LONDON & ZURICH--(BUSINESS WIRE)--Finantix, the leading global provider of trusted technology to the wealth management, insurance and banking industries, today 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 award-winning platform by augmenting it with InCube’s AI, robotics, and cognitive technologies;
- Bolster Finantix’s existing deep 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.
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Notes to editor:
*Cool Vendors in AI for Banking and Investment Services, Moutusi Sau et al, April 2019
About Finantix
For over two decades, analysts have recognised Finantix as the leading provider of trusted technology to the worldwide financial industry. Applying deep sector knowledge, we empower wealth managers, insurers and banks to digitally and intelligently engage with customers and provide insightful and compliant advice. By injecting artificial intelligence into a comprehensive yet modular, API-first platform, our proven technology enables holistic customer intelligence, sales and servicing productivity and individualised omni-device experience.
Our flagship platform can run in the cloud or be deployed as services that can help turn routine transactions into valued and collaborative interactions. It serves multiple actors across financial services organisations and is proven across multiple devices, languages, currencies, jurisdictions and regulations. We operate from offices across Europe, North America and Australasia.
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Twitter @Finantix_FS
LinkedIn https://www.linkedin.com/company/finantix/
About InCube Group AG
InCube is a Swiss-based financial technology company specialised in wealth management and insurance. We provide data-driven, AI-enabled products and digital solutions for scalable investment processes and personalised advice. Our team of highly skilled data scientists, finance and technology professionals has designed AI-based engines and AI-empowered solutions that help our clients harness business value out of data, increase operational productivity, and deliver Next Best Actions.
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Twitter @InCube_Group
LinkedIn https://www.linkedin.com/company/incube-group/
