Aveni.ai has appointed investment heavyweight Colin Clark as chairman of its newly formed board.
The Scottish company made the appointment in the wake of its £2.75 million funding round – led by The TRICAPITAL Syndicate LLP and Par Equity, and supported by Scottish Enterprise – to grow market share in the financial services sector.
Aveni says its conversational intelligence technology is set to drive a new level of speech automation for regulated industries. Its Detect platform uses natural language processing to monitor every customer interaction.
This gives businesses an improved level of understanding of their customers and outcomes, and puts data-driven technology at the heart of their operating model and enables greater regulatory compliance.
Clark’s 40-year executive career in asset and wealth management with S.G. Warburg, Mercury Asset Management and Merrill Lynch culminated in his role as executive director at Standard Life plc.
Since 2018 he has held a number of significant non-executive roles in financial services including chairman of AXA Investment Managers UK, senior independent director at Rathbones Plc and chairman of The Merchants Trust.
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“I have known [CEO] Joseph [Twigg] from his previous investment roles and always been impressed by his energy and desire to find solutions,” said Clark. “I’ve followed Aveni closely since it was founded in 2018, so it was a role I was delighted to accept.
“The business has significant potential for scale and has focused very well so far on bringing in excellent people to develop a product which is truly solutions-focused for the financial services industry and regulatory needs.
“We will continue that as we build the board – identifying the right mix of experience, skill and diverse thinking to help the business thrive and expand.”
Twigg added: “Colin brings the essential mix of executive and non-executive experience which Aveni needs to move to the next phase of its strategic growth. His deeply embedded investment experience, strategic approach and honest insights will be crucial to help us address challenges and challengers, as well as identify new opportunities for market expansion.
“Colin shares our vision to grow a team of the very best people to develop best-in-class technology which addresses real needs to save time and money and enhance customer service. We are excited and proud to have him as our chairman and look forward to working with him to make a real impact.”