BAT Software Launches New AI Advice Checking Tool to Revolutionise Compliance
BAT Software, a UK-based leader in FinTech for the UK Advice market, is proud to announce the launch of the latest iteration of the AI File Checking tool: The BAT AI Advice/Suitability Checker.
The first version(BETA) of the tool was launched today and is designed to revolutionise the file review process. By leveraging AI, the tool provides a full analysis of all files, looking at completeness, inconsistency, and now Advice/suitability. The tool provides immediate estimated scoring and AI responses based on highly trained agents, user criteria and industry standards. This will significantly decrease the time required to conduct full file reviews.
Functional overview
Description: Files are uploaded for suitability/advice checking, and the AI delivers real-time results stating whether the file is suitable or unsuitable against the client criteria. These can also be sent via the integration with Intelliflo Office. The tool is an app, and can be remotely applied to other CRM systems.
Technology: BAT has created capabilities within our service that process multiple documents simultaneously. Our AI Model has been trained on industry standards through IFAC, and using multiple AI models allows for full compliance evaluation and scoring, effectively enabling compliance automation.
Key Features
- Compliance-Led Training: BAT AI has been trained by IFAC on thousands of adviser documents, ensuring accuracy and understanding in compliance requirements.
- Predictive Compliance Analytics: The agents produce data that can be used to show compliance trends on a per-user basis and forecast future trends around suitability.
- Template Agnostic: The AI tool allows users to customise data points and question sets, accommodating different file advice checking standards and requirements.
- Comprehensive Coverage: BAT AI can check 100% of adviser files at scale, highlighting errors and omissions and giving overall scoring in under 5 minutes.
- Real-Time Monitoring: The service monitors all advice documents related to files to screen for unsuitable or unclear advice based on user criteria and other customisable factors.
- Compliance Automation: BAT services automate routine compliance checks and where complexity is higher than the confidence of the tool, prompt the user for manual intervention, reducing overall manual effort whilst prioritising resource allocation.
Impact:
“AI is continually having a significant impact in adviser tech globally. As more firms continue to grow their confidence in AI, the barriers will continue to be broken down. The AI File checker is demonstrating incredible value for our users, and this next release will likely be the biggest yet!” said Robert Jones, Head of Business Development at BAT Software.
“Our AI Advice Checking Tool allows users to leverage the power of AI to conduct file checks in minutes rather than hours, and as the tool optimises over the coming weeks, we are well on the way to fully automated file checks. Instant File reviews as opposed to the manual 2-3 hour process, will become the norm.” added Robert
Availability:
The AI Advice Checking Tool is available immediately by booking a demonstration via the contact information below
For more information on the AI Advice Checking Tool or to schedule a demo, please visit www.batsoftware.co.uk