Octopus Money has announced a partnership with Aveni, a leading developer of AI-driven solutions for the financial services sector.
This collaboration aims to enhance the personalisation and efficiency of financial advice through advanced AI tools.
The partnership was formed to integrate Aveni’s AI technology, including Aveni Detect and Aveni Assist, into Octopus Money’s operations. These tools are designed to improve the delivery of financial advice by automating administrative tasks and enhancing customer interaction.
Octopus Money provides personalised one-to-one financial coaching and advice, supported by a robust technology platform. The company focuses on making financial advice accessible and tailored to individual needs. Aveni, on the other hand, specializes in creating AI solutions that automate note-taking, generate data for reports, and ensure high standards of compliance and customer service.
The implementation of Aveni’s AI solutions in Octopus Money’s processes aims to allow for better support and compliance with Consumer Duty regulations. Aveni Assist helps in automating note-taking and generating necessary documentation, while Aveni Detect oversees quality assurance by covering 100% of customer interactions and prioritizing review processes.
The partnership also highlights a successful trial phase where the benefits of AI integration were clearly demonstrated, encouraging a full-scale implementation. This initiative reflects a strategic move to address administrative burdens and enhance the scalability of financial advice.
Octopus Money’s chief operating officer, Paul Titterton, expressed enthusiasm about the collaboration, “At Octopus Money, we’re always looking for ways to ensure every customer gets the money support they need—not just the wealthiest few. Administrative burdens, which have been heightened by new Consumer Duty Rules, can make it harder for advisers to serve clients of all asset sizes. This is exactly why we’re thrilled to be partnering with Aveni. Its AI Assist tool is helping us digitise and streamline our customer call reviews, ensuring we maintain the highest standards while reducing the time spent on manual processes.”
Joseph Twigg, CEO of Aveni, also shared, “Octopus Money’s continuously innovative use of technology to enhance the human experience reflects the huge potential afforded by the right AI solutions. With a very focused financial advice and coaching model, it is important that the tools can be maximised to deliver exactly what teams need to support their customers best.”
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