AI fintech firm Aveni.ai the has been selected by wealth and investment management business 7IM as a strategic AI partner.

Aveni said it plans to leverage technology as it accelerates its growth following Ontario Teachers’ Pension Plan’s recent agreement to invest in 7IM.

7IM prioritises technology investment as fundamental to operational efficiency and enhanced client experience. The firm will deploy Aveni’s generative AI and natural language processing (NLP)-based technology platform to boost productivity of its financial advisers and wealth managers, as well as further strengthen its risk assurance capabilities.

The AI partnership will also see both firms collaborating on commercial opportunities to expand the application of AI technologies both within 7IM and across the broader asset and wealth management industry.

Chief risk officer at 7IM, Jana Sivananthan, 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.

“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.”

Board adviser at Aveni, Andy Johnston, 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.”

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