Aveni is an Edinburgh-based RegTech company leading a new era of Risk Assurance by enabling 100% digitisation and automation of Quality Assurance processes for Financial Services firms. Using the latest advances in AI, we analyse every customer interaction driving enhanced data insights, comprehensive risk oversight and process automation.
As regulatory controls tighten becoming more data-driven, clients are turning to Aveni as a ‘Machine Line of Defence’, to systematically identify and understand risks that matter to them. In addition to effective preventative control, and richer data analytics, we help companies achieve greater productivity, oversight, agent performance and revenue growth, making QA processes significantly faster and scaling oversight from 1% to 100%.
With Aveni Detect, financial services firms can:
- Reduce risk. Ensure comprehensive preventative control and protect company reputation by providing systematic evidence for the regulator via increased coverage.
- Manage their consumer duty. Put the customer at the heart of their business operations, ensure that every customer has the outcome they deserve.
- Enhance productivity. Significantly improve QA efficiency with machine assessment and automatic triage a firm’s highest risk interactions. It means human assessors can focus on the riskiest calls leading to faster remedial action.
- Boost agent performance. Machine-driven, self-serve insights feed directly back to agents powering more engaging coaching and learning opportunities to boost performance at scale.
- Get up and running quickly with a solution that’s quick and simple to implement and trained on company-specific data to solve its unique challenges.
Intelligent Auto QA
Aveni is the only speech-driven solution on the market that focuses exclusively on machine automation of the QA process using a company’s specific QA forms and terminology to ensure the proposition is tailored to their risk and compliance requirements.
Quality assurance can be both costly and inefficient with most large organisations covering just 1-2% of their customer interactions. Aveni Detect introduces AI-driven automation at all stages of the QA workflow, significantly reducing the time taken for each assessment whilst ensuring that effort is spent on the highest value interactions.
- Machine assessment of 100% of calls. Aveni Detect can assess every call or interaction using our NLP pipeline to identify dozens of insightful metrics.
- Automatic selection. Our unique selection algorithm automatically allocates calls to the QA team for human assessment, based on customer experience, agent performance and risk.
- Rapid navigation. Aveni Detect presents all call attributes in a navigation workflow to support efficient assessment.
A ‘Machine Line of Defence’ for Consumer Duty compliance
Aveni Detect allows firms to meet Consumer Duty requirements and transform the way they recognise, record and respond to vulnerable customers with a ‘Machine Line of Defence’.
Drive efficiency and achieve 100% coverage
Monitor and analyse every customer interactions and significantly improve QA efficiency with machine assessment and automatic triage highest risk interactions. It means human assessors can focus on the riskiest calls leading to faster remedial action.
Improve complaints handling
Automatically identify, flag and triage highest risk calls for assessment. Capture all complaints and expressions of dissatisfaction, understand the reasons behind them and provide actionable outcomes and evidence for remedial activity.
Drive consumers insight
Get to know customers better. Understand their preferences and what leads to the best outcomes for them.
Data-first evidence for regulator
Provide quantitative evidence for the regulator and demonstrate improved understanding of customer outcomes, the factors that affect them over time and what remedial action has been taken.
Enhanced executive oversight
Access a Board-level Consumer Duty dashboard demonstrating how the firm is monitoring and handling important aspects of the customer journey to ensure the best customer outcomes.
Aveni has embedded the FCA’s guidance on the Fair Treatment of Vulnerable Customers into its platform. We monitor and flag potential customer vulnerabilities according to the FCA’s categories, providing firms with a better understanding of how vulnerable customer requirements change over time driving service and product improvements.
Boost Agent Understanding
Aveni Detect helps firms build higher performing teams by better understanding what the gold standard looks like, giving richer insights into agent performance and offering more meaningful coaching opportunities.
Our coaching algorithm assesses every call taken by an agent, automatically selects calls with the best training opportunities and presents those to the supervisor, for a frictionless coaching experience.
Understand best in class
We ensure firms can accurately determine the skill in skilful conversations using metrics around sentiment, knowledge gaps, hold reasons, overlaps and pauses, speaking time, clarity, empathy and language.
Deliver a better client experience
Higher performing teams result in more motivated staff, better business performance and increased satisfaction amongst clients.
Aveni.ai was founded in June 2018 when Dr Lexi Birch, one of the leading experts in NLP, was introduced to top financial industry executive, Joseph Twigg. The mission they developed together was clear: to deploy cutting edge AI practices in industry to solve real problems.
Following extensive research, they chose Financial Advice as their target market – an industry well known for its outdated processes, constant regulatory changes and underserved demand.
Since then, the team has grown, we’ve won Scotland’s leading startup competition – Scottish Edge – received recognition via the The Times Future of Fintech awards and Beauhurst’s Top 15 AI Startups, and secured £2.75M in funding in June 2022 to expand our team and make further enhancements to our platform. We’re proud to be part of Scotland’s vibrant startup ecosystem and the journey is just beginning…
Joseph Twigg – CEO
Joseph has 15 years’ experience in the Investment industry, most recently serving as the Global Head of Strategy and Business Management for the UK’s largest asset manager.
Dr Lexi Birch, Head of Aveni Labs
Dr Lexi Birch is a Senior Research Fellow at the University of Edinburgh. Ranked in the top 100 NLP Engineers globally, she is an expert in NLP and Neural Machine Translation (NMT).
Dr Barry Haddow, Head NLP
Dr Barry Haddow is a Senior Research Fellow at the University of Edinburgh. Ranked in the top 100 NLP Engineers globally, he is an expert in information extraction and machine translation.
Jamie Hunter, COO
Jamie brings 15 years’ experience in the investment industry, most recently serving as the Head of Commercial Finance for Standard Life Aberdeen.