Finantix Acquires a Swiss AI-Wealthtech Companyby Company Announcement March 11, 2020
Finantix, a global tech provider to the wealth management, insurance and banking industries, announced the execution of a binding agreement for the acquisition of InCube Group AG. The Zürich-based firm boasts an interdisciplinary team of Artificial Intelligence (AI) specialists, quant and software engineers and finance experts that provide data-driven, AI-enabled products and solutions to wealth management and insurance companies.
The acquisition will:
- Strengthen Finantix’s-platform by augmenting it with InCube’s AI, robotics, and cognitive technologies;
- Bolster Finantix’s existing industry expertise with the integration of InCube’s highly accredited team, many of whom are ETH Zürich or HSG St. Gallen alumni;
- Further expand Finantix’s presence in the Swiss and global wealth management and insurance markets;
- Broaden market access for InCube’s AI-driven products and solutions.
Christine Ciriani, Chief Commercial Officer for Finantix, said:
“We are excited to welcome InCube to the Finantix family, enhancing our AI-based insights and personalisation capabilities. This acquisition is a great fit as we share many values and have a common vision. First and foremost, a relentless focus on the need of our customers to leverage the growing amount of data available and the drive to transform this into actionable business insights. We believe that, by combining InCube’s AI-based products, deep data science experience and domain expertise with Finantix’s comprehensive offering, our customer-base will benefit from an enriched platform ready to accelerate their innovation capabilities in a data-driven era.”
This is supported by a Gartner report which cites that the use of AI-powered tools is proliferating in financial services. Customer experience remains one of the top business priorities applicable to many constituents due to the application of AI tools and their ability to directly benefit customers.
Dr. Boris Rankov, Co-founder and Partner of InCube Group AG, adds:
“Financial services institutions are dealing with more data than ever before. It is paramount that data is processed in a timely and intelligent manner to generate actionable insights and personalised experiences. We believe our joint proposition will allow us to better execute this vision. Finantix’s enterprise-grade technology, ongoing investment in research and development, and expanding client base across Asia-Pacific and Europe are extremely complementary to our existing products, offerings and expertise.”
With the backing of Motive Partners, Finantix continues to expand across Europe, Asia Pacific and North America and drive the adoption of its products, which increase sales effectiveness and improve the quality of advice.