AI in Financial Services: A Game-Changer for the Industry


Written by Finalis

Last edited on Sep 11, 2023

2 min read

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Never before has the concept of “in with the new” been more applicable to the broker-dealer than it is today. The artificial intelligence (AI) technology revolution is not a distant and far-off hypothetical, it is here and has been for the last couple of decades. Implementation of AI in the world of securities, either through advanced machine learning, robo-advising, big data and natural language processing have carved and cemented the respectability of AI in the financial services industry.

Establishing AI-based applications have shaped the way for more efficient model risk management, data governance, customer privacy and supervisory control systems. According to the Financial Industry Regulatory Authority (FINRA) there are three major takeaways that broker-dealers should consider about the merging of AI and the securities industry:

1. AI is already here.

2. AI is more than digitization, it is a digitized revolution.

3. Broker-dealers will inevitably become dependent on AI.

Yes, there are many factors to consider when choosing a broker dealer: their customer attentiveness, good standing with FINRA, other registered representatives or word of mouth, but ultimately speed, security, and effectiveness are major themes that the traditional brokerages will soon fail to respond to.

Why? The answer is simply, AI improves the equation.

Regardless of what the securities industry may want to currently admit, AI cleans up systems.

As Manuel Amaro from Houlihan Lokey has said, “Finalis is the solution that many of us in the investment banking industry have been asking for. Its fully-integrated broker-dealer and deal flow technology platform is a game-changer and will be a positive force for the industry in the years to come.” 

Tech-enabled broker-dealer platforms are taking the industry by storm for a reason, and it’s because the industry recognizes AI as the natural next step in its evolution.

Same day response times, streamlined and centralized tools, digitized templates, real-time support — it is no wonder AI is bound to take the securities industry by storm.

Interested in leveraging AI into your deal flow? Get in touch with our team to learn more.

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