Aveni, an AI fintech company, has been chosen as a vital AI partner by 7IM, a client-focused, technology-driven wealth and investment management company.
After the Ontario Teachers’ Pension Plan recently agreed to invest in 7IM, the company intends to use the technology to boost growth.
Investment in technology is the primary focus for 7IM since it is essential to improve client satisfaction and operational effectiveness. As AI is key to versatile growth and business transformation, the company is dedicated to innovation.
Furthermore, 7IM plans to implement Aveni’s Generative AI and Natural Language Processing (NLP) technology platform in order enhance the efficiency of its wealth managers and financial advisers while further improving its capacity for risk assurance.
With the use of the most recent developments in large language models, NLP, and generative AI, 7IM will be able to take advantage of AI technology to create an operating platform that is adaptable and offers optimal risk management and supervision. This is in accordance with the FCA’s Consumer Duty regulations and supports the FCA’s “data-first” strategy.
Through the AI partnership, both companies will work together on business prospects to increase the use of AI technologies within 7IM and in the larger asset and wealth management sector.
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Jana Sivananthan, chief risk officer at 7IM, commented: “7IM is a business that has a long history of putting its clients first by staying at the forefront of technological innovation. This approach is reflected in the choice to partner with Aveni for strategic AI adoption.”
Andy Johnston, board adviser at Aveni, added: “We’re in the initial phase of a technology revolution that will fundamentally change the industry over the next decade. This strategic partnership enables 7IM to deploy Aveni’s market leading AI-driven Client and Compliance tools, whilst working together to achieve transformational efficiencies across the whole value chain.’’