A Scottish financial advice platform is integrating generative AI capabilities in order to offer clients ‘unprecedented automation’.

Edinburgh-based Aveni will work with intelliflo, a global leader in financial advice technology, to revolutionise the financial advice workflow and compliance with an end-to-end solution.

Combining financial expertise with innovative AI engineering, the Aveni team has spent the last five years developing products to enhance financial services advice and risk management.

The partnership between Aveni and intelliflo will provide financial advisers with unprecedented automation in workflow and compliance.

Aveni is working towards embedding its product suite into intelliflo office for all customers in the coming months, offering a tailored solution for financial advice. 

With Aveni’s AI meeting assistant, advisers will be able to record 100 per cent of customer meetings, conduct compliance and administrative checks significantly faster – Aveni.ai estimates saving up to three hours per case.

This single source of data automation promises a ‘significant reduction in administrative burdens’, fostering increased human-to-human interaction and allowing advisers to maximise their focus on clients. 

Designed with the financial services sector in mind, these systems and technology address industry-specific challenges, including improving customer risk assurance and aligning with the Financial Conduct Authority’s “data-first” approach and Consumer Duty regulations.

This partnership will bring best in class processes together and continue to follow a structured roadmap of integration to enhance the financial advice model. intelliflo users will be able to leverage the latest advances in generative AI, NLP, and large language models, accessing reliable and transparent AI for unparalleled risk management and client service.

Joseph Twigg, CEO of Aveni, said: “The financial advice industry is about to embark on the most substantial change in a generation. Both the way in which advice is delivered to customers and the economics of the industry will be transformed through the implementation of Artificial Intelligence. intelliflo and Aveni align behind a clear vision and commitment to introduce the power of generative AI across the advice workflow, in a clear, responsible manner. Our strategic roadmap makes generative AI available to all intelliflo customers.”

Nick Eatock, CEO at intelliflo, said: “Thanks to our integrated partnership with Aveni, our customers will have the opportunity to leverage the latest advancements in AI and technology to streamline processes and deliver enhanced value. We’re always pleased to collaborate with companies like Aveni who share our vision for the future of financial advice, driven by innovation, intuitive design, and client-centricity.”