AI solution to help solve critical challenges for financial institutions and their customers – from budgeting and planning to wealth management and credit worthiness
Toronto, Canada – Today BDO Canada announced its newly created AI solution for financial institutions and their clients. Leveraging AI and machine learning, this technology offers tailor-made services in wealth management, credit worthiness, and financial budgeting and planning.
BDO Digital’s AI solution comes at a time when financial institutions are grappling with the need for innovative solutions to support client needs during one of the largest inter-generational wealth transfers and when consumer debt is reaching record highs.
"Our AI solution aims to empower financial institutions by delivering a competitive advantage, enhancing customer satisfaction and driving growth and innovation,” says Rishan Lye, National Consulting Leader for BDO Canada.
The new solution debuted today at the Microsoft Executive AI Summit where the BDO team walked attendees through an immersive simulation.
Through this solution, financial institutions and their clients will gain access to an array of services personalized and tailored to support their unique financial goals, including:
Wealth Management AI Assistant
- Investment planning (goals, risk profile, portfolio breakdown)
- Personalized financial advice (e.g., portfolio optimization, annual contributions)
- Estate planning (beneficiaries, assets distribution)
- Mortgage/Children/Retirement Planning
Financial Budgeting & Planning AI Assistant
- Customer/household 360 view (family, roommates)
- Setting saving goals/budget allocation by activity/tracking expenses (e.g., health, travel, utilities)
- Personalized recommendations/products to improve savings
Credit Worthiness AI Assistant
- Implications for decisions (e.g., mortgage, student loans, automobile financing)
- Debt consolidation/optimization
- Personalized insurance products/premiums
- Credit impact assessment/weighting
- Generate a holistic credit score
- Advice on how to improve credit score
As the industry shifts towards embracing disruptive technologies, BDO Canada remains at the forefront of innovation, delivering cutting-edge solutions. In collaboration with financial institutions, their immersive AI experience seeks to redefine the way the industry operates and engages with their customers.
BDO has a longstanding presence in the financial sector, serving over 10,000 clients with a comprehensive range of services. BDO Digital stands as a trusted advisor for financial institutions seeking to navigate the evolving landscape of the financial services industry.
Learn more about how BDO can help you reimagine your business
About BDO Canada
BDO Canada LLP is a leading provider of professional services to clients across a variety of sectors and segments. For over 100 years, our team has served communities across Canada through a comprehensive range of assurance, tax, and consulting services, complemented by deep industry knowledge. With over 5,000 people across 100 offices in Canada, and more than 1,800 offices in 164 countries, BDO is well-positioned to assist clients with both domestic and global needs.
BDO Canada LLP, a Canadian limited liability partnership, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO member Firms. For more information, visit: www.bdo.ca
For further information: Tara MacPherson, Proof Strategies for BDO Canada, [email protected], (905) 870-1771