Fidelity International has turned to AI to launch what it calls a “conversational interface” which is says is designed to enhance the experience of customers on its personal investing platform.

It has called the interface Freya, though the company offered no explanation for the name, which comes from Old Norse.

The company said Freya is a conversational LLM (Large Language Model) agent, powered by advanced generative AI models capable of interpreting natural language, understanding nuance, and generating dynamic responses.

It claimed the technology offers greater flexibility and depth than traditional chatbots, because it provides a more human-like interaction, using reasoning to deliver the best answer each time.

Stuart Warner, head of global platform solutions, Fidelity International, said: "Freya gives our customers clear answers in plain English. It is built with strong safety checks, human oversight and clear boundaries between information and advice.

“By using conversational interfaces alongside traditional digital tools, we are laying the foundations for the future.”

The company has more than 500,000 customers on its personal investing platform.

It said Freya, which launched at the start of September, will follow a phased rollout. After its initial launch for personal investing customers, it will be offered through Fidelity’s other platforms - workplace investing, and Fidelity adviser solutions.

It said the technology includes safeguards to detect and halt conversations that approach advice or regulatory boundaries. The firm said the interface “will not provide financial advice or personal recommendations.”

Mr Warner added: “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.”