Finantix, an AI-based financial insights developer, has acquired InCube Group, a Swiss developer of solutions for wealth management and insurance industries, for an undisclosed amount.
The acquisition is expected to strengthen Finantix’s platform by enhancing it with InCube’s AI, robotics and cognitive technologies.
InCube offers data-driven AI-enabled products and digital solutions for scalable investment processes and personalised advice.
Its team of data scientists, finance and technology professionals claim to have designed, AI-based engines and AI-powered solutions to help its clients harness business value from the data, increasing operational productivity and offering intelligent recommendations.
The integration of InCube’s team is also expected to boost the company’s existing industry expertise.
Finantix chief commercial officer Christine Ciriani 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.”
InCube acquisition to expand Finantix’s presence in Switzerland
The deal could further expand Finantix’s presence in Switzerland and also across the global wealth management and insurance industries. It could also broaden the market for InCube’s AI-driven products and solutions.
With support from Motive Partners, Finantix is expanding across Europe, Asia Pacific and North America, improving the adoption of its products.
InCube Group co-founder and partner Boris Rankov said: “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.”
