TIFIN, the artificial intelligence (AI) platform for wealth, is pleased to announce the launch of TIFIN.AI.
TIFIN.AI is dedicated to conceiving and “developing TIFIN’s second cohort of AI-powered fintech companies.” J.P. Morgan (NYSE: JPM) has joined TIFIN in funding TIFIN.AI.
The formation of TIFIN.AI builds “upon the success of TIFIN Studios, which created five companies between 2018 and 2021.” The first iteration of Studios “yielded profitable launches and exits including J.P. Morgan’s acquisition of 55ip in 2020, the spin-off of Paralel Technologies, and the foundation of TIFIN’s three subsidiaries Magnifi, TIFIN Wealth, and TIFIN AMP.”
TIFIN.AI ushers in a new phase of fintech innovation “in wealth management across advice and products through the use of AI capabilities across use cases that include client portfolio insights for advisors, alternative investing, wealth management in the workplace, and insurance among others.”
Drawing upon the insights gained by the previous cohort, TIFIN.AI has refined “a template for repeatable innovation, one that bolstered efficiency and led to shorter time-to-market for forthcoming innovations.” Operating as a subsidiary within TIFIN, TIFIN.AI will be directly overseen “by TIFIN’s founder and CEO, Dr. Vinay Nair.”
Vinay Nair, Founder & Chief Executive Officer of TIFIN, said:
“At TIFIN it is our mission to deliver impact through innovation at speed. The Studios model is deeply ingrained in our DNA and we are proud to have built a platform to help accelerate the future. I am excited to collaborate with talented and visionary employees and apply the tremendous innovation in AI to change financial outcomes for individuals through the companies that we create and launch.”
TIFIN.AI embodies TIFIN and J.P Morgan’s common vision “that AI is set to become an integral component of every wealth and asset management interaction.”
By leveraging the power of AI, many more professionals and individuals can now “harness valuable insights and recommendations, empowering them to make informed financial decisions.”
Ted Dimig, Global Head of Wealth Management Advisory Solutions at J.P. Morgan, said:
“J.P. Morgan and TIFIN’s collaboration underscores our shared commitment to innovation, and shared belief that AI will not only reshape the financial services landscape, but accelerate the next era of innovation and efficiency. We are delighted to see this next iteration of TIFIN Studios as an energizing step forward in the creation of cutting-edge financial technology.”
As noted in the update, TIFIN is “an AI and innovation platform for wealth.”
Founded by Dr. Vinay Nair, “a former Wharton Professor and successful entrepreneur, TIFIN was created to build engaging and intelligent wealth experiences for better financial lives.”
TIFIN manages Magnifi, “a consumer-focused marketplace that delivers investment personalization through next-gen intelligence and an AI investing assistant;”
TIFIN Wealth, an AI engine that enables organic growth for financial advisors, wealth enterprises, and workplace financial providers “through investment proposals, marketing automation, and data science; TIFIN AMP, an AI platform to modernize distribution for Asset Management firms; and TIFIN.AI, a new studio for thematic innovation focused on new business creation.”