Wealth manager 7IM has partnered with AI fintech firm Aveni to leverage the technology to boost growth.
7IM will deploy Aveni’s Generative AI and Natural Language Processing (NLP)-based technology platform to boost productivity of its financial advisers and wealth managers.
It will allow the firm to build a scalable operating platform while providing risk management and oversight.
Both firms will collaborate on commercial opportunities to expand the application of AI technologies both within 7IM and across the broader asset and wealth management industry.
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Jana Sivananthan, chief risk officer at 7IM, said: “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.
“The recent announcement of Ontario Teachers’ intended acquisition of 7IM underlines our leading position in the UK asset and wealth management sector and creates an exciting opportunity to invest in further business transformation and scale significantly.
“Fundamental to that is a highly scalable operating platform and data-first approach to managing risk. We have chosen Aveni as a partner that can help us achieve that.”
Andy Johnston 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.”
