Fidelity International has launched a generative AI (genAI) conversational interface designed to support customers using its personal investing platform by helping them quickly find the information they need.

Freya is a conversational large language model (LLM) which is capable of interpreting natural language, understanding nuance, and generating responses in real time.

The investment company says the technology, launched at the beginning of September, offers greater flexibility and depth than traditional chatbots, providing a more human-like interaction and enabling customers to find the information they need quickly and efficiently.

Unlike traditional scripted responses, Fidelity said that Freya uses reasoning to deliver the best answer each time, much like a human.

The company added that it developed the service with human oversight, enabling customers to benefit directly from the personalisation offered by AI, while ensuring each interaction remains secure and compliant.

The technology includes safeguards to detect and halt conversations that approach advice or regulatory boundaries.

Fidelity added that Freya will not provide financial advice or personal recommendations.
The tool will follow a phased rollout to ensure smooth and secure integration into the customer experience.

Fidelity said it plans to launch Freya on its other platforms, such as Workplace Investing and Fidelity Adviser Solutions, in the future.

Stuart Warner, head of global platform solutions at Fidelity International, said that the development of Freya will help the 500,000 customers on the company’s Personal Investing platform achieve their long-term financial goals.

“This launch comes at a time when expectations are shifting rapidly -people increasingly want services that feel intuitive and responsive, and the FCA has been clear on the importance of delivering more targeted support while respecting the boundaries between guidance and advice,” he added. “Importantly, Freya allows us to offer our customers a choice in how they engage with us - whether using the service to help answer their more immediate questions or seeking to speak to our client services teams to support their more complex needs.”

Fidelity International joins the many financial institutions that have implemented or expanded their AI assistants this year, including BBVA, which updated its AI-powered virtual assistant Blue to include account and card management capabilities in February.

The revamped chatbot will now be using natural language to provide services including tailored information on client finances, as well as perform some of the most common account and card transactions thanks to its large language models (LLM) interpretation and language generation capabilities.

In April, Commerzbank launched an AI assistant in its app to help customers with their banking transactions.

Called Ava, the assistant can interact with customers and provide both general and personalised advice on banking services such as which financial products are available.

In January, the chief information officer (CIO) at Goldman Sachs said that the bank will implement a genAI assistant that will someday mimic the traits its seasoned employees.

In an interview with CNBC, Marco Argenti revealed that Goldman has rolled out its GS AI assistant to 10,000 bankers, traders and asset managers, with plans to expand this to all the bank’s knowledge workers this year.

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