BAT -AI – USE AI TO SORT YOUR FILES
BAT uses AI to auto-score files as complete and prepares them ready for review
Eliminate unclear files!
- BAT AI reads the underlying text in a bundle of documents, categorises them and weeds out UNCLEAR files at point of sale, using a traffic light system.
- BAT AI gives advisers a clear traffic light system for filing.
- Now the file checker has only to make a binary choice: suitable, or unsuitable?
- No more time spent marking files as “unclear.”
BAT-AI MECHANICS
BAT extracts the data and scores it complete or incomplete.
The system has been trained on past and present adviser files submitted and assessed by IFAC.
Several thousand complete client files per annum are sent in each year, from one of the biggest file checker firms in the UK.
USE CASE
All adviser files are graded by compliance into three categories – Suitable, unsuitable or unclear.
Twenty two percent of files submitted to the FCA breach COBS 9.2 as being unclear. Source https://www.fca.org.uk/publication/thematic-reviews/tr24-1.pdf
A quarter of all file checker time is also spent sifting through unstructured and unclear files for completeness.
Practice managers will know how advisers forget to upload relevant documents required for client file checking.
WHY BAT-AI
BAT has more data than anyone else, because our client networks and compliance firms check several thousand client files each year using BAT
The system has been trained on past and present client files submitted and assessed for compliance by BAT user firms.
The system continues to be trained on this data, and accuracy is currently scored at 95%.
The access to the work of compliance firm IFAC and their opinions and training on this product has been critical to BAT.
THE FUTURE
BAT will check underlying documents for suitable/unsuitable by Q1 2025.
This is a point of sale tool, and will change your compliance department by moving it to the front office.
THE ADVANTAGES OF BAT AI
PART 1 RISK
BAT AI does not get tired nor sleep – key advantage over staff
BAT AI will work at point of sale POS (point of sale means adviser-upload)
BAT AI is consistent and trained to act without bias
BAT AI will check 100% of files, not just the typical 10%-20% sample.
BAT AI checks in advance of file submission, not in arrears.
BAT AI will bring the average unclear rate of 22% to nil at POS.
PART 2 COST
BAT AI saves 20 minutes per file for every file checker.
BAT AI say the cost saving from the above is £15k per annum per file checker.
BAT AI saves 10 minutes per file per RI.
Book a Demo
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This demo will showcase the key functionalities of BAT Compliance Manager and BAT CRM-PRO or CRM-Lite.
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