Our Solution

Our Digital Experts, built on Purple Fabric, automate the extraction of information from ceding provider documents uploaded on the Fluid app, populating the respective fields automatically. This solution leverages AI to streamline the LoA extraction process, significantly reducing processing time and boosting accuracy. By digitally transforming finance operations and workflows, the solution optimizes costs and allows advisors to focus on growing client business.

Key Outcomes

• 90% reduction in time spent reviewing multiple documents and updating system details.
• 5x increase in productivity for paraplanners by automating checklist question responses.
• Near-real-time LoA processing, providing collated information from multiple documents, enhancing efficiency throughout the financial advice journey.

Business Challenge

Independent Financial Advisors (IFAs) and paraplanners face a labor-intensive and time-consuming process when searching for relevant information from various documents provided by ceding providers. Each provider uses different templates, making the task of updating information on the Fluid app cumbersome and inefficient. This manual input process takes approximately an hour per provider, diverting valuable time away from client-focused activities.

URL : https://purplefabric.ai/solutions/loa-details-extractor/