7IM launches strategic AI partnership with leading AI firm Aveni to introduce transformational technologies to support client-centric growth
Aveni.ai, the AI fintech business, has been selected by the client-centric, technology-driven wealth and investment management business 7IM as a strategic AI partner. The firm plans to leverage the technology as it accelerates growth following Ontario Teachers’ Pension Plan’s recent agreement to invest in 7IM.
7IM prioritises technology investment as fundamental to operational efficiency and enhanced client experience. The firm is committed to innovation and AI is central to business transformation and scalable growth.
7IM will deploy Aveni’s Generative AI and Natural Language Processing (NLP)-based technology platform to boost productivity of its financial advisers and wealth managers, and further strengthen its risk assurance capabilities.
The adoption of the latest advances in generative AI, NLP and large language models will allow 7IM to fully harness the power of AI-technology to build a highly scalable operating platform, whilst providing unparalleled risk management and oversight. This is supportive of the FCA’s “data-first” approach, and in line with the FCA’s Consumer Duty regulations.
The AI-partnership will also see both firms collaborating on commercial opportunities to expand the application of AI technologies both within 7IM and across the broader asset and wealth management industry.
Jana Sivananthan, Chief Risk Officer at 7IM commented, “7IM is a business that has a long history of putting its clients first by staying at the forefront of technological innovation. This approach is reflected in the choice to partner with Aveni for strategic AI adoption.”
“The recent announcement of Ontario Teachers’ intended acquisition of 7IM underlines our leading position in the UK asset and wealth management sector, and creates an exciting opportunity to invest in further business transformation and scale significantly. Fundamental to that is a highly scalable operating platform and data-first approach to managing risk. We have chosen Aveni as a partner that can help us achieve that.”
Andy Johnston, Aveni explains, “We’re in the initial phase of a technology revolution that will fundamentally change the industry over the next decade. This strategic partnership enables 7IM to deploy Aveni’s market leading AI-driven Client and Compliance tools, whilst working together to achieve transformational efficiencies across the whole value chain.