AMP subsidiary SuperConcepts will create a new research and development lab aimed at encouraging customer discussion with advisers around investment decisions and strategies.
The Innovation Lab will bring together specialists with a mix of software development skills and accounting experience working together on customer solutions, SuperConcepts said in a statement.
It said the team will be focused on being able to interpret and understand written text and verbal commands from customers in order to make automated decisions from that information.
SuperConcepts chief technical officer Brad Ackermann said he sees this as critical to improving the accuracy of data, keeping it up to date and being less error prone for fund administrators.
“This work will also give valuable insights into the data to stimulate conversations with accountants around tax compliance and advisers around investment decisions and strategies,” Mr Ackermann said.
“The SuperConcepts Innovation Lab will produce research and development opportunities for a range of prototypes that will be tested, refined and rapidly deployed.”
Mr Ackermann said the investment demonstrated a commitment to customers that software solutions would be a key driver for the company’s strategic direction.
“We think it’s important to invest in an R&D lab with dedicated resources to keep us ahead of evolving tech trends and be able to rapidly respond to customer needs,” he said.
“The SuperConcepts Innovation Lab will work on cutting-edge solutions using artificial intelligence, conversational user interfaces and robotic processes for automating low value tasks to free up resources for fund administrators to better add value to customers.”
Adrian Flores is a deputy editor at Momentum Media, focusing mainly on banking, wealth management and financial services. He has also written for Public Accountant, Accountants Daily and The CEO Magazine.
You can contact him on [email protected].
The company is looking to expand its services for financial advisers.
The FPA has developed a new SOA video toolkit to guide members.
“All advice should be regulated in a similar way”, a financial services firm has argued in its QAR submission.
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.