Fintech startup Aveni, a firm which is helping advisers plug the gaps exposed by the incoming consumer duty, has landed £2.75mn. Led by a handful of Scottish investors, the new funding will fuel the firm’s efforts to disseminate its product further across the UK advice market. It adds to a further £1.7mn the firm has already raised. The 30-person team, which is half based in London and half in Edinburgh, helps advice firm’s executives understand the risks they are running from a consumer perspective. Using artificial intelligence, it can detect vulnerable customers by extracting information from client calls and automatically checking for signs of vulnerability.? Advice firms can access the results of these checks, which also flag expressions of dissatisfaction and conduct issues with advisers, via a dashboard. "The FCA is switching from people and process-first to a data-first regime. It's saying ‘don’t tell me, show me’." said Joseph Twigg, CEO of Aveni. Read the full FTAdviser article through the link in the comments below. ?? #donedeal #funding #fundinground #fintech #ai #artificialintelligence #fintechnews #financialtechnology #financialservices
Link to full article: https://www.ftadviser.com/your-industry/2022/06/21/fintech-helping-advisers-fulfil-consumer-duty-lands-2-75mn/?utm_campaign Link to my newsletter: https://marcelvanoost.com/newsletter