Schroders Personal Wealth taps AI-based Aveni Detect platform


Aveni has been selected by Schroders Personal Wealth to transform its compliance function through the deployment of the Aveni Detect platform.  

According to the firm, through the deployment of the Aveni Detect platform, SPW will use the latest advances in NLP to monitor client interactions and produce data-led evidence of compliance.

SPW has selected this AI and NLP-based technology platform to sit at the heart of its operating model reflecting its strategic approach to transform how it delivers, monitors and assesses its advice offering and surrounding control environment.

The adoption of the latest advances in generative AI, NLP and large language models will allow SPW to address all areas of the value chain, providing unparalleled risk management and oversight which will help drive material efficiencies and lower its cost to serve.

Aveni CEO Joseph Twigg said, “This partnership is great news for both Aveni and SPW and demonstrates a true shift in the way advice is being offered and assessed. Recent advances in generative AI such as Aveni Detect are set to fundamentally transform the investment industry.

“Placing AI technologies at the heart of business operating models is no longer a nice to have; it will determine who wins and who loses over coming years. SPW is demonstrating its commitment to remaining at the forefront of the market.

“The Aveni team has been recognised by SPW for its unique combination of deep technical capability – through our globally-recognised NLP experts – and the specialist domain expertise across wealth management and financial investment. This collaborative expertise allows us to fully understand the challenges facing the sector and to create the best solutions to ensure customer assurance, compliance and cost-saving.”

Ray Milne – chief risk officer at Schroders – added, “At SPW our clients are at the heart of everything we do. Our partnership with Aveni shows our commitment to using technology to ensure the quality of our advice. It will enable us to identify vulnerable and other high-risk clients, helping us support them in the best possible way.”

Aveni recently revealed that Aveni Detect had been made available on the Genesys AppFoundry marketplace.

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