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June 20, 2024

Bringing the efficiency of AI to FinTech: Paysafe streamlines internal processes with Copilot for Microsoft 365

Facing complex documentation, an intricate web of information, and multiple languages and geographies, leading payments platform Paysafe decided to address these challenges with Copilot for Microsoft 365. With the enthusiastic endorsement of its CEO, Paysafe’s employees quickly used Copilot to streamline meetings, information management, and document creation, addressing language barriers, eliminating time-consuming tasks, and boosting creativity along the way.

Paysafe

Paysafe is a payments platform serving merchants and consumers in the global entertainment sectors. It enables businesses and consumers to connect and transact, offering services like payment processing, digital wallets, and online cash solutions. In 2023, Paysafe facilitated a total of over USD140 billion in transactions. The company supports 260 payment types in over 40 currencies worldwide. 

A drive for new technologies

“As a FinTech company, we aim to use the newest technologies to drive efficiency. When we saw the demo of Copilot, we knew we had to try it out,” shares Daniel Ivanov, Director of Corporate IT at Paysafe. The company's Chief Executive Officer Bruce Lowthers’ enthusiasm for artificial intelligence (AI) gave the team more confidence to experiment. “We joined the Copilot for Microsoft 365 Early Access program the first chance we got,” recalls Ivanov.

With overwhelming interest from employees, Paysafe distributed the first 200 licenses and monitored usage to ensure effectiveness. Paysafe then collaborated with Microsoft and Noventiq, organizing workshops and training sessions aimed at helping employees maximize the benefits of Copilot in their daily tasks.

From manual to automated

Paysafe experienced benefits early, with Copilot transforming the way they ran internal meetings. "Before Copilot, we had to have someone take notes, write action items, and note down the participants at every meeting. Now with Copilot, all these details are ready for us," shares Ivanov. Paysafe employees can also ask Copilot to quickly recap what happened when other tasks have led them to join late or miss a meeting. 

Aside from meeting documentation, Paysafe staff uses Copilot to speed along tasks like summarizing information and creating presentations. “We used to do things manually, dealing with a lot of administrative work. Copilot makes everyone happy because suddenly the least enjoyable tasks can be done automatically,” reflects Ivanov.

With Copilot, employees can also search for information more easily. Ivanov describes, "Copilot can look through documents and find the information I’m looking for, which saves me time and eases my cognitive load, especially if there’s a lot of reading involved." This provides timely access to accurate information, which can greatly influence project delivery and decision-making.

Creativity across borders

Paysafe also uses Copilot to address the challenges of a diverse and multilingual global workforce. "We work in multiple countries. Everything needs to be translated into various languages: policies, standard operating procedures, meetings. Even if we could do it ourselves or hire someone else, it would take a lot of time, not to mention the cost," explains Nilce Piccinini, PR Director at Paysafe. “Now, I can have Copilot automatically translate texts and focus my efforts on quality assurance.” 

Copilot is useful not just in translation, but also in streamlining document creation. Ivanov explains, "Our IT team uses Copilot in Word to prepare technical documentation or knowledge base articles. They reference various documents and Copilot combines the information into one neat text. Compared to preparing documentation from scratch or searching for information manually, with Copilot, our IT team saves between 10% to 50% of time."

“Compared to preparing documentation from scratch or searching for information manually, with Copilot our IT team saves between 10% and 50% of time.”

Daniel Ivanov, Director of Corporate IT, Paysafe

With drafting made so much simpler, Paysafe employees can now spend more time on creative output. "I can ask Copilot to create a first draft quickly, so instead of staring at a blank page, I can unleash my creativity to perfect the copy. I can then ask Copilot to expand my ideas or suggest options," elaborates Piccinini. This is particularly appreciated by Paysafe’s marketing and communications departments, where crafting compelling messages is key. "Within our marketing team, we rigorously test headlines and translate content across various languages,” Piccinini adds. "Copilot significantly streamlines these tasks, automating translations and providing diverse headline options swiftly. This not only saves us time but also ensures precise and efficient communication."

Securing confidence in innovation

Support from Paysafe’s top management was pivotal in propelling the adoption of Copilot across its operations. "Initially, we were hesitant about AI. Think about it: we process transactions for companies and merchants all over the world; we can't risk safety lapses. But when our top management endorsed it, it validated our curiosity, and the decision to equip people with Copilot licenses gave us a safe way to experiment," Piccinini reflects. "I remember our CEO say, ‘If you are not using AI yet, you should start.’ I felt completely empowered, really, to experiment and discover what we could achieve with Copilot."

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