Australia’s financial services sector is rapidly embracing AI to improve accuracy, speed, and client experience.
From banking and insurance to accounting and advisory, teams are discovering how Microsoft Copilot can simplify data analysis, automate reporting, and improve decision-making across every department.
Copilot integrates directly into familiar Microsoft 365 tools, helping employees summarise client notes, prepare presentations, and draft reports in a fraction of the time.
By removing repetitive manual work, professionals can focus on providing insights, advice, and service that drive stronger client relationships.
According to the Australian Finance Industry Association, AI adoption in the sector is set to double within three years, with potential to add $60 billion in economic growth by 2035.
Australian banks have been among the first movers:
At Commonwealth Bank, 85% of staff using Copilot say they would not want to work without it, and 96% report improved productivity.
ANZ became the first Australian bank to purchase 3,000 Copilot licences, with early use showing engineers completing coding tasks up to 55% faster.
What Microsoft Copilot Brings to Financial Services
Microsoft Copilot is not just one product. It is a connected AI ecosystem designed to meet the unique needs of banks, insurers, and investment firms.
Microsoft 365 Copilot: Adds AI support within familiar apps like Excel, Word, PowerPoint, and Teams. Staff can summarise reports, analyse data, draft client updates, and prepare presentations in minutes.
Copilot for Finance: Provides finance-specific capabilities, such as automated reconciliation, variance analysis, and compliance reporting. Firms using it report an average 20-minute reduction per account reconciliation.
Custom AI Agents: Built in Copilot Studio, these agents automate processes ranging from client service to regulatory monitoring.
Where Copilot Is Making a Difference
Enhancing Customer Service and Advice
Financial customers expect quick, personalised support. Copilot enables this by:
Powering chatbots to handle routine enquiries, giving human staff more time for complex cases.
Assisting advisors with market research and portfolio analysis to provide tailored recommendations.
Preparing client meeting summaries that combine market trends, portfolio performance, and compliance notes.
Reducing Compliance Burdens
With oversight from ASIC and APRA, compliance demands are significant. Copilot supports:
Automated claims processing and policy validation in insurance.
Document verification and checks for KYC and AML compliance.
Faster credit assessments and loan processing while maintaining strong risk standards.
Enabling Data-Driven Decisions
Data-driven analysis is core to financial services. Copilot helps teams act on insights quickly by:
Monitoring markets and flagging opportunities for investment firms.
Assisting portfolio managers with real-time risk analysis and rebalancing strategies.
Automating reporting so finance teams can shift from manual tasks to strategic work.
Real-World Impact in Australia
In financial services, precision and trust are everything. Microsoft Copilot is helping banks and advisory firms meet both needs by simplifying data analysis, automating documentation, and strengthening compliance processes.
Bank of Queensland (BOQ) has integrated Microsoft Copilot into its operations to improve productivity and reporting accuracy. The bank reports time savings of over 90 percent in areas such as report writing, training material creation, and financial modelling.
By automating these routine tasks, BOQ has been able to redirect staff focus to innovation, customer engagement, and business growth.
Similarly, Westpac is collaborating with Microsoft to advance the responsible use of AI and improve data governance across its operations.
By combining Azure AI and Copilot capabilities, Westpac is exploring new ways to automate compliance checks, streamline workflows, and enhance customer experience without compromising security or regulatory obligations.
Across the broader financial sector, we’re seeing similar benefits as teams use Copilot to:
Summarise client interactions and internal reports
Create financial summaries, risk assessments, and presentations
Simplify compliance documentation and audit preparation
Strengthen collaboration between advisory, legal, and operations teams
Copilot is helping financial professionals focus on higher-value activities by turning data into clear, actionable information faster than ever before.
The Business Benefits
Institutions adopting Copilot are achieving measurable results:
Productivity and Efficiency
20-minute reduction per account reconciliation.
75% faster compliance reporting.
50% faster contract reviews.
22% lower handling time for routine tasks.
Compliance and Risk Management
Automated monitoring of regulation changes.
Real-time compliance checks in communications.
Faster audit preparation.
Improved fraud detection.
Better Customer Outcomes
Shorter loan approval times.
Faster claim resolutions.
24/7 support for simple queries.
Personalised financial advice at scale.
Getting Started: What Australian Firms Should Consider
Security and Privacy: Copilot meets Australian data sovereignty requirements and works within Microsoft 365’s enterprise-grade security.
Change Management and Training: Leading firms appoint “Copilot Champions” to guide adoption and share best practices (Microsoft Adoption).
Pilot Programs: Most organisations start with a focused pilot, then scale based on proven results.
Looking Ahead
Financial services adoption of AI is only beginning. The future will bring:
Smarter AI agents capable of managing complex processes.
Deeper integration with trading and core banking systems.
Sector-specific models for wealth management, underwriting, and more.
New governance frameworks balancing innovation and consumer protection.
Conclusion: Acting Early Matters
AI is giving the financial services industry a new advantage through accuracy, efficiency, and insight at speed.
Microsoft Copilot is proving that automation does not replace professional judgement; it enhances it. By reducing manual effort and improving access to reliable information, financial organisations are able to make faster, smarter decisions with confidence.
As seen with Bank of Queensland and Westpac, Australian institutions are showing that the right balance of innovation and governance can deliver measurable results.
From reporting to risk management, Copilot is supporting teams to stay compliant, responsive, and customer-focused in a highly regulated environment.
If your organisation is ready to see what Microsoft Copilot can do for your finance, banking, or advisory teams, CG TECH can help you plan, deploy, and manage Copilot securely and effectively.
About the Author
Carlos Garcia is the Founder and Managing Director of CG TECH, where he leads enterprise digital transformation projects across Australia.
With deep experience in business process automation, Microsoft 365, and AI-powered workplace solutions, Carlos has helped businesses in government, healthcare, and enterprise sectors streamline workflows and improve efficiency.
He holds Microsoft certifications in Power Platform and Azure and regularly shares practical guidance on Copilot readiness, data strategy, and AI adoption.
Australia’s financial services sector is rapidly embracing AI to improve accuracy, speed, and client experience.
From banking and insurance to accounting and advisory, teams are discovering how Microsoft Copilot can simplify data analysis, automate reporting, and improve decision-making across every department.
Copilot integrates directly into familiar Microsoft 365 tools, helping employees summarise client notes, prepare presentations, and draft reports in a fraction of the time.
By removing repetitive manual work, professionals can focus on providing insights, advice, and service that drive stronger client relationships.
This blog is part of our ongoing series exploring how Microsoft Copilot is transforming industries across Australia, following our recent articles on government, healthcare, education, not-for-profits, retail, manufacturing, and energy.
The Current State of AI in Australian Finance
According to the Australian Finance Industry Association, AI adoption in the sector is set to double within three years, with potential to add $60 billion in economic growth by 2035.
Australian banks have been among the first movers:
What Microsoft Copilot Brings to Financial Services
Microsoft Copilot is not just one product. It is a connected AI ecosystem designed to meet the unique needs of banks, insurers, and investment firms.
Where Copilot Is Making a Difference
Enhancing Customer Service and Advice
Financial customers expect quick, personalised support. Copilot enables this by:
Reducing Compliance Burdens
With oversight from ASIC and APRA, compliance demands are significant. Copilot supports:
Enabling Data-Driven Decisions
Data-driven analysis is core to financial services. Copilot helps teams act on insights quickly by:
Real-World Impact in Australia
In financial services, precision and trust are everything. Microsoft Copilot is helping banks and advisory firms meet both needs by simplifying data analysis, automating documentation, and strengthening compliance processes.
Bank of Queensland (BOQ) has integrated Microsoft Copilot into its operations to improve productivity and reporting accuracy. The bank reports time savings of over 90 percent in areas such as report writing, training material creation, and financial modelling.
By automating these routine tasks, BOQ has been able to redirect staff focus to innovation, customer engagement, and business growth.
Similarly, Westpac is collaborating with Microsoft to advance the responsible use of AI and improve data governance across its operations.
By combining Azure AI and Copilot capabilities, Westpac is exploring new ways to automate compliance checks, streamline workflows, and enhance customer experience without compromising security or regulatory obligations.
Across the broader financial sector, we’re seeing similar benefits as teams use Copilot to:
Copilot is helping financial professionals focus on higher-value activities by turning data into clear, actionable information faster than ever before.
The Business Benefits
Institutions adopting Copilot are achieving measurable results:
Getting Started: What Australian Firms Should Consider
Looking Ahead
Financial services adoption of AI is only beginning. The future will bring:
Conclusion: Acting Early Matters
AI is giving the financial services industry a new advantage through accuracy, efficiency, and insight at speed.
Microsoft Copilot is proving that automation does not replace professional judgement; it enhances it. By reducing manual effort and improving access to reliable information, financial organisations are able to make faster, smarter decisions with confidence.
As seen with Bank of Queensland and Westpac, Australian institutions are showing that the right balance of innovation and governance can deliver measurable results.
From reporting to risk management, Copilot is supporting teams to stay compliant, responsive, and customer-focused in a highly regulated environment.
If your organisation is ready to see what Microsoft Copilot can do for your finance, banking, or advisory teams, CG TECH can help you plan, deploy, and manage Copilot securely and effectively.
About the Author
Carlos Garcia is the Founder and Managing Director of CG TECH, where he leads enterprise digital transformation projects across Australia.
With deep experience in business process automation, Microsoft 365, and AI-powered workplace solutions, Carlos has helped businesses in government, healthcare, and enterprise sectors streamline workflows and improve efficiency.
He holds Microsoft certifications in Power Platform and Azure and regularly shares practical guidance on Copilot readiness, data strategy, and AI adoption.
Recent Posts
Popular Categories
Archives