Intiger Group Limited (ASX: IAM) reports it is undertaking testing of its BOOM2 back office management software.
The software will increase the range of tasks and Statements of Advice that are delivered to its customers using software robotics1 (robotics) and including a component of Artificial Intelligence2 (AI).
Intiger Managing Director Mark Fisher said existing and potential practice and licensee clients have been engaged with Intiger in testing BOOM2 over the last two months.
The first release of BOOM2 with selected clients is scheduled for the week commencing 27th November with a phased rollout occurring thereafter & on a client-by-client basis.
“When released, BOOM2 will significantly reduce the amount of human involvement in the capture of client data and the preparation of compliant Statements of Advice. Over time the range of advice scenarios can and will be expanded to continue on this pathway.
BOOM2 is an integration of previous Intiger software products LiLLY, KLiP & BOOM and has been developed with input from the financial planning industry.
Using robotics, AI and scalable financial planning software, the vompany adds value by helping financial planners use technology to change from the current, highly manual process of producing advice to faster and more robust compliant delivery.
BOOM2 continues the company’s work in financial services software development and amalgamates and draws upon previous releases (KLiP, LiLLY, BOOM) to reduce the reliance on human processing, thus increasing margins and reducing compliance risks for customers. The software can now be applied to the majority of financial planning tasks ensuring increased profitability for both the Company and our clients.
“The work we are doing in the field of Artificial Intelligence and robotics and its applications to financial planning will continue to improve profitability and efficiency for practices and planners all over Australia,” Mr Fisher said.