BetaNXT on Tuesday announced the launch of InsightX, the wealthtech firm’s enterprise AI platform, and the creation of a BetaNXT AI Innovation Lab that it said was developed to provide new AI solutions to advisory firms.
As the company announced in November, the firm’s ongoing AI innovations are focused on four key areas, it said: data aggregation, workflow automation, business intelligence and predictive analytics.
Clarifying what the new Innovation Lab is, Chris Nobles, Division Executive for BetaNXT’s Mediant business, told WSR by email that it is “not a physical location” but rather a “platform and accelerator [that] launched earlier this year and is designed to rapidly move AI initiatives from concept to production, delivering production-ready solutions in as little as 90 days.”
The Innovation Lab “combines our deep domain expertise in financial services with advanced AI capabilities and agile development practices,” he said.
BetaNXT hasn’t disclosed how much money it’s investing in AI overall.
“What we can say is that AI is a core strategic priority [and] not a one-time initiative,” Nobles pointed out. “The launch of InsightX and the AI Innovation Lab are concrete evidence of that commitment.”
InsightX can be deployed through existing BetaNXT solutions, API integrations or standalone offerings, the firm said.
InsightX is launching officially now after BetaNXT ran an “internal beta for the past several months,” Nobles said. “Early adopter clients have signed on for the proof-of-concept stage of new solutions that will populate the InsightX Solutions Hub.”
Nobles went on to explain, “InsightX is not a replacement; it is an evolution. InsightX is BetaNXT’s enterprise AI platform, embedding artificial intelligence capabilities directly into our long-trusted platforms. It gives firms a centralized data and intelligence engine without having to build AI infrastructure from scratch, integrating seamlessly into existing workflows through a cloud-native, institutional-grade platform.”
InsightX was created for “institutions at the core of the wealth management ecosystem,” he noted, citing “broker-dealers, wealth managers, asset managers, and issuers” as its target audience.
Each of those customer segments will benefit differently from InsightX, he said.
“Broker-dealers gain workflow automation and operational intelligence, wealth managers get predictive analytics that empower their advisors, asset managers can make sharper portfolio and distribution decisions, and issuers can better understand shareholder behavior and optimize how they communicate with investors.”
The initial response to InsightX “has been strong, and that is not a surprise because InsightX is a direct response to what our clients have been asking for,” Nobles said.
He added, “The consistent themes we have heard across the industry are a need for deeper data intelligence, predictive analytics, and straight-through processing. InsightX was built to answer exactly those needs, which is why early adopter engagement has been so immediate and enthusiastic.”
The company is also “already seeing real momentum” with its Innovation Lab, he said, noting it has “produced initial concepts that will be announced soon, and customers are already in early adoption planning for those solutions. The speed at which clients have engaged with what the Lab is producing is a strong signal that we built the right vehicle – one that can move at the pace the industry needs.”
“We are hearing from our clients that they’re focused on scaling AI’s transformative impact beyond their data and technology teams,” Bob Santella, CEO of BetaNXT, said in the news release.
He added, “Figuring out how to integrate AI smoothly into day-to-day operations, advisor interactions and leadership decisions is the key to unlocking AI’s full potential. Our vision is to break down the barriers to AI adoption in order to bring intelligence and insights to every user in our industry, regardless of their technical background.”
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
