Octopus Money has partnered with Aveni as it seeks to “revolutionise” financial advice, using artificial intelligence.
It comes after Octopus trialed the Edinburgh company’s Aveni Detect and Aveni Assist across its operations to improve its financial advice.
“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,” said Joseph Twigg, CEO of Aveni.
“The increased emphasis from the FCA on targeted support and delivering better outcomes for customers is a fundamental benefit of AI, through improved data gathering for greater personalisation, vulnerability detection, and reducing admin to increase client time. Octopus Money is an innovator with an ambition to transform the advice model, and we are really proud to be working alongside them as they scale.”
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Aveni Assist is an AI assistant for financial advisers, capturing key information in client meetings to automate note-taking, generate information for suitability reports, and enable greater personalisation for each interaction.
The Aveni Detect system automates the quality assurance process, “providing 100% customer call coverage,” prioritising cases for review, and allowing for a more systematic approach to addressing root issues quickly.
“At Octopus Money, we’re always looking for ways to ensure every customer gets the money support they need—not just the wealthiest few,” explained Paul Titterton, Chief Operating Officer at Octopus Money.
“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.
“By embracing AI-driven solutions, we can spend more time doing what we do best: supporting our customers and closing the advice gap. We believe money advice has the power to evolve to meet regulatory requirements while remaining inclusive and scalable. This kind of forward-thinking approach is what will ensure the long-term sustainability of financial advice for all.”
