Finantix has reportedly signed an agreement for the acquisition of Zürich-based InCube Group AG, a company with a team of artificial intelligence (AI) specialists, quant and application developers and finance professionals that create data-driven, AI-powered products for wealth managers and insurers.
Finantix’s acquisition of InCube should enhance its operations, as it will be able to use the firm’s AI, robotics, and cognitive technologies while expanding operations in Switzerland’s wealth management and insurance markets.
Christine Ciriani, chief commercial officer at Finantix, stated:
“We are excited to welcome InCube to the Finantix family, enhancing our AI-based insights and personalization 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.”
She noted that by combining InCube’s AI-enhanced solutions, deep data science experience and domain knowledge with Finantix’s product offering, the firm’s user base will “benefit from an enriched platform ready to accelerate their innovation capabilities in a data-driven era.”
Dr. Boris Rankov, co-founder and partner at InCube Group AG, remarked:
“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.”
Rankov added that Finantix’s enterprise-ready technology, ongoing investment in research and development efforts, and expanding user base across Asian European markets is “extremely complementary to [the firm’s] existing products, offerings and expertise.”