Octopus Money and Aveni launch new AI partnership

Octopus Money has launched a new partnership with Aveni.ai which will see the firm adopt Aveni’s AI solutions across its adviser and coaching teams.

Following a successful trial, Octopus Money has adopted Aveni Detect and Aveni Assist to allow customers receive support while ensuring the requirements of Consumer Duty compliance are being fully met.

Aveni Assist, an AI assistant for financial advisers, captures key information from client meetings to automate note taking, generate information for suitability reports and enable greater personalisation for each interaction.

Aveni Detect automates the quality assurance process, providing 100% coverage of all customers calls, prioritising cases for review, and allowing for a more systematic approach to addressing root issues quickly.

Chief operating officer at Octopus Money, Paul Titterton, said that administrative burdens, which have been “heightened” by Consumer Duty, can make it harder for advisers to serve clients of all asset sizes.

“By embracing AI-driven solutions, we can spend more time doing what we do best: supporting our customers and closing the advice gap,” Titterton said.

“We believe money advice has the power to evolve to meet regulatory requirements while remaining inclusive and scalable. This kind of forward-thinking approach is what will ensure the long-term sustainability of financial advice for all.”

Aveni CEO, Joseph Twigg, added: “Octopus Money’s continuously innovative use of technology to enhance the human experience reflects the huge potential afforded by the right AI solutions. With a very focused financial advice and coaching model, it is important that the tools can be maximised to deliver exactly what teams need to support their customers best.

“The increased emphasis from the FCA on targeted support and delivering better outcomes for customers is a fundamental benefit of AI, through improved data gathering for greater personalisation, vulnerability detection and reducing admin to increase client time.”



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