Fintech business FinoComp has formed a 'complex algorithms team' to analyse data across the financial advice sector to help firms understand their clients and their behaviours better.
The team - dubbed ‘FinCATs' - comprises five "deep mathematicians", three of whom are new hires, who will look at the client data of financial advice firms and platforms. The firm said both types of businesses could use its FinCATs service to analyse their client data for a number of purposes. FinoComp CEO Ray Tubman said platforms, for example, had the biggest sets of data and so, if they were to use the service, they could then assist advisers with the data analysis to help them further understand client behaviours. "It is that sort of evaluated service that platforms compete on," h...
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