Insight : Artificial Intelligence Enhancing Compliance & Productivity
A.I. driven conversion of audio/video to client file-notes, conversation sentiment analysis, keyword validation and action identification will reduce the time and cost of providing quality, compliant advice.
In response to the increasing compliance burden placed on advice businesses, CCUBE has introduced Artificial Intelligence capability to its comprehensive advice platform.
Leveraging one of the world’s leading A.I. engines and machine learning, CCUBE users can now automatically convert audio and video files into text, ensuring a full record of a meeting or conversation is available for audit and compliance purposes. Simply upload the file to the client record and a transcription, including voice identification and attribution will be saved as a file note.
This is an important step toward addressing the legitimate concerns of licensees (and regulators), as BT Financial Group CEO Brad Cooper articulated in his recent SMSFA National Conference address:
“The big issue for us is that the burden of proof falls on the adviser and the importance now of documentation and recordkeeping is clear, It’s not just SoAs, it’s records of phone conversations and a whole range of things.”
CCUBE CEO, Nathan MacPhee added “CCUBE firmly believe the technology should be an enabler, not an inhibitor and this is simply another step in CCUBE’s quest to help advisers strengthen and evolve their businesses.”
Future enhancements to this feature will see the introduction of conversation sentiment analysis, key word and statement validation and task/action identification.
CCUBE is a comprehensive, wealth management solution, providing a breadth of functionality that extends across CRM, workflow, advice strategies, projections, client portal, data feeds and portfolio reporting. Built on a highly configurable platform and emphasising drop and drag capability, CCUBE empowers firms of all persuasion to reduce costs, improve productivity, engage more actively with clients and leverage best of breed solutions.
Insight : Viable Alternative to Xplan has Emerged
The ability to meet increasingly onerous reporting and compliance obligations has been dramatically improved following the launch of CCUBE Integrated Wealth.
The first enterprise grade, comprehensive advice solution to launch in a generation, CCUBE enables licensees and advisers to respond to the numerous challenges facing the financial advice industry and importantly, to capture the opportunities of change.
With the Royal Commission recommendations calling for greater levels of service and fee transparency, CCUBE provides immediate relief through efficient and effective FDS processing, service reconciliation and importantly, a means to meet the likely future service attestation required of customers.
CCUBE CEO Nathan MacPhee noted “Today’s adviser is under regulatory scrutiny that was unimaginable a decade ago. Reporting and compliance are onerous. Margins & time are under material pressure. Meanwhile, technology gives clients expectations of immediate, transparent and two-way availability of information.”
The designers of incumbent software couldn’t have imagined what life would be like for the adviser today. CCUBE isn’t legacy software brought up to date. It’s the result of a bottom-up rethink on what would make an adviser’s life easier.
Nathan explains the design brief for the new software: “Our goals were simple. How can we uncomplicate advisers’ lives and help them transition their business and advice models to one that thrives in a fee-for-service, best interest world? By reducing the time spent on functional tasks, we freed up time to devote to business development and client interactions.”
CCUBE provides a breadth of functionality that extends across CRM, workflow, advice strategies, projections, client portal, data feeds and portfolio reporting. Built on a highly configurable platform and emphasising drop and drag capability, CCUBE empowers firms of all persuasion to reduce costs, improve productivity, engage more actively with clients and leverage best of breed solutions.
Savvy advisers have known – or maybe hoped – that there has to be an easier, better way. CCUBE Integrated Wealth just might be the answer.