Finantix acquires InCube

Finantix, a provider of technology to the wealth management, insurance and banking industries, has acquired InCube Group AG, a Zürich-based firm with 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.

Christine Ciriani, Chief Commercial Officer for Finantix, says: “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.”