Codepan GmbH

What a day! Codepan GmbH took home "Best in Show" at the inaugural #AIFA24 and England won the Semi-Finals! Could life get any sweeter? We enjoyed some great demos and incredibly interesting talks from Wenyu Bai, FIA, Paul M., and Richard Caldicott. Thanks to Ian McKenna Jason Green, Samantha Smith, and the rest of the team at the Financial Technology Research Centre (FTRC) for putting on such a great day. If you want to book a demo and take a look at how we’re helping Advisers build efficiency through their process, follow this link and we’ll get back to you - https://lnkd.in/dt96WVTK Until next year, we wait with bated breath… can we make it two in a row?

Are you excited about the AIFA event this week? We certainly are! We'll be joined by industry peers, thought leaders, and AI experts on July 10th who will discuss the benefits of implementing AI solutions to enhance efficiency in your practices. With many solutions to consider, we hope that seeing a variety of products on stage will help you make informed decisions. This is our first time on stage, so be sure to check out our presentation and visit us at our stand afterward. Come say hi! Ian McKenna Jason Green

I'm pleased to announce that https://lnkd.in/gHe2Hwx8 from Codepan GmbH, has been included in the tech landscape map by Woven Advice. Re:LOA is designed to assist advisers and their support teams by streamlining the complex task of DB & DC pension transfers. Our explainable AI technology not only saves valuable time but also provides a level of trust and reliability that is essential in this field. It's great to see Re:LOA recognised among other notable tech solutions. We're excited about the future and what we can achieve together. Thanks Nicky Sevel! #TechLandscape #ReLOA #Codepan #WovenAdvice #AI #PensionTransfers #Innovation #TeamWork

💡 Consumer Duty demands that advisers in the UK build better client relationships. Powered by AI solutions, back office systems have the potential to deliver on that promise today. What's slowing down AI adoption? Concerns around data safety, integration and disruption of core processes have advisers thinking twice about how they're handling their AI strategy. Here's how Codepan's Letter of Authority automation solution, ReLoA, delivers when it comes to due diligence for advisers: ✏ Human in the Loop By integrating adviser oversight at critical touch points within the provider data analysis process, ReLoA ensures that client data is captured not only efficiently, but effectively. 🛡 Private Language Models By utilising private language models, sensitive client information remains secure and isolated within a GDPR-compliant ecosystem. 🔎 Hallucination Free Built with Retrieval-augmented generative (RAG) models, ReLoA is trained to avoid generating inaccurate or misleading results. 🔑 A Dedicated Fintech Solution ReLoA isn't just another generic AI tool — it's tailored specifically for the financial advisory industry, fine-tuned to the way advisers want and need to work: www.codepan.com/re-loa #ConsumerDuty #AI #FinancialAdvisers #DataSecurity

🔍 The Dark Side of AI for Financial Advisors The FCA's newest regulatory framework, Consumer Duty, has spurred an automation movement among financial advisers in the UK. It's objective? Streamlining advisers' professional duties so they can focus on serving their clients, instead. But has AI truly been the salvation the industry has wished for since July of last year? 💡 Build or buy When it comes to investing in solutions that help safeguard client interests, advisers face the "build or buy" dilemma. Do they invest in developing in-house tech or do they integrate proven retail solutions for workflow automation, instead? 🏗 The "build" argument Advisers or firms investing in custom solutions for specific processes have seen the results: automation that doesn't bend or break their business processes. But, the investment in building these solutions is very front-loaded, calling for thorough research into AI strategy. 💰 The "buy" argument For advisers or firms looking to set up workflow solutions that do the job without having to invest in an AI strategy, implementing a retail software that fits the job is an appealing option. Both have their pros and cons. While retail solutions promise efficiency gains, they often lack the customisation and flexibility needed to seamlessly integrate into advisers' or firms' existing workflows. On the other hand, custom solutions are expensive to commission and are totally contingent on a practice or firm having a clear AI strategy. 🎯 Bespoke solutions For us, that's where bespoke AI solutions shine. Targeted solutions built with specific pain points in mind can help advisers achieve compliance without compromising their processes or their AI budgets. ReLoA by Codepan targets the Letter of Authority process, enabling advisers to cut down up to 90% of the time they spend analysing provider data before offering advice. Wondering whether you should build or buy at scale? Try a bespoke solution, instead: www.codepan.com/re-loa #AI #FinancialAdvisers #Compliance #Automation

💬 Why is the Letter of Authority process becoming a focal point for automation? Your smartphone has around 120 million times more processing power than that which sent Apollo 11 to the moon. The UK Financial Advisory sector, however, is still suffering through outdated and painful processes that should be automated with #AI. Origo's and the lang cat's report, LoA Process: Just Fix It Already, has drawn the industry's attention to one of its most prominent bottlenecks to better customer service. While data collection remains a core pain point, these woes affect the entire downstream process, too. That's where solutions like ReLoA, which support advisers with data analysis, come in. #FinancialAdvisers #Compliance #Efficiency #Innovation

We're thrilled to announce that our CCO, Gary Abela, will be moderating the Applied AI Stage at the '24 Rise of AI Conference in Berlin! Interested in scalability and growth in the AI industry? Register now: https://lnkd.in/eCK6AfRg

With leading providers adopting Origo's ULoA service, the fintech innovator is proving how advisers can cut up to 50% of the costs associated with manual letter of authority processing. ReLoA by Codepan takes automation in this space to the next level, helping advisers cut costs by saving time on data analysis once their clients' provider data arrives in their inbox.

📊 What has and hasn't worked for advisers seeking Consumer Duty compliance with #AI? With the regulatory framework's new set of rules taking effect for closed products this July, advisers are re-evaluating how they manage their clients' investments. It has many asking where their practices or firms will have to free up time to make it happen. 💡 We believe the answer lies with feature-specific technology targeting the industry's most notorious time wasters, like the the Letter of Authority process. The need for streamlined workflows that free up time to spend with clients has been on advisers' minds since Consumer Duty's release in 2023. So, what have we learned over the past few months in the search for regulatory compliance through tech? ⏳ Time savers Automation: Advisers have found success automating processes that free up time focus on Consumer Duty's tenets of fairness, transparency, and accountability. Deepened analytics: Investing in analytics platforms that reveal a client's financial well-being can help advisers focus on clear communication and personalised advice, instead. ⌛ Time wasters Manual data processing: Reconciling the added workload with established workflows is a challenge for advisers avoiding AI-powered document processing tech, which is less time-consuming and less prone to errors by comparison. Lack of integration: Marrying different software systems into a single workflow is always a pitfall when it comes to implementing emerging technologies. Here, fragmented strategies result in inefficiencies, as advisers spend valuable time navigating between different platforms that may overlap in features. ReLoA by Codepan compiles insights from your clients' data in a Letter of Authority checklist. Our solution reduces the time it takes to analyse provider data by up to 90% in minutes: https://bit.ly/43vulMo #ConsumerDuty #AI #FinancialAdvisers #Compliance #Innovation

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