businesses can query by connecting to internal data sets and communication tools such as Slack, he said.
The integration turns Twin into an AI-native interface that enhances businesses’ ability to automate processes including payments, billing and documentation, Jiang said.
“The way that we like to think about it is that agents are this universal interface for dealing with this sort of busy work that a human hopefully should never have to do in the future.”
— Andy Jiang, head of product, Slash
Twin was built with strict guardrails to prevent unauthorized money movements, he added.
AI tailormade for accounting
Separately, Slash launched an AI agent for accounting a few months ago to streamline repetitive workflows, Jiang said.
Every transaction logged in a bank account must be coded to the right general ledger, whether that’s an office, meal or travel expense, he said.
“You have to code a lot of these custom fields that you might be using in an accounting platform like [Oracle] NetSuite,” Jiang said.
Slash designed the accounting agent to help users “create these mappings for all the transactions in their books, and it actually learns over time,” he said.
“It takes in all of this data, like their historical transactions, from NetSuite,” to better understand bookkeeping preferences, Jiang said. “And, of course, we build really robust internal benchmarks that help us measure in a quantitative way how well our agent is actually doing.”
Businesses using Slash’s subscription-based platform include:
- Voice AI platform Bland AI;
- Medical record retrieval and analysis platform Codes Health;
- Venture capital firm Dune Ventures;
- Online shoe retailer Hike Footwear;
- Logistics company ShipLogix; and
- Advertising agency StreetTalk.
Other business banking platforms are also developing new AI tools. For example, Mercury plans to launch a product this year that automates processes such as invoicing and transaction categorization, the fintech announced in May.
Across Slash’s infrastructure, AI tools for “accounting automation, expense management and auto-reimbursement parsing are turning operations that used to take 10-plus hours into tasks completed in under 30 seconds,” Chief Executive Victor Cardenas previously told FinAi News.
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