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Industry · Financial Services

AI Automation for Australian Financial Services Firms

We build AI systems for Australian financial advisers, mortgage brokers, accounting firms, and wealth managers. Our systems handle client onboarding, fact-find collection, compliance documentation, and client communication — letting advisers spend more time advising and less time on paperwork.

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Why AI in Financial Services right now

Financial services in Australia are more compliance-heavy than almost any other sector. RG 255 on general advice, BID obligations, fact-find records, Statement of Advice prep, FDS/renewal notices — every interaction creates documentation overhead. AI absorbs most of this. The firms deploying AI now are seeing adviser capacity go up 30–50% without adding staff, while actually improving audit trails for ASIC and AFCA scrutiny.

Common problems we solve in Financial Services

Problem

Client onboarding requires chasing 15–20 documents across email and text

How AI solves it

AI client portal requests, receives, and validates documents automatically — sends follow-ups, flags missing items, composes the engagement letter once all data is in.

Problem

Fact-finds are transcribed manually from client meetings

How AI solves it

AI processes meeting audio (with client consent), produces structured fact-find output mapped to your Statement of Advice template, and drafts file notes — adviser reviews and signs off.

Problem

Annual FDS / FDS renewals are a quarter-killing manual project

How AI solves it

AI workflow compiles per-client service records from your CRM/practice management, drafts the FDS document, sends it for client acknowledgement, and tracks responses — turning a 4-week project into a 3-day review cycle.

Problem

Ongoing client communication is inconsistent

How AI solves it

AI drafts client-specific portfolio commentary, market updates, and review prep notes using your house view and each client's actual portfolio — advisers personalise and send.

Real-world use cases

  • Mortgage broking firm: AI processes incoming applications, OCR-extracts payslip and ATO data, populates the credit assessment, and drafts the lender submission — turnaround from 3 days to same-day.
  • Mid-sized accounting practice: AI handles BAS prep workflow end-to-end (source documents in, reconciliation drafted, exceptions queued) — client managers start reviews with 80% of work done.
  • Financial planning firm: AI prepares SOA drafts from fact-find and research inputs, adviser reviews and customises — SOA turnaround cut by ~60%.

Compliance & regulatory context

  • •Australian Financial Services Licence (AFSL) obligations
  • •Corporations Act 2001 — disclosure, best interests duty (BID), conflicts
  • •ASIC Regulatory Guides (RG 175, RG 244, RG 255 etc.)
  • •Anti-Money Laundering and Counter-Terrorism Financing Act 2006
  • •Privacy Act and Australian Privacy Principles
  • •FAAA / CPA / CA professional standards

Services most relevant here

AI Employees

See how we deploy ai employees in financial services businesses.

Process Automation

See how we deploy process automation in financial services businesses.

AI Strategy

See how we deploy ai strategy in financial services businesses.

Frequently Asked Questions — AI in Financial Services

How does AI help with Best Interests Duty and SOA preparation?

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AI accelerates the preparation, not the judgement. For SOA preparation: AI assembles the client's data (fact-find, risk profile, existing portfolio, research), drafts the SOA structure with scoped advice, identifies alternatives considered, and produces the reasoning narrative. The adviser reviews, adjusts, and signs off — the BID decision is explicitly the adviser's, with AI-generated reasoning as supporting evidence. This creates a stronger, more consistent audit trail than manual SOA preparation, not a weaker one.

Is using AI for client data a privacy or compliance risk?

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Only if built wrong. We deploy financial services AI on Australian-hosted infrastructure, use data-processing-agreement-compliant LLM endpoints, and never train on client data. Every workflow has role-based access. Audit trails capture every action. The risk profile is better than the manual alternative because everything is logged — whereas with humans, 80% of decision reasoning lives in someone's head and is unrecoverable for AFCA or ASIC review.

Can AI integrate with Xplan, Midwinter, COIN, Iress, BGL, MYOB AE/AO?

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Yes for all. Xplan, Midwinter, COIN, and Iress all expose APIs (some require vendor coordination). BGL expose APIs for Simple Fund and CAS. MYOB AE/AO, Xero Tax, Class Super all support programmatic access. Where APIs are restricted we work with file-based integrations, email gateways, and RPA for legacy systems.

Will AI lead to ASIC scrutiny?

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Good AI deployment reduces ASIC risk, not increases it. ASIC's Regulatory Guide 255 and the Corporations Act both require evidence of the advice process, not specific tooling. AI that produces a complete audit trail of every step (what was asked, what data was used, what was produced, what the adviser changed, what was finally sent) gives you more evidence than manual advice does. The firms that get into trouble with AI are those who use it as a black box without human sign-off — not the ones who use it properly supervised.

What about AML/CTF obligations?

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AI is genuinely useful here. KYC document verification, PEP screening, sanction list checking, and transaction monitoring are all tasks where AI significantly reduces false positives and speeds up genuine risk flags. We build AML workflows that document every check with reasoning, making AUSTRAC reviews and statutory reports faster to prepare.

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