Eton Options, a wealth administration platform supplier, has launched EtonAI, a man-made intelligence platform designed to automate back-office processes for household places of work, registered funding advisors (RIAs), and personal fairness corporations.
The brand new platform goals to deal with a niche the place wealth managers, whereas open to utilizing AI for front-office duties like funding analysis, have been slower to undertake it for core operations attributable to considerations over information privateness, safety, and compliance. Eton Options states that EtonAI integrates instantly into wealth managers’ workflows to automate handbook processes, together with invoice funds, month-end reconciliations, and tax processing.
Analysis cited by Eton Options signifies that 91 per cent of wealth managers are presently utilizing or planning to make use of AI for funding technique or asset class analysis. Nevertheless, many back-office features stay reliant on legacy techniques attributable to considerations about information safety in cloud environments.
Eton Options highlighted its current ISO 42001 certification as proof of its platform assembly rigorous privateness, cybersecurity, transparency, and bias requirements.
Platform options and operational automation
EtonAI features as an add-on to Eton Options’ core platform, AtlasFive, which manages over $1.3trillion in belongings throughout greater than 960 corporations. It’s also accessible as a standalone resolution for wealth managers utilizing different techniques.
The platform is designed to automate a variety of duties. In keeping with Eton Options, EtonAI can course of over 250 completely different doc sorts associated to invoice pay, personal fairness, tax paperwork, and buyer onboarding.
For month-end processes, it handles transaction uploads, invoice funds, common ledger coding, market worth reconciliations, and report narrative technology. It additionally assists front-office groups by producing funding theses, automating due diligence responses, and analysing money move projections.
Satyen Patel, government chairman of Eton Options, commented: “Delivering a complete AI resolution to wealth managers is lengthy overdue, regardless of the ample alternative to reimagine and scale their day-to-day workflows. As a result of wealth managers and PEs within the household workplace house are coping with extremely confidential funding and private information, they each concern making the transition to AI – and concern falling behind in the event that they don’t.
“That’s why we took on the daunting process of turning into ISO 42001 licensed. This not solely validates our accountable AI governance however lets our shopper relaxation assured that we’ve constructed belief and transparency instantly into our platform.”
Consumer views on AI adoption and compliance
Shoppers utilizing the platform emphasised the significance of the supplier’s compliance requirements of their determination to undertake AI instruments.
“Eton’s unwavering dedication to excellence in compliance requirements has empowered us to take a extra proactive and progressive method in implementing AI options, enhancing each the standard of our companies and the expertise of our staff,” mentioned Meghan Grayson of Shade Tree Advisors.
“As a result of Eton diligently manages the crucial process of safeguarding our info, we’ve got the arrogance and peace of thoughts to focus on refining our processes and tailoring optimisations to fulfill our distinctive wants.”
Saji Sachchithanantham, chief working officer of Todd Household Workplace, added: “For organisations resembling ours, working with delicate monetary and private information, figuring out that our know-how companion adheres to the very best moral AI requirements is paramount. Eton Options’ ISO 42001 certification supplies us with added confidence that their AI-powered options are usually not solely progressive but in addition constructed on a basis of belief, transparency and strong governance.”
