The deal will bring AI-powered tools and data science expertise to Finantix in wealth management
Finantix has completed the previously announced acquisition of InCube, a Swiss fintech which uses artificial intelligence (AI) and data science solutions to financial institutions.
Zurich-based InCube offers data-driven, AI-enabled products and solutions to wealth management and insurance companies.
InCube’s interdisciplinary team consisting of AI specialists, quant and software engineers and finance experts has developed the products and solutions.
The company has designed its AI-enabled products and solutions for scalable investment processes and personalised advice.
The acquisition strengthens Finantix’s platform by augmenting it with InCube’s solutions
The acquisition is expected to strengthen Finantix platform with the addition of InCube’s AI, robotics and cognitive technologies.
With the integration of InCube’s team, the acquisition is also anticipated to enhance the Luxembourg-based fintech company’s existing industry expertise.
In addition, it is said to enable Finantix to expand its presence in Swiss and global wealth management and insurance markets.
InCube can also benefit from the broadened market access to its AI-driven products and solutions.
InCube Group co-founder and partner Boris Rankov said: “AI and data analytics have an increasingly important role to play across all areas of financial services to generate actionable insights and compliant recommendations.
“We are delighted that our expertise in AI and Finantix’s expertise in banking technology can come together to benefit customers. We believe our offering marries well with Finantix’s integrated digital client engagement and hybrid advisory platform and are excited to bring this to our clients and collectively to the market.”
Backed by Motive Partners, Finantix operates from offices across Europe, North America and Australasia.