Intellect Design Arena said that its insurtech business Intellect SEEC has been selected by UK-based St. James’s Place (SJP) Wealth Management as the strategic artificial intelligence (AI) transformation partner for its investment unit.

St. James’s Place is one of the major wealth management organisations in the UK. It offers advice to clients based on their individual requirements and circumstances, adapting the advice as per the change in requirements over time.

Banesh Prabhu – Intellect Design Arena said: “Intellect has been a preferred technology partner with SJP in many significant transformational initiatives, having implemented several new digital technologies over the last 14 years. This selection illustrates the strength and trust in that partnership, to select Intellect for their ambitious AI/ML transformation in their Investment division.

“Intellect’s expertise in this area gives us a strong edge over other competitors as we offer a complete range of technology, data skills and AI, with Machine Learning capabilities that will lead to significant business performance outcomes.”

St. James’s Place’s investment division is working on developing an intelligent investment hub which will leverage AI and machine learning. It will be built on top of the company’s investment data hub, which is already being developed with support from Intellect Design Arena on Snowflake using Matillion.

The hub is anticipated to deal with intelligence pertaining to fund performance, reactions/sentiments of analysts, automated fund comparison and commentary, auto-generation of fund fact sheets and also ESG intelligence, which includes climate change response, carbon emissions and responsible investments.

James May – St. James’s Place Investment Technology Director said: “SJP is looking forward to working closely with Intellect on the development and implementation of the core Investment technology ecosystem that will be powered by trusted data and leveraged using innovative AI, ML and automation technologies.”

Last month, Intellect Design Arena’s transaction banking unit – Intellect Global Transaction Banking (iGTB) was chosen by Canadian Western Bank (CWB) to enhance its payments service technology for business owners.

  artificial intelligence, Banesh Prabhu, Intellect Design Arena, James May, machine learning, St. James’s Place Wealth Management, United Kingdom, Wealth management