AdvisoryAI, award-winning AI platform for financial advisers, continues to lead innovation in faster delivery of compliant financial advice, with the launch of Colin, the AI compliance and quality improvement officer.
Comprehensive compliance checking is critical but time consuming and Colin is reported to have delivered in five minutes what a ‘human-only’ approach would take two hours or more to deliver. Faster is great, but Colin is better than fast. This AI does not ‘just’ conduct comprehensive compliance pass/fail file checks. Colin also improves the quality of the end result by recommending remedial action to improve content to better meet FCA regulatory requirements.
Like the best compliance officers, Colin is not just conducting a box ticking exercise. Working with Colin delivers a razor sharp focus on quality improvements with users receiving risk warnings tailored to specific recommendations to improve the quality of reports if, for example, language used is too generic or open to interpretation.
Colin joins the existing team of AdvisoryAI assistants Evie and Emma, working with over 250 Advice firms delivering productivity increases of 90%. Fully trained on FCA and Consumer Duty guidelines, Colin has been developed in collaboration with compliance experts, tested across thousands of real advisory cases, to ensure accuracy.
Alan Guring, CEO and Co-founder of Advisryai comments: “Every hour spent on compliance is an hour Advisers cannot spend with clients. Colin gives that time back whilst actually improving the quality of compliance. This isn’t about replacing human judgement; it’s about amplifying it and closing the advice gap. Colin is a key component in delivering best-in-class advice to more clients, in a fraction of the time it currently takes.”
