FutureVault's Digital Vault Platform is known for its
automation, efficiency, security, and digital client experience
capabilities. Now, with AI and Private LLMs, its Digital Vault
Platform is powering the future of financial services and
delivering a new paradigm of value like never before.
Key Highlights:
- Advanced Artificial Intelligence Integration:
FutureVault incorporates private Large Language Models (LLMs) to
enhance its AI-powered Digital Vaults for Enterprises, Advisors,
and Clients.
- Enhanced Document Management: New capabilities include
contextualized summaries of individual and multiple documents
contained within a vault, keyword detection, expiration and
maturity date(s) extraction, actionable insights with automated
workflow.
- Intelligent Document Processing: AI and OCR technology
extracts structured and unstructured data from documents
automatically creating workflow tasks and/or notifications within
FutureVault or other applications in the technology stack (example:
sending tasks to the CRM).
- Actionable Insights: Firms and advisors receive
prioritized insights and key action items from documents generating
reminders and tasks.
- Efficiency Optimization: Proprietary solutions enhance
operational efficiency for enterprises, lines of business, front
office advisors, and clients. This includes Dashboarding and
Reporting capabilities.
TORONTO, Aug. 19,
2024 /PRNewswire/ -- FutureVault, a category and
industry leader of Digital Vaults and pioneers of the Client
Life Management Vault™, announces Artificial Intelligence
capabilities by integrating private Large Language Models (LLMs)
into its Digital Vault Platform. The announcement underscores
FutureVault's commitment to continuous innovation and the
platform's capability to support enterprise front and back office
operations and client-facing collaboration and experiences.
Founded by G Scott Paterson in 2015, FutureVault was
conceptualized with a view that the aggregation of critical
documents when coupled with AI will ultimately change the face of
financial services and advice for the better.
While today's announcement officially highlights the integration
of private Large Language Models (LLMs) in the FutureVault
platform, the company has adopted and introduced Artificial
Intelligence (AI) into the platform as early as 2016. In 2021,
FutureVault was successfully granted its first of many patents from
the United States Patent and Trademark Office (USPTO) for its
AI-driven Auto-Filing capability, a proprietary capability
leveraging Optical Character Recognition (OCR) and Artificial
Intelligence to suggest optimal filing locations for documents.
FutureVault's latest advancements with AI and Private LLMs
afford material value for all constituents and stakeholders.
Enterprise Benefits:
- Back office workflow optimization
- Operational efficiency and time savings
- Enterprise-wide data and information governance
- Accelerate an enterprise wide data strategy without the
expensive, time consuming effort to build traditional corporate
data lakes
Front Office and Advisor Benefits:
- Augment planning and advice delivery
- Improved client servicing and engagement model (affording more
opportunity to engage with the next generation)
- Enabling firms to earn more primary client relationships at
scale
Client and Household Benefits:
- Enabling clients to better understand personal and financial
situations
- Reducing the amount of time facilitating the organization of
critical information
- Offering personal assistants to help organize, structure, and
optimize clients' personal lives
"FutureVault's LLM integration and AI-driven features marks a
pivotal advancement in our quest to offer the best Digital Vault
solution," stated Daniel Kenny,
Chief Executive Officer at FutureVault. "By embedding private LLMs
into our platform, we're empowering users to manage information
more effectively, enabling informed decision-making through
real-time insights derived from the aggregation of documents and
data stored in their Vault. By aggregating documents across all
facets of clients' lives – financial, health, education, etc., the
power of a private LLM to gain a holistic view of a client's
life is powerful and differentiates FutureVault from other
platforms that can only offer a siloed view of a person's situation
based on the limited information they contain."
G. Scott Paterson, Founder and
Executive Chairman at FutureVault, added, "Data within documents
holds immense power, providing rich, contextualized information
central to client and enterprise operations within Digital Vaults.
Our use of AI and private LLMs enables a client-centric experience
and enhances primary client relationships for institutions,
enterprises, and front-office professionals."
FutureVault's current development efforts are pointed to and
remain focused on the contextualization of all documents contained
within individual client Vaults (Last Will, Portfolio Statements,
Insurance Policies, Mortgage Agreements, etc.,) for the benefits of
the Enterprise, Advisors, and Clients. The company is also focused
on building proprietary models to aggregate and converge data (and
documents) across all client Vaults to provide actionable insights
and drive workflow automation for Advisors, Lines of Business, and
Enterprises.
As a consequence of focusing development effort on the
contextualization of documents contained within the private LLMs,
the company's efforts will mitigate and eliminate risks of LLM
hallucinations that often compromise the validity and accuracy of
information.
Book a demo to see FutureVault's platform and AI/LLM
capabilities in action by visiting:
https://www.futurevault.com/ai
To get in touch with FutureVault directly to learn more about
the company, its AI and LLM use cases, and future enhancements for
supporting large institutions and enterprises, please contact
kris.borghesan@futurevaultinc.com.
About FutureVault
FutureVault is a category and industry leader of Digital Vaults,
and pioneers of the Client Life Management
Vault™, providing Platform-as-a-Service solutions for
financial services enterprises, wealth management organizations,
and family offices.
FutureVault's multi-tiered platform is transforming enterprise,
advisor, and client value propositions by significantly improving
the way documents, data, and information are managed within a
secure, audit-ready, single source of truth.
FutureVault's white-labeled platform and mobile applications
help firms meet books and records compliance, improve data privacy,
drive front and back-office efficiency with automation and open
APIs, and deliver an enhanced digital client experience to better
engage with households and the next generation. Powered by
Artificial Intelligence and Large Language Models (LLMs),
FutureVault's platform provides actionable intelligence and
contextualized information across the Enterprise, Lines of
Business, Front Office, and for Clients.
FutureVault is recognized as a 5-star WealthTech provider and a
top 100 most innovative global WealthTech solution provider.
For more information, visit futurevault.com and follow us
on LinkedIn.
Contact:
FutureVault Inc.
Kristian Borghesan, Chief Marketing Officer
416-998-9639 381925@email4pr.com
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SOURCE FutureVault