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Telegraph
07-07-2025
- Business
- Telegraph
How to stop your CV getting screened out by bots
As many frustrated job-hunters will testify, searching for a new role can, at times, be pretty soul-destroying. Filling out countless applications is often time-consuming, and rejection is hard to handle – especially if you know you've got the requisite skills and qualifications. The problem is, you may be going up against a horde of applicants, and there's a risk the person who picks up your CV gives it just a few seconds of their attention before relegating it to the 'reject' pile. Worse still, there is evidence to suggest companies are increasingly using AI bots as an initial phase to screen out applicants when hiring. As a result, some people are finding it impossible to make it through to interviews, despite being qualified for the job. Suzie Berry, director of talent acquisition at training business, Flourish said: 'We are hearing from so many of our candidates that applying for jobs in 2025 can feel like shouting into the void. This isn't new but what has changed is who is making the initial decisions.' While this may make for worrying reading, there are steps you can take to ensure your CV and cover letter satisfy what the bots are looking for. Here Telegraph Money takes a closer look at how these tools work – and how to ensure you make it through the initial 'sift': So how do these bots work? The aim of a CV is to give employers a quick way to sort through applicants. But to speed things up, many firms now use what are known as ' applicant tracking systems' (ATS). According to LinkedIn's 2025 Work Change report, a huge 88pc of businesses are now using AI in one way or another to manage the volume of applications they receive – and to improve efficiency within their recruitment processes. Peter Wood, chief technology officer at recruitment agency, Spectrum Search, said: 'Most CVs today are filtered by software before a person ever sees them. If you're applying to a large company or a tech-focused startup, your application is likely scanned by an automated system that checks for keywords and matches against the job description.' Crucially, these tools aren't reading for style or personality. Mr Wood added: 'They focus on things like skills, job titles, qualifications and dates.' These AI bots typically use large language models and are commonly integrated into ATS. James Neave, head of data science at job matching platform Adzuna, said: 'They are able to assess CVs in the context of specific job requirements – typically assigning each candidate a score, where the higher scores are shortlisted for hiring managers to review.' Worryingly, this can mean that if your CV doesn't contain the right keywords – or enough of them – your application could be cast aside before a human being even sets eyes on it. Ms Berry said: 'AI bots will often parse candidates' CVs breaking down the information from this into structured data.' While this approach isn't new, it has evolved significantly in recent years. Ms Berry added: 'What used to involve simply pulling out job titles and dates is now about interpreting tone, inferred skills, and even cultural fit.' Equally, with the rise of AI, some ATS tools are not only screening candidates, but also taking on tasks such as scheduling interviews, and predicting which applicants will be the best fit. Mr Neave said 'Recruiters typically spend seven seconds on average eyeballing a CV to determine whether it's a good fit, while AI bots can review hundreds to thousands of CVs in the same timeframe. With thousands of applications landing in a recruiter's inbox every day, AI bots are able to do the heavy lifting.' So what's the problem? For the genuine candidate trying to prove their suitability, the application process has changed dramatically. Dr Clare Walsh, Director of Education at the Institute of Analytics (IoA), said: 'They may find their value is judged by random criteria that have nothing to do with their suitability. AI parsing tools may also struggle with things such as PDF formats, or with use of column text and other formatting choices.' This could mean that, for example, as a result of you using graphics, or non-standard formatting, some details included on your CV may get skipped altogether. At the same time, many systems find it hard to understand context, which means they may miss transferable skills, career changes – or anything that doesn't fit a strict pattern. And then there's the issue of bias. Ms Gall said: 'These systems aren't perfect. They can disadvantage and overlook talented candidates, especially those who don't speak English as a first language, are neurodiverse, or simply present their experience in a non-traditional way.' Alongside this, there are also real ethical concerns, even if some argue that it reduces human prejudice. University of Washington research found that racial and gender biases in the way AI tools screened applicants. How can you get past the bots? So what can you do to make sure your CV and cover letter navigate these automated gatekeepers? Be sure to mirror keywords from the job ad To improve your chances, you need to tailor your application with the AI algorithm in mind. Ms Gall said: 'Mirror keywords from the job description in your CV and use AI 'CV checkers' or tools such as LinkedIn Premium to see how well you match the role before hitting send.' This is a view shared by Peter Duris, co-founder of Kickresume, a platform for building CVs and covering letters. He said: 'Make sure you include keywords that you have seen in the job description. But take care to do so in a natural-sounding way so that it still makes sense to human readers.' Understanding how 'Applicant Tracking Systems' work Be prepared to roll up your sleeves and do the research to see what will please the bots. Ms Walsh said: 'Practising key word optimisation may well determine your success in, say, applying for a role. It's a new world.' Keep the language clear As these tools often favour familiar phrases and predictable patterns, make sure your skills are clearly spelt out. Mr Wood said: 'It helps to be as direct as possible. Use the same wording you see in the job description where it applies, avoid unexplained acronyms, and make sure key information stands out.' Write out your qualifications in full to help the CV scanner understand exactly which you have, and the level you achieved. Keep job titles and dates simple and consistent. Avoid 'fluff' Don't use AI, as recruiters will see straight through this. Ms Gall said: 'You can't rely on AI to do the work for you. Always make sure your CV truly reflects your skills. If not, any AI-generated 'fluff' that you include will quickly fall apart in an interview or once you're in the role.' Anything that lacks specifics may also be flagged up quickly as suspicious. Remember this: AI excels at creating persuasive but generic content. Always double check for accuracy With technology evolving in this way, it's imperative that every detail of your CV is spot on. Ms Walsh said: 'Overemphasising and embellishing may well be a more dangerous game to play in 2025. Bots are often trained to spot unrealistic achievements and inconsistencies in your story better than a human.' Keep your CV clean If there's one thing to focus on, it's making your CV easy to process. Do this by using simple layouts and standard headings. Ms Berry said: 'It is vital that CVs are easy to read. Clear formatting can mean candidates have more success.' If your CV is a PDF, make sure the text is 'searchable' by a computer using 'optical character recognition' (OCR). There are plenty of online tools available to help with this. Ms Walsh goes a stage further, suggesting that simple word text format may actually be the best option. She said: 'Your CV needs to be machine readable above all else. The visually-creative CVs that would get a human's attention only a few years ago may never get past the robot.' Take care with graphics While your CV can contain visual elements, all the text must be readable so that the ATS or AI tool can scan it. Mr Duris said: 'If your CV contains a visual element, like a chart listing some of your skills, be sure to mention those skills in writing in the body of the PDF.' Make yourself memorable Take steps such as asking for referrals, connecting with the hiring manager, and reaching out on LinkedIn to people who work there. Ms Berry said: 'Outreach has never been more vital. Think about sending something personal. It is this human connection that can overcome the challenges faced by AI screening.' Thinking and acting differently is key to cutting through the noise.
Bangkok Post
27-06-2025
- Business
- Bangkok Post
Guru's Weekly Buzz: June 27-July 3
Guru By Bangkok Post's pick of the most exciting products, activities, food and travel to indulge in. JOIN Kitchen takeover / Siam Kempinski Hotel Bangkok / July 2-5 and July 9-12 Siam Kempinski Hotel Bangkok welcomes chef Josh Raine for an exclusive eight-night kitchen takeover from July 2–5 and July 9–12. Chef Raine will present a five-course menu and diners who book before June 30, will receive an early bird rate. Chef Raine is the co-founder and executive chef of 40 Res, a trendy dining destination and wine bar in Surry Hills, Sydney, Australia where he champions local produce. His Bangkok menu features halibut, foie gras, cod and Wagyu chuck flap. Wine dinner / Scarlett Bangkok / July 3 Scarlett Wine Bar & Restaurant will host 'A Sicilian Wine & Food Journey', a wine dinner on July 3. The six-course menu will be paired with Sicilian wines and will include dishes like saffron crab arancini. Seats are limited. In celebration of French National Day, Avani Ratchada Bangkok will hold the 'Wine Play: Legends Of Lafite', an evening of fine wines, live jazz and curated pairings at Metro Lounge on July 4. The evening will feature a curated tasting journey from Domaines Barons de Rothschild Lafite (DBR Lafite), one of France's esteemed wine families. A selection of cheeses, cold cuts, oysters and canapés will also be offered. 15th anniversary / Sindhorn Kempinski Hotel Bangkok / Until July 15 Sindhorn Kempinski Hotel Bangkok joins Kempinski properties around the world in marking the 15th anniversary of the Lady In Red and Gentleman In Red, two iconic roles that have come to symbolise the brand's commitment to personalised service. The hotel has created a series of 'Moments In Red', which include "Rosé In Kempinski Red", a limited-edition prosecco DOC Rosé crafted from Glera and Pinot Noir grapes. Guests can also indulge in the Lady In Red cake, an eye-catching creation finished in vibrant red textures and topped with seasonal berries. At the hotel's Executive Lounge, Lobby Lounge and Firefly Bar, the celebration continues with three signature beverages: the Lady In Red cocktail, the Gentleman In Red and the Mocktail In Red. Available until July 15. Anniversary dinner / Mia / July 4 As part of their sixth anniversary celebrations, the "Friends Of Mia" series will welcome guest chefs Charlie Wilson, head chef of Aulis Phuket and George Kay, head chef of Alex Dilling at Lord Jim's on July 6. They will cook alongside chefs Pongcharn "Top" Russell and Michelle Goh and will present an eight-course tasting menu built around truffles. Four hands dinner / Flourish X Maison De Chiang Rai / July 3-4 Flourish teams up with Maison de Chiang Rai for a two-night northern Thai dining collaboration at Flourish, Sindhorn Kempinski Hotel Bangkok. The "Northern Series" continues as executive sous chef Chatsorn of Flourish collaborates with guest chef Buakeaw from Maison de Chiang Rai. Beginning the evening with lam lam pa puen, a welcome mocktail inspired by the local fruit — emperor lychee. The enjoy a specially curated seven-course menu, featuring northern-style egg frittata with ant eggs, Thai-style blue crab and minced pork, and herb-stuffed Khlong Pai farm chicken wing. This is followed by crispy dover sole with Royal Project Tropical Fruits — yuzu and Nang Lae pineapple and basella flower in dried fish broth served with crispy beef skins. The main course is smoked Kurobuta pork belly served with northern Ficus Lacor Buch and Lanna-style tomato rice. End on a sweet note with 70% dark chocolate from Chiang Rai served with baked pineapple and Royal Project green tea ice cream. New exterior / Saffron Cruise Banyan Tree Bangkok has unveiled a striking hand-painted design on the exterior of Saffron Cruise. Adorning the hull is a majestic depiction inspired by the Siamese fighting fish —Thailand's national aquatic animal. A symbol of strength and spirit known as pla kad, the Siamese fighting fish holds a symbolic meaning in Thai culture, which Saffron Cruise honours. The large-scale artwork flows fluidly across the vessel's side, creating a sense of motion and storytelling as the cruise glides past historic riverside landmarks. Aboard the two-storeyed vessel, diners are treated to a four-course Thai dinner in the indoor saloon, while the Moon Deck provides an open-air bar experience. Pendulum workshop / Slowcombo / June 29 Slowcombo is organising a Pendulum Workshop by Libra & Pisces on June 29. The workshop will explore the use of the pendulum, a powerful energetic tool for connecting with intuition and receiving guidance from higher consciousness. Designed for both beginners and those familiar with energy work, it offers a thoughtful space for inner exploration and spiritual alignment. Limited seating so Line Libra & Pisces. Coffee culture / Thailand Coffee Fest 2025: Drink Better Coffee / July 10-13 Thailand Coffee Fest turns 10 and aims to promote the conscious consumption of coffee. A cup of joe that can positively impact society, economy and the environment, if you will. This year's caffeine fest will cover 20,000m² of space with 300 booths from 58 countries around the world. The highlights include Thai Specialty Coffee Awards 2025, insightful seminars from experts in the coffee industry, an exhibition on model farmers, Thailand Coffee Championships 2026, coffee champs and farms from across the globe and a special lounge by SCA (Specialty Coffee Association) where you can delve into the world of coffee through various activities. Free admission and you can register in advance at Thailand Coffee Fest 2025 will take place at Impact Exhibition Center Hall 5-8 from July 10-13. TRAVEL New package / W Bangkok W Bangkok has launched the 'Savor And Stay' package, which offers a stay in a room or suite, daily breakfast at The Kitchen Table for two persons and a set dinner at The Kitchen Table for two persons per night. Island escape / Trisara Phuket / Until Oct 31 Set against the lush hillsides of Phuket's quiet northwest coast, Trisara has launched a new package for Thai nationals and residents. Guests can enjoy a night's stay in one of Trisara's ocean-view pool villas or residences, each offering a private pool and uninterrupted sea views. The experience is elevated by personalised service, daily breakfast for two guests per bedroom, a roundtrip transfer between Phuket International Airport and the resort, a complimentary extra bed and breakfast for one child below the age of 12 and late checkout. For stays of two nights or more, guests will receive a food and beverage credit per bedroom. The offer is valid for bookings and stays until Oct 31. New flights / Vietjet Thailand / From Oct 1 Vietjet Thailand is has announced a new direct service to South Korea, connecting Bangkok (Suvarnabhumi) with Seoul (Incheon) through daily flights starting Oct 1. Flights are open for booking. VZ850 departs Bangkok at 01:45 and lands in Seoul at 09:20, while the return flight VZ851 takes off from Seoul at 11:55 and arrives in Bangkok at 15:45. Meanwhile, the airline has partnered with Bluebox Aviation Systems to introduce a new in-flight entertainment service. The service will provide complimentary access to a wide selection of entertainment, including Hollywood blockbusters, regional favourites, and local Thai content. New flights to Japan / Vietjet Thailand / Until June 30 To commemorate its new direct flights from Bangkok to Tokyo and Osaka, Vietjet Thailand is offering the 'Grand Opening Sale', but you have to decide quickly, as you can book B0 (excluding taxes and fees, of course) flight to Japan until the end of June 30. The direct flight between Bangkok and Osaka will start on Dec 1 and the direct flight between Bangkok and Tokyo will commence from Dec 15. The travel periods under this offer are from Dec 1 to March 28, 2026, for Osaka, and from Dec 15 to March 28, 2026, for Tokyo. Farewell package / Kiri Private Reserve / Until July 15 Enjoy a barefoot stay at Kiri Private Reserve, formerly known as Soneva Kiri, in Trat before it undergoes a major restructuring with this farewell offer. The 'Timeless Elegance Retreat for Thai Residents' includes a two-night stay for two, a half-board package, a 60-minute spa treatment and a 30-minute TreePod Experience. Available for booking and stays through July 15 before Kiri Private Reserve closes its doors on July 17. The package is for Thai nationals and expats (valid ID or work permit required at booking and check-in). EAT Summer fest / IHG Hotels & Resorts / Until Aug 31 The "Sizzling Summer Fest', a nationwide campaign packed with dining perks, Thai flavours and family moments has made a return at all IHG Hotels & Resorts in Thailand. Until August 31, IHG will be offering dining promotions across Thailand, allowing IHG One Rewards members to enjoy exclusive perks with every eligible spend at participating restaurants and bars. From complimentary drinks to dining discounts and one-for-one offers, it's time to gather your favourite people and savour the season. Kids below the age of 12 can dine free in June and July at select venues when accompanied by an IHG One Rewards member. Bird's nest bonanza / Summer Palace / From July 1 to Aug 31 Summer Palace at the InterContinental Bangkok will present a special bird's nest menu throughout July and August. Expect dishes such as steamed bird's nest xiao long bao, braised bird's nest with king crab meat and white mushroom, sweet bird's nest with taro and coconut milk, and steamed egg white and bird's nest with milk. Summer brunch / / July 20 As part of the 'Sizzling Summer Fest', the 'Sizzling Summer Brunch' will be held at Kimpton Maa-Lai Bangkok, on July 20. Chef Javier Vicente from Regent Bali Canggu, the debut of InterContinental Halong Bay Resort's Marina Kitchen and Hotel Indigo Bali Seminyak Beach's Makase will be represented at the brunch. Expect to savour Thai, South American, Arabic and Chinese cuisines. Afternoon tea / The Okura Prestige Bangkok / From July 1 Up & Above Restaurant and Bar at The Okura Prestige Bangkok has unveiled the 'Sense Of Lavender Afternoon Tea'. Available from July 1, the tea is a celebration of Japan's vibrant summer and its blooming lavender landscapes. Presented on a multi-tiered white stand, the array is a feast for the eyes, with hues of soft purple, creamy white and vibrant fruit accents. Savour chicken with prune and cherry, beetroot with lychee and honey cream, and wild forest mushroom and rich parmesan. Sweet creations include tarts with sapphire-blue floral petals, pastries shimmering with edible gold flakes and Hokkaido milk with blueberry. Mediterranean flavours / Waldorf Astoria Bangkok The Waldorf Astoria Bangkok unveils 'Flavors Of The Mediterranean', an afternoon tea experience inspired by the culinary traditions of Italy, France, Spain, Portugal and Turkey. Indulge in Portuguese octopus salad, Greek mussels with squid ink chips, a Caprese salad and tournedos Rossini. The sweet selection, curated by Italian executive pastry chef Andrea Noli, includes essence of Capri, Arabian delight and Sicilian lemon cream. The experience concludes with a traditional Italian cannolo, prepared table-side, freshly baked scones and a choice of Mariage Frères tea or coffee, or a cocktail. Winter truffles / Nobu Bangkok / Until July 31 Nobu Bangkok has launched a new set of dishes that highlight Australian black winter truffles. For a limited time, savour the flavour of Australian black winter truffles from the southern forests of Western Australia through eight à la carte dishes that artfully combine Japanese cuisine with Peruvian influences. Two desserts also have the black truffle and are tropical pecan truffle and the smoky XL truffle. The Australian black winter truffle promotion is available until July 31. STUFF Serious data storage / SanDisk Creator Series Sandisk announced the Creator Series, seven new storage solutions uniquely designed for content creators (thus the name) at home or on the go. The series includes the phone SSD for those who create content with their iPhones, the microSD card for serious 4K5 and 5.3K5 footage capturing, the SD UHS-II card for professional-grade image and video capture with exceptional reliability, the phone drive for efficiently managing high-resolution photos, numerous video files or important documents between devices, the USB-C flash drive with ample storage for on-the-go content creators, the pro portable SSD for ultra-demanding creative workflows and the desk drive with a read speeds up to four times faster than a regular desktop hard drive for easy transfer and large projects backup. First foray into fragrances / Cos / July 9 London-based contemporary fashion brand Cos unveils its debut fragrance collection this Spring. Cos Perfumery translates the brand's vibe into the world of scent through fine fragrances and aromatic candles designed to evoke emotion, individuality and connection. Crafted in Grasse, the historic heart of haute parfumerie, each scent reflects a balance of tradition and modernity, aiming for enduring appeal. The Eau de Parfum collection features four scents, available in 100ml bottles, 15ml travel-size editions and a discovery set. They are woody Auburn, earthy yet refreshing Mythe, floral Fleuriste and sweet yet citrusy Solaire. The candle collection comes with four scents: earthy Figuier Du Jardin, herbaceous Voyage Épices, inviting and warm Cabane De Bois and rosy Cuir En Fleur. Cos Perfumery will be available at the One Bangkok branch from July 9 and at all branches from July 11.
The Australian
23-06-2025
- Business
- The Australian
Power of data visualisation: good data storytelling boosts business
Data storytelling is redefining the way many businesses communicate by turning complex information into a clear, meaningful story to help people understand what the data says and why it matters. But not everyone is comfortable with the change. New research has unearthed a 'data dilemma'. A global Canva survey of more than 2400 marketing and sales professionals shows while data dependency is growing, data competence is lagging. Almost 90 per cent of those surveyed work with data or spreadsheets weekly and around three-quarters say data reliance has increased in their workplace in the past two years. But two-thirds are anxious about working with data and 30 per cent go so far as to avoid it altogether – despite recognising its value. The confidence-capability gap shows up in specific technical challenges such as struggling with formulas and analysing data to identify key insights. Canva says this data dilemma contributes to data errors, heightens workplace anxiety, hinders productivity and ultimately prevents teams from unlocking the full power of the insights available. Duncan Clark, head of EMEA at Canva and co-founder of Flourish, a Canva company, says this is something businesses need to address, given data's growing centrality to the way we work. 'We now live in a world where every decision we make has to be informed by data, but also everything we do generates new data on which we can base new decisions,' Clark said. 'Everyone these days is expected to work with data, but not everyone gets the training they need to give them the confidence to do that effectively. There's a lot of people who are data-shy, but training, combined with easy-to-use tools, can put everyone on a journey towards data self-confidence.' Duncan Clark is head of EMEA at Canva and co-founder of Flourish, a Canva company Clark said it was up to businesses to prioritise training and make sure people had access to the right tools they could actually use. 'Suddenly, rather than data being constrained to the data scientists or the specialists, it's something that everyone is now working with, and therefore it's important to prioritise that skill set across the whole business.' When it comes to the right tools, Clark said Canva's numbers spoke for themselves. 'We now have over 230 million people in 190 countries using Canva each month and aspire to reach one billion users, which equates to roughly one in every five internet users globally. We've crossed one in six in Spain, one in seven in France, one in five in The Philippines. So it's become very much part of the culture in many countries.' It's also becoming part of business culture. Currently used by 95 per cent of the Fortune 500, Canva is signing multimillion-dollar deals for large-scale rollouts globally and counts the likes of DocuSign, FedEx, Atlassian and Snowflake as customers of its enterprise offering. Clark said: 'With organisations increasingly relying on data to anticipate market trends and inform business strategy, data storytelling isn't merely a competitive advantage, it's a business imperative. 'When teams can effectively visualise campaign performance or present data-backed customer insights, organisations make smarter decisions and drive growth.' Deloitte chief marketing officer and Canva Enterprise customer Carmen Roche said in today's data-driven world, good data storytelling could make a big difference. 'If we've written a 50-plus-page report that we're asking someone to engage with, we're asking them to make a really big investment of their time. So it's on us to make it as engaging as possible, and that's where great data storytelling comes in. 'We know from research that's been done that good data storytelling can contribute to a 20 per cent improvement in business performance.' The research also showed AI is increasingly becoming a powerful partner in data workflows. More than three-quarters of those surveyed believed AI could improve their ability to work with data, whether suggesting more effective ways to visualise information or data cleaning and preparation. But Clark said any idea that there were fewer people designing because AI was doing it for them, just didn't fit with what Canva was seeing. 'What we're seeing is AI making design more accessible and available, and therefore more and more people doing it. And the more design we have, the more demand there is for professional designers to bring that editing layer, that nuance, that brand sensibility. 'So the general trend we're observing is that AI is an incredibly effective workflow tool, rather than a tool that's replacing the creative parts of either data or marketing workflows. 'The goal isn't to make everyone a data scientist but to empower teams to confidently use the data at their disposal to craft compelling, engaging stories, whether it's for internal presentations or external content. 'Data alone doesn't move people, stories do – that's what we should focus on.' - Disclaimer This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ('DTTL'), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. Please see to learn more. Copyright © 2025 Deloitte Development LLC. All rights reserved. -
The Hindu
22-05-2025
- Politics
- The Hindu
A day in the life of a data journalist
At 10 a.m., I begin scanning the papers for the day's news. Exactly 12 hours later, a colleague from the data team and I will need to deliver a 600-word piece with supporting graphs for the 'Data Point' section on the oped page. Like a cyclone far out at sea, the deadline feels distant and harmless at this time of the morning, but the rumblings of the storm can be heard. Having long abandoned the practice of presenting our data stories as mere collections of facts, we now seek news pieces that allow for a narrative arc. The numbers must come together as a symphony. Every story needs a peg and a purpose. It must be built around a central argument, supported by evidence that reinforces the core takeaway. And so we hunt for stories that can branch into compelling data narratives. We find that dog bites are on the rise in Kerala; at least three children have died in the past month. It is a strong story, no doubt, but we have covered it before. With no new angle to cover, we move on. The U.K. Prime Minister is rolling out new immigration rules; how will this affect Indians? It is a viable lead, but the data resides on U.K. websites and foreign datasets take time to decode. This cannot be done in a day. The Supreme Court has slammed the Enforcement Directorate. Promising, but the data is patchy at best. What about Virat Kohli's poor form? The Reserve Bank of India's latest report? The record in the sales of electric vehicles? The shrinking of Arctic ice? Or the highest single-day death toll in Gaza? A dozen ideas are discussed, but there are many more reasons why we cannot implement them. There is no data. Or there is patchy data. There is good data trapped in bad PDFs. Or there is bad data on well-maintained portals. There is data but no narrative arc. Or there is a great arc but no data. And sometimes we ask ourselves: why do this story now? Post-lunch, often when we are on the verge of giving up, an idea clicks. At around 3 p.m., the data team shuffles into office. One member is working on a prospective video, another on an interactive, and yet another on smaller graphics across the paper. Soon the major focus will be on the centre piece of the day — Data Point. The data sources are ready for extraction. Using AI-generated Python scripts, we begin pulling in the numbers. But the data is messy — there are columns with no labels, empty rows, odd characters, misaligned tables, and missing meta data. All this needs to be cleaned and understood before any real analysis can begin. It is a task that will take several hours. There are seven hours to deadline and the winds are picking up speed. Finally, with the data in shape, the visualisations begin. Using tools such as Flourish, Tableau, and Google Sheets, the graphs start to take form. We discuss whether a line chart may work or a scatter plot. Will they fit the space? Then come the deliberations with the print design team. The data and design teams often agree to disagree, pushing back and forth until a consensus is reached. Post-dinner, a clean white document awaits. It is story time. Over 600 words need to be written with the news peg, context, and data. One and a half hours later, the story is sent to the page editor. By 9.30 p.m., we find ourselves standing in the eye of the deadline storm. The newsroom is buzzing. The page editor is firing questions at us, the design team wants annotations on the charts, and we need to sign off on news page graphics. All the i's are dotted and the t's crossed. With each passing minute, tensions rise. By 10:15 p.m., we finally send the page for printing after taking some last-minute decisions. The storm has finally passed. At 10 a.m. the next morning, I begin looking at the papers again. Another storm is brewing. It is harmless — for now. vignesh.r@
Yahoo
23-03-2025
- Business
- Yahoo
Flourish deal will give RIAs tools to compete with banks on lending
On Thursday, RIA technology platform Flourish announced its planned acquisition of AI-powered liability-optimization fintech Sora Finance. Terms of the deal will not be disclosed, Max Lane, CEO of Flourish, told Financial Planning. Sora will continue to operate as a standalone offering for roughly 12 months. During that time, Lane said Flourish would be designing a combined deposit and lending solution for advisors. He said he expects to introduce a fully integrated cash and lending solution in early 2026. Lane said the integrated solution will focus heavily on residential real estate financing: new purchase mortgages, refinancing and home equity lines of credit (HELOCs). "For years, advisors have given us feedback that they are looking for scaling residential lending solutions to help their clients — often who own highly valuable real estate — optimize their net worth," he said. "We also plan to incorporate Sora's leading liability aggregation technology to deliver both held-away cash and liability data directly to advisors to facilitate enriched and dynamic financial planning." Flourish, owned by Massachusetts Mutual Life Insurance Company (MassMutual), supports more than $7 billion in assets under custody and is used by more than 900 wealth management firms representing more than $1.6 trillion in assets under management. Lane said the deal came together "relatively quickly," starting with a conversation at the Future Proof Festival in September 2024 that was brokered by a mutual connection, Peter Nolan, senior vice president at Pontera, "who thought there could be an opportunity for both firms to work together." "We had a conversation on the beach in California, and a few months later, here we are," he said. "We had been aware of each other previously, as our offerings are complementary. Then, in conversation, we found we shared a similar vision about wealth management's evolution toward more comprehensive services — or, what I call 'Wealth 3.0' — and how independent advisors need integrated banking and lending solutions to compete with wirehouses. This alignment in mission and industry perspective helped accelerate our discussions from casual conversations at an industry event to a completed deal within just a few months." READ MORE: Obsessing over data to delight RIA clients: Flourish CEO Max Lane on lessons learned Lane said the combination of Sora and Flourish will give advisors the ability to actively manage both sides of the balance sheet: assets and liabilities. "In this era, RIAs are winning by offering services that compete with traditional banking products, like savings and lending," he said. READ MORE: Flourish CEO Max Lane feels the stage is set for the cash conversation These businesses provide natural hedges for one another, said Lane. He said his firm had seen "unbelievable growth" in the Flourish Cash offering as the country moved out of the zero interest rate policy (ZIRP) era to combat inflation. "While we don't currently foresee a return to the ZIRP era, we know rates will come down at some point, which should unlock a wave of refinance and home-purchasing opportunities for clients," he said. "We wanted to be sure advisors were armed with the tools to serve their clients with a great lending solution when that happens. The fact that we can further help advisors and clients while simultaneously making our business more robust makes this a win-win-win." Lane said wirehouses and private banks are using banking services as a wedge to attract wealthy clients, creating an "open flank" for RIAs who couldn't previously offer comparable services. "The Flourish-Sora combination closes this gap and allows RIAs to simultaneously grow and retain assets," he said. Ian Weiner, owner and lead planner at Bespoke Wealth Solutions in Bentonville, Arkansas, said he has worked with Sora for nearly two years and has a "great experience with them." "Liability management is a critical component of financial planning, and Sora has made it easy for clients to handle complex or unique financing needs through their platform," he said. "I've developed relationships with best-in-class lenders for mortgages and business financing who have provided products for my entrepreneur and small- and medium-sized business clients that others couldn't finance due to rigid lending platforms. Their customer service for our team has been top-notch as well." Twin brothers Vishal and Tushar Kumar co-founded Twin Peaks Wealth Advisors in San Francisco. Tushar Kumar said their firm has used both Sora and Flourish and has had good experiences with both. "We worked closely with the founders of Sora and helped clients find competitive lending solutions they didn't know were available," said Vishal Kumar. Tushar Kumar said what he likes about Sora is that it makes it easy for him to provide guidance to his clients on their overall debt profile. "It also allows me to identify debt optimization ideas and understand their cash flow," he said. "Debt is a core component of almost everyone's financial plan. Additionally, Sora helps me consolidate the number of vendors my clients have to work with. If my clients need a loan or a refinance, I can simply introduce them to the Sora team and pass the baton to them to get a transaction done for my clients." Tushar Kumar said Flourish has "been a seamless way to give my clients access to an easy-to-use high yield savings account that is integrated with my clients' advisory platform." "Being able to send my clients a signup link reduces friction for them and makes it easy for them to earn more interest on their deposits," he said. John Bell, owner and lead financial planner of Free State Financial Planning in Highland, Maryland, said he has used Flourish for the past year for both his own and client accounts. He said he likes the platform as it pays a good interest rate and is easy to set up and use for both the advisor and client. "It gives an advisor like me — advice only, with no money management — a way to both keep track of client cash assets — if they want to share that info with me — as well as being able to help get them a better interest rate if they are over the FDIC insurance limit," he said. Bell said the main advantage that Flourish has over other high-yield savings accounts is that it offers FDIC insurance up to $6 million for an individual or up to $12 million for a joint account. He said he also likes that Flourish has no minimum, as a client can experiment with it with no risk. "The service costs nothing for the advisor nor client; Flourish makes money off the cash spread," he said. "So, the yield could be a little higher than 4% if Flourish didn't take the spread, but is it worth it to chase yields and FDIC maximums around with multiple banks? I don't think so." Bell said he had explored using competitor MaxMyInterest but didn't like the associated client fee, especially with smaller accounts, which effectively reduces the overall yield. "I did like one feature, which I hope Flourish will add, which monitors your cash account at your regular bank and makes sure it is topped off at the end of every month. For instance, if you always wanted $50,000 in your checking account it would make the transfer automatically."
