By 
The Israel Securities Authority (ISA) has granted approval for Bridgewise, a fintech startup, to launch its AI-powered chatbot, “Bridget,” in collaboration with Israel Discount Bank later this month. According to a report by Bloomberg, Bridget will provide stock recommendations based on user queries, though it will not offer personalized financial advice.
An ISA spokesperson confirmed that while the chatbot can suggest which stocks to buy or sell, it is restricted from delivering advice tailored to individual customers. The approval comes as part of the ISA’s efforts to foster innovation within the financial sector while maintaining regulatory oversight.
Gaby Diamant, CEO of Bridgewise, described the chatbot as “ChatGPT with a financial edge,” emphasizing that the company’s development process involved close collaboration with regulators to ensure compliance. “We’ve done everything in a calculated way, with the regulators involved end to end,” Diamant added.
In addition to its partnership with Israel Discount Bank, Bridgewise is working with a second Israeli bank and a retail trading platform in Brazil. The company also plans to introduce new features, including 12-month share price forecasts, earnings call transcripts, and tools to assist users in creating custom-themed portfolios, enhancing the platform’s utility for investors.
Comments