Octopus Money Selects Aveni’s AI Solutions to Enhance Adviser and Coaching team

Aveni.ai, specialists in AI for Financial Services, has agreed a new partnership with Octopus Money – the money advice brand for everyone. 

Following a successful trial, Octopus Money has adopted Aveni Detect and Aveni Assist across its adviser and coaching teams. Octopus Money’s model offers highly personalised 1-to-1 coaching and advice, underpinned by a powerful technology platform. The implementation of Aveni’s AI solutions is focused on enabling customers to receive the best support possible, whilst ensuring the requirements of Consumer Duty compliance are being fully met. 

Aveni Assist – an AI assistant for financial advisers – captures all key information in client meetings to automate note taking, generate information for suitability reports and enable greater personalisation for each interaction.  Aveni Detect automates the quality assurance process, providing 100 per cent coverage of all customers calls, prioritising cases for review, and allowing for a more systematic approach to addressing root issues quickly. 

Paul Titterton, Chief Operating Officer, at Octopus Money, said: “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.

“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.”

Joseph Twigg, CEO, Aveni explains: “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. 

“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.”

With measurable benefits already being captured across the adviser, coaching and quality assurance functions within Octopus Money, the company is now evaluating opportunities to expand and adopt AI solutions more widely across the business.