The top 5 things financial services CROs are prioritising
As the financial services industry continues to evolve, risk and compliance functions are facing unique challenges. At the forefront of this evolution, Chief Risk Officers (CROs) are working tirelessly to ensure that their organisations remain compliant with regulatory requirements while also protecting customers and stakeholders. We’re in constant dialogue with many risk and compliance leaders […]
Auto QA – the key to compliance and risk reduction
We’re all aware that Quality Assurance is a critical aspect of managing risk in the financial services industry. Without it, firms would have no idea if they were adhering to regulatory requirements. However, with tightening regulatory requirements, manual QA just doesn’t cut it anymore. It has low levels of efficiency, coverage and accuracy, and limited […]
5 top RegTech trends Chief Risk Officers need to be on top of in 2023
As we progress into the new year, it’s important for Chief Risk Officers (CROs) to keep an eye on the latest RegTech trends. By adopting the right technologies, CROs can ensure that their organisation is well-equipped to identify, assess, and manage potential risks and maintain regulatory compliance. The financial industry is going through a process […]
A quick history of Natural Language Processing
Natural Language Processing (NLP) is a field of artificial intelligence that involves the use of algorithms, statistical models, and other techniques to analyse, understand, and generate human language. NLP has a wide range of applications within the financial services industry including risk management, sentiment analysis, and regulatory compliance. This technology is a powerful tool that […]
Aveni’s 2022 Consumer Duty Resources
As the year comes to an end, it’s a good time to reflect on the events of the past 12 months, both the good and the not-so-good. For both the Financial Services industry and Aveni, it’s been a year of growth and resilience, with Consumer Duty as a key focus of our journey. We’ve been […]
Aveni Detect now available on Genesys AppFoundry to transform Consumer Duty compliance
Aveni Detect is now available on the Genesys AppFoundry ™, a marketplace of solutions offering a curated selection of applications and integrations that elevate customer and employee experiences. Developed as a ‘Machine Line of Defence,’ our platform, Aveni Detect, analyses all customer interactions and mitigates against a range of risks from conduct and complaints […]
CRO Consumer Duty survey findings: Consumer Outcomes not prioritised?
We conducted a consumer duty survey to fully understand the preparedness of CRO and Senior Risk and Compliance Executives for the Consumer Duty, what activities they are prioritising to meet tightening regulations and ensure good customer outcomes, and the key challenges they are facing. 67% of CROs say less than 20% of the board or executive […]
CRO Consumer Duty survey findings: Customers at the heart of your business? Now is the time to prove it.
We surveyed +80 Senior Compliance and Risk Officers from across the UK’s Financial Services sector to find out their top priorities and investment plans for Consumer Duty and how they’ll meet the tightening data-driven expectations of the FCA. See full results here. Survey says 3 out of 4 (67%) financial services executives do not […]
Aveni’s end of the year Reunion!
Aveni works at the forefront of innovation in AI and Natural Language Processing, providing quality assurance and regulatory compliance solutions for financial services and utilities companies in the UK. However, that’s not all we get up to. Occasionally, we hop on planes and trains to catch up in person, have fun, celebrate personal and company […]
Adoption of machine learning and data driven technologies at the heart of human centred advice
This is an excerpt from our Human+ whitepaper. Download here for full details about how data driven technologies can power human centred advice. The recent acceleration in digitisation of financial advice combined with advances in Natural Language Processing (NLP) have opened the door to a new paradigm of automation for the advice industry. Currently, this […]
AI: Why an executive understanding is so important’ – 5 key takeaways from Aveni Labs webinar
Data-driven technologies underpinned by rapidly evolving AI, are set to be placed at the heart of firms’ operating models. It emphasises the need for Financial Services Executives to have a clear understanding of AI, and how they can be embedded in their company processes. As an executive or board member responsible for AI investment decisions, […]
The FCA emphasises the importance of recording customer calls to meet Consumer Duty requirements
In the FCA’s recent Consumer Duty Retail Lending webinar, Jonathan Phelan, Head of Department, Consumer Finance at the FCA urged firms to record customer interactions as a critical step in being able to monitor and evidence customer understanding – a key part of the Consumer Duty measures. He explains, “…I’d put the next one […]
