FutureVault’s Digital Vault Platform Advances With AI and Private Large Language Models Integration

FutureVault’s Digital Vault Platform is known for its automation, efficiency, security, and digital client experience capabilities. Now, with AI and Private LLMs, its Digital Vault Platform is powering the future of financial services and delivering a new paradigm of value like never before.

Key Highlights:

• Advanced Artificial Intelligence Integration: FutureVault incorporates private Large Language Models (LLMs) to enhance its AI-powered Digital Vaults for Enterprises, Advisors, and Clients.

• Enhanced Document Management: New capabilities include contextualized summaries of individual and multiple documents contained within a vault, keyword detection, expiration and maturity date(s) extraction, actionable insights with automated workflow.

• Intelligent Document Processing: AI and OCR technology extracts structured and unstructured data from documents automatically creating workflow tasks and/or notifications within FutureVault or other applications in the technology stack (example: sending tasks to the CRM).

• Actionable Insights: Firms and advisors receive prioritized insights and key action items from documents generating reminders and tasks.

• Efficiency Optimization: Proprietary solutions enhance operational efficiency for enterprises, lines of business, front office advisors, and clients. This includes Dashboarding and Reporting capabilities.

FutureVault, a category and industry leader of Digital Vaults and pioneers of the Client Life Management Vault™, announces Artificial Intelligence capabilities by integrating private Large Language Models (LLMs) into its Digital Vault Platform. The announcement underscores FutureVault’s commitment to continuous innovation and the platform’s capability to support enterprise front and back office operations and client-facing collaboration and experiences.

Founded by G Scott Paterson in 2015, FutureVault was conceptualized with a view that the aggregation of critical documents when coupled with AI will ultimately change the face of financial services and advice for the better.

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While today’s announcement officially highlights the integration of private Large Language Models (LLMs) in the FutureVault platform, the company has adopted and introduced Artificial Intelligence (AI) into the platform as early as 2016. In 2021, FutureVault was successfully granted its first of many patents from the United States Patent and Trademark Office (USPTO) for its AI-driven Auto-Filing capability, a proprietary capability leveraging Optical Character Recognition (OCR) and Artificial Intelligence to suggest optimal filing locations for documents.

FutureVault’s latest advancements with AI and Private LLMs afford material value for all constituents and stakeholders.

Enterprise Benefits:

• Back office workflow optimization
• Operational efficiency and time savings
• Enterprise-wide data and information governance
• Accelerate an enterprise wide data strategy without the expensive, time consuming effort to build traditional corporate data lakes

Front Office and Advisor Benefits:

• Augment planning and advice delivery
• Improved client servicing and engagement model (affording more opportunity to engage with the next generation)
• Enabling firms to earn more primary client relationships at scale

Client and Household Benefits:

• Enabling clients to better understand personal and financial situations
• Reducing the amount of time facilitating the organization of critical information
• Offering personal assistants to help organize, structure, and optimize clients’ personal lives

“FutureVault’s LLM integration and AI-driven features marks a pivotal advancement in our quest to offer the best Digital Vault solution,” stated Daniel Kenny, Chief Executive Officer at FutureVault. “By embedding private LLMs into our platform, we’re empowering users to manage information more effectively, enabling informed decision-making through real-time insights derived from the aggregation of documents and data stored in their Vault. By aggregating documents across all facets of clients’ lives – financial, health, education, etc., the power of a private LLM to gain a holistic view of a client’s life is powerful and differentiates FutureVault from other platforms that can only offer a siloed view of a person’s situation based on the limited information they contain.”

G. Scott Paterson, Founder and Executive Chairman at FutureVault, added, “Data within documents holds immense power, providing rich, contextualized information central to client and enterprise operations within Digital Vaults. Our use of AI and private LLMs enables a client-centric experience and enhances primary client relationships for institutions, enterprises, and front-office professionals.”

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FutureVault’s current development efforts are pointed to and remain focused on the contextualization of all documents contained within individual client Vaults (Last Will, Portfolio Statements, Insurance Policies, Mortgage Agreements, etc.,) for the benefits of the Enterprise, Advisors, and Clients. The company is also focused on building proprietary models to aggregate and converge data (and documents) across all client Vaults to provide actionable insights and drive workflow automation for Advisors, Lines of Business, and Enterprises.

As a consequence of focusing development effort on the contextualization of documents contained within the private LLMs, the company’s efforts will mitigate and eliminate risks of LLM hallucinations that often compromise the validity and accuracy of information.

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