Principal Consultant at Inspired Testing, Stephen Platten.
In an industry first, Inspired Testing, a global software testing company and Dynamic Technologies group company, built an AI automation pack for a prominent UK-based wealth management firm that is transforming wealth management reporting using intelligent automation.
The project aimed to evaluate, validate and implement AI-driven solutions to automate the creation of client suitability reports – and Inspired Testing was the natural choice.
Stephen Platten, Principal Consultant at Inspired Testing, says, “We were already embedded with the client; we had successfully tested several wealth management tools for them and we’d demonstrated our expertise in using AI to test these tools. We were involved in the proof of concept and compared three competing AI platforms for the client.”
The client had no prior experience in testing or validating AI systems, which made quality assurance for an AI solution challenging for them.
They needed expert guidance to evaluate potential tools, mitigate AI-related risks such as hallucinations and inaccuracies, and establish measurable standards for AI performance. This expertise was provided by Inspired Testing.
Inspired Testing supported a three-month Proof of Concept (POC), evaluating commercial AI-driven financial services tools designed to automate report generation.
Each solution leveraged AI to extract and summarise information from video consultations and then prepopulate the annual suitability reviews (ASR) and client correspondence.
The testing focused on measuring accuracy, recall and F1 scores for AI outputs, assessing hallucination frequency and data integrity, and comparing usability and feature performance between differing AI tools.
Once the best platform was chosen, Inspired Testing supported a six-month pilot phase, applying its proprietary AI Testing Framework and enabling the client to validate and reuse structured metrics for ongoing AI implementations.
“What makes this AI tool unique is its integration with other wealth management platforms,” explains Platten.
“It doesn’t just take information from the client call; it also hooks into relevant wealth management platforms, pulls client records and does a real-time comparison between what’s been said on the call and what’s in the client’s records.”
The benefits to the client were clear. A standardised report output removed the variables that can be caused by differing input prompts or question structures, resulting in increased accuracy, consistency and formatting.
AI presents much better recall as there’s no human variable involved in pulling information from conversations and records.
It is also easier and simpler for practitioners to make the necessary changes or edits to reports compared with the traditional manual process.
It changes the role of practitioners from content generators to content moderators, freeing up their time.
The result is each practitioner saves between 90 and 120 minutes each time they use the new process, which is a huge financial saving for a company with such a large client base.
By enhancing speed, accuracy and compliance, the initiative transformed manual financial reporting into an intelligent AI supported, scalable process.
This advancement positioned the client as an AI-ready financial services leader, setting a foundation for broader innovation and AI transformation.
Introducing AI-driven solutions to clients who don’t have a lot of experience with AI requires a level of education to build trust and acceptance of AI.
Platten says, “We helped educate the client in what AI is and isn’t, and what it can and can’t do. We are clear on what benchmarks it must meet to pass our testing and on the behaviours that we expect from it.”
He adds, “AI is a non-deterministic system – a probability engine, if you prefer. Testing, therefore, cannot be binary; it must evolve into a metric-based assessment. These tests measure outputs such as accuracy, recall, conformity to a standard, confidence with the user and hallucination rate. We also understand the challenges of a coupled system where everything is deeply interconnected. You can’t pull on one thread without disrupting the whole. This means that ultimately your testing must be broader than expected. AI creates a challenge with depth and overall coverage, but by using a metric driven approach we can overcome this.”
By integrating intelligent automation, AI testing and quality assurance, Inspired Testing transformed wealth management reporting for their client.
Their innovative, agile approach to creating tools and solutions makes the company a true leader in a fast-paced, cutting-edge industry.
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Read time: 5 Minutes 42 seconds
Editorial contacts:
On behalf of Dynamic Technologies
Linda Wilkins (Wilkins Ross Communications)
[email protected]
Karin van Blerk
Marketing Manager, Inspired Testing
[email protected]
