Mallowstreet launches AI tool built for wealth, asset managers to analyse meetings

Mallowstreet has officially launched ‘SOFI’ an AI tool built for wealth and asset managers, to analyse and enhance what happens in meetings.

Developed over three years using thousands of hours of industry-specific data, ‘SOFI’ helps clients save time, check messaging, improve delivery, monitor performance, capture questions – and understands your industry, mallowstreet said in a statement on 27 September.

The  B-Corp financial services business  said "SOFI represents a major advancement of mallowstreet’s ongoing mission, to solve the most challenging problems facing the pensions sector".

SOFI is part of the business’s new suite of products that apply the power of Machine Learning technologies and AI.

At its core, SOFI analyses a meeting and generates a comprehensive array of metrics, applying six lenses – risk, return, liquidity, time horizon, portfolio fit and ESG – to conversations, showing where a presentation landed on each of these. Beyond this core functionality, it has many more applications which allow firms to access benefits far beyond efficiency and at-a-glance meeting metrics.

For example, users can even ask SOFI bespoke queries and receive instant feedback based on the tool’s attuned interpretation of the conversation.

Stuart Breyer, CEO of mallowstreet, said: “Today, everyone seems to be talking about applying AI to business, but the real ‘use cases’ remain scarce for many businesses. There are two key things to consider when thinking about incorporating AI into your business:

"Firstly, ask yourself what problem you want to solve – and be specific. Identify the pain point in your business process that is repetitive, time consuming, and doesn’t add value. Secondly, look at whether technology could actually help you to crack the problem you want to solve?
It seems like time is the one thing that everyone wishes they had more of. More time to spend with family and friends. A few more hours to finish that report or tackle that project that keeps getting pushed aside. More time to think. More time to connect the dots.

"We built SOFI to help with this, using meeting efficiency as our specific ‘use case.’ We all have meetings, and all have a lot of them. The follow-up from meetings can be time-consuming at best (and painful at worst), and I think everyone can agree we attend meetings that we probably didn’t need to go to.”

SOFI works by automatically producing meeting summaries for the user, identifying the key points of the discussion, flagging action points, noting questions and answers, and even generating the minutes if you need them. This application of technology takes the ‘heavy lift’ out of meeting follow-up, and, crucially, allows meeting participants to remain fully engaged, without having to work to capture copious amounts of notes.

However, what makes SOFI truly different is the way that mallowstreet has calibrated its models. Using thousands of hours of industry-specific data, over the past three years mallowstreet has built its models to understand the conversations taking place within the financial services industry every day.

Because SOFI understands the broader context of financial services, the output is highly accurate and can interpret the discussion – for all stakeholders.

Breyer added: “What continues to blow my mind about AI is not just the power and speed of innovation, but how AI will transform the way we work and interact with clients. However, it’s essential to note that one AI solution isn’t going to solve every problem.
SOFI was specifically designed to analyse what happens in a meeting, surface the gold dust of a conversation, save time, check messaging, improve delivery, monitor performance and capture questions. So, when we built SOFI, we specifically wanted to improve the quality of the output from a meeting, understand how we could create efficiencies, and compare performance to help drive incremental improvements across an organisation.

"10-months since its inception, we have updated the tool 25 times. Having started off processing 20-meetings per month in January, we have now onboarded more than 30 clients who today are analysing well over 400 meeting per month, and usage is growing about 20% every month. We will very soon be processing thousands of client meetings every month.”

SOFI has been in development for three years and has been rolled out industry wide since the start of 2024. Businesses who have signed up to the platform include, asset managers, pension funds, investment consultancies, manager research teams, local government authority pension funds, and wealth managers – across the UK, EU and US.

Mallowstreet further said SOFI enables you to focus in your meetings on what you do best: working with your clients to ensure their financial future. Through utilising AI, you can store and organise your clients with detailed meeting notes ensuring you never forget their needs and you can exceed their expectations.