Eton Solutions achieves ISO 42001 Certification,Signaling Commitment to Ethical AI in Wealth Management
NEW YORK – Eton Solutions,a technology firm serving the family office and wealth management industries,has announced it received ISO 42001 certification for its AI governance practices. This milestone underscores the company’s dedication to responsible artificial intelligence development and deployment, particularly as AI adoption accelerates within the sector.
The certification validates Eton Solutions’ framework for ethical AI, addressing growing concerns around data privacy, security, and transparency – critical considerations for organizations handling sensitive financial and personal facts. According to Eton Solutions, 91 percent of wealth managers either plan to or already utilize AI in investment strategies and asset class research, yet many continue to rely on older methods for essential administrative tasks like invoice payments, client onboarding, and data storage.
“For organizations such as ours, operating with sensitive financial and personal data, knowing that our technology partner adheres to the highest ethical AI standards is paramount,” stated Saji Sachchithanantham, chief operating officer of Todd Family Office, in a release from Eton Solutions. “Eton Solutions’ ISO 42001 certification provides us with added confidence that their AI-powered solutions are not only innovative but also built on a foundation of trust, transparency, and robust governance.”
Eton Solutions’ flagship platform, AtlasFive®, currently supports over 960 families, advisory firms, and private equity firms. Its AI solution, EtonAI™, processes more than 250 document types, automating tasks including invoice payments, tax document management, KYC compliance, and audit processes.The company identified at least 260 automatable processes within family office operations,according to chief information officer Murali Nadarajah,who spoke with this publication in March 2024.
The company recently launched its Administrative Family Office (AFO)™ in May 2024, designed to provide ultra-high net worth families – those with $25 million or more in assets - with capabilities comparable to those of large Single Family offices (SFOs). eton Solutions, originally created by Eton Advisors, a multi-family office, completed a $58 million Series C fundraising round in July.
