BDO launches AI solution for financial institutions

02 May 2024 1 min. read

BDO Canada has launched an AI-powered solution for financial institutions and their customers – advising on challenges in budgeting, wealth management, and credit worthiness.

BDO unveiled the product last week at the Microsoft Executive AI Summit, where the accountancy walked attendees through an immersive simulation.

"Our AI solution aims to empower financial institutions by delivering a competitive advantage, enhancing customer satisfaction and driving growth and innovation,” said Rishan Lye, National Consulting Leader for BDO Canada. "We're dedicated to providing digital solutions that allow Canadians to invest in their future, while navigating the complexities of their finances."

The solution’s wealth management AI assistant supports customers on investment planning, including risk profile and portfolio breakdown, as well as on estate and retirement planning. The assistant also offers personalized financial advice.

BDO launches AI solution for financial institutions

The financial budgeting and planning AI assistant advises on savings goals, budget allocation by activity, and expense tracking, as well as providing personalized recommendations to improve savings. 

Finally, the credit worthiness AI assistant advises on debt consolidation and optimization, credit impact assessments, holistic credit score generation, and credit score improvement.

BDO’s digital division provides services across digital strategy, application development, cloud, data and AI, modern workplace, and cybersecurity.

The firm has more than 5,000 professionals nationwide delivering services in audit, tax, and consulting.