Five minutes with Aveni

Tell us about Aveni

Aveni uses AI technology to automate many of the administration processes within advice firms. Using generative AI and NLP, our solutions are trained on financial services specific data to accurately capture, transcribe, summarise and analyse adviser and client meetings. This helps firms improve conversations and mitigate compliance risks and at the same time reduce inefficiency and the admin burden on team members.

How do Aveni’s solutions interact with intelliflo office?

We’ve just launched the Aveni app in the intelliflo store. Straightaway this allows intelliflo office users to record, transcribe and summarise every client video conference call and face-to-face meeting and automatically store it in the client file.

We’re working closely with intelliflo on a development roadmap to deepen this integration over the next few months. The next phase will extract information from the meeting transcript to auto-populate certain client fields within intelliflo office. Users will also be able to generate tailored reports and customer emails.

Phase three will add our Detect functionality, which provides an automatic quality assurance check for every meeting within minutes of it finishing. The check looks for things like signs of customer vulnerability and compliance with Consumer Duty. Once complete, the review will be saved in the relevant client file within intelliflo office to support regulatory reporting requirements, highlighting if any further action is necessary.

What benefits will intelliflo office clients see from using Aveni’s solutions?

By integrating our AI technology into their workflows via intelliflo office, advisers will be able to complete low-value admin tasks that would normally take two to three hours in a fraction of the time. Rather than scribbling down notes, our solutions mean advisers can fully engage with the client conversation and add even greater value to the relationship. Following the meeting, the software will generate a report for the adviser to review and accept, freeing up advice professionals to focus on more valuable work.

How do your solutions help advisers meet the Consumer Duty requirements?

Most advice firms are already providing advice that meets the requirements of Consumer Duty. However, documenting client interactions is a crucial part of compliance and, as we’ve seen with recent FCA activity, this isn’t always being completed in line with the regulator’s expectations. Our AI-powered solutions capture every detail of client conversations and generate concise summaries of the key discussion points which are then automatically saved in the intelliflo office client file so firms have complete and accurate records at their fingertips.

Where do you see the future of AI in financial advice?

We see this technology as the start of a fundamental shift in the way people work. By combining the single source of truth for customer and business data that intelliflo provides with Aveni’s AI-powered solutions, we can streamline processes and reduce admin to the point where advisers will be able to see two to three times as many clients as they do now. Our ultimate objective is to help firms widen access to advice without compromising on quality.

Aveni’s integration with intelliflo office also adds a high level of transparency to the advice process, which should improve the consistency of advice and support firms in delivering the best possible outcomes for their clients.

 

For more information about Aveni, please visit aveni.ai. If you are an intelliflo customer, please visit intelliflo store to get the app.