Fintel is to give all Simplybiz and threesixty advice firm customers access to AI-powered file checks across every advice case from August.

The group, which owns both compliance service brands, said the system would include human checks as standard, rather than relying solely on automated assessment.

Fintel said it had invested heavily in AI across its software and data business, Defaqto, as well as Simplybiz and threesixty.

The proprietary system draws on Fintel’s work providing compliance support to more than 3,300 directly authorised advice firms and licensing technology to more than 20,000 users.

According to the company, the AI capability has been trained by compliance experts from Simplybiz and threesixty to assess advice quality and identify files that require further human review.

Alex Whitson, chief executive of Fintel Services, said: “This is the first in a series of upgrades and enhancements to our core services for advisers. We believe that AI file-checking alone is not sufficient for robust suitability assessments and compliance oversight – which is consistent with the direction of travel from the regulator and PI insurers.

“This is why we’re giving advisers access to the speed and scale of AI, combined with the judgement, regulatory credibility and contextual understanding of our human experts where required.

“The two together create a mutually enforcing learning loop, which materially improves the quality of output, benefitting advice firms and, crucially, their clients ”

Fintel said the file-checking capability would form part of a wider suite of compliance technology tools being made available to Simplybiz and threesixty customers in the coming months.

Matt Timmins, chief executive of Fintel, added: “AI is part of the fabric and the future of our business. It is the acceleration engine that sits on top of our core proprietary product data sets and our deep knowledge of regulation.

“This is the start of a game changing journey for us and all our customers will benefit from the tens of millions of pounds we are spending to enhance our technology and compliance solutions.

“Our aim is to provide everything advisers need, at scale and within our core service model. We believe in the power of personal and professional advice, augmented by technology and super charged through AI.”