Tech

Aveni AI Platform to Support Compliance with UK Consumer Tax Regulations

British regtech company Aveni.ai has pledged to help financial services firms meet new consumer tax regulations by developing an innovative Aveni Detect product.

Its AI platform utilizes the latest advances in natural language processing (NLP) to monitor all customer interactions and generate data-driven evidence of compliance with the new Financial Conduct Authority (FCA) legislation. .

Developed as a “machine line of defense,” the Aveni Detect platform analyzes every customer interaction to mitigate risks ranging from behavior and complaints to customer vulnerabilities. This high level of risk insight becomes essential to meet the data-intensive demands of consumer obligations. AI-enabled technology enables companies to better understand their customers and outcomes, putting data-driven technology at the heart of their operating model.

In addition to complying with consumer obligations, Aveni Detect helps companies transform the efficiency and automation of their customer operations, while using feedback to inform product and service development and to coach staff. Improve the customer experience by enhancing the experience. The platform also provides actionable consumer obligation results on training effectiveness, testing of results, data-driven thematic reviews, and complaint handling ranging from enhanced administrative information.

Aveni CEO Joseph Twigg explains: For many boards, this shift beyond pure operating profit, growth and margin measurements may be outside their comfort zone, but there is a need to successfully apply technology.

“Consumer obligations are a game changer as the FCA moves to data-first oversight and fundamentally changes expectations for quality and risk assurance. Processes need to be adapted, it’s not practical to have a do-nothing, indefinite human resource, and the future of compliance will require the adoption of advanced technology solutions such as Aveni Detect.

“Using state-of-the-art machine learning and NLP techniques, our platform can be rapidly customized to the requirements of specific companies. , has made available the output of highly sophisticated machine learning that allows companies to achieve 100% quality assurance coverage, triage high-risk cases for human review, and reduce regulatory risk and It can transform the management of reputational risk.”

In June, Aveni announced a £2.75 million investment to expand the Aveni Detect platform and grow its team across the UK financial services and utilities market. The funding round was led by The TRICAPITAL Syndicate LLP and Par Equity was backed by Scottish Enterprise.

Aveni AI Platform to Support Compliance with UK Consumer Tax Regulations

Source link Aveni AI Platform to Support Compliance with UK Consumer Tax Regulations

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