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 value paradigm 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, ON – August 19, 2024 – 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 of building traditional corporate data lakes

Front Office and Advisor Benefits:

• Augment planning and advice delivery
• Improved client servicing and engagement model (affording more opportunities 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 benefit 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 efforts 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

About FutureVault

FutureVault is a category and industry leader of Digital Vaults, and pioneer 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 Clients.

FutureVault is recognized as a 5-star WealthTech provider and a top 100 most innovative global WealthTech solution provider.