Raw Knowledge has launched a new managed smart data platform for the wealth and investment management sector.

The platform has been built in partnership with its parent company, Industrial Thought’s product development and tech innovation hub, Thought Train.

It extracts complex structured, semi-structured and unstructured data formats, such as PDFs and scanned documents, using generative AI and large language models. The platform then enhances the quality and usability of the extracted data sources before combining it into a single source.

In an internal pilot, the specialist data provider and data management firm found that its data extraction times dropped by 70% for one of its key propositions.

The platform has been developed to support firms with processing and verifying data into a single source. Raw Knowledge stated that for wealth managers or investment platforms, this might include fund, market, performance and client data, received in different formats and from disparate sources.

The managed smart data platform is built on Lakehouse architecture and employs data lineage technology, which allows data to be stored in its original form and for any changes to the data to be recorded automatically.

Managing director at Raw Knowledge, Preya Patel, said: "By combining our 25 years’ of data management expertise with that of a forward-thinking tech innovation hub like Thought Train, we’ve created a solution that can deliver clean, organized and validated data. This gives businesses a foundation from which they can unlock valuable, data-driven insights and deliver better, more streamlined customer service.

"We know the challenges that firms are up against, grappling with outdated legacy systems that means data is siloed, mismanaged, or incomplete. This can have a detrimental impact on businesses and their customers. Through accurate, accessible and well-governed data, business can unlock real time decision making, future innovation and growth."

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