Finantix confirms closing of acquisition of InCube, bringing its AI and data science expertise into its wealth management and insurance portfolio

Finantix confirms closing of acquisition of InCube, bringing its AI and data science expertise into its wealth management and insurance portfolio
09.04.2020 11:43 am

Finantix confirms closing of acquisition of InCube, bringing its AI and data science expertise into its wealth management and insurance portfolio

M&A Deals

Finantix, the leading global provider of trusted technology to the wealth management, insurance and banking industries, confirms the closing of its acquisition of InCube Group AG on April 8 2020.

The acquisition of Zurich-based InCube brings Artificial Intelligence (AI) enabled offerings and solutions to Finantix. Those have been developed by an interdisciplinary team of machine learning specialists, quant and software engineers and finance experts.

Alessandro Tonchia, Co-Founder and Head of Strategy at Finantix, said: “InCube has outstanding functionalities in wealth management and insurance, which are a perfect fit for the Finantix portfolio. Combining the front office and client engagement capabilities of Finantix with the AI and quant engines of InCube will enable wealth managers and insurers to address two critical areas. First, accelerating the distribution of market views, model portfolios and investment ideas from the Chief Investment Officer to advisers and clients. Second, providing personalised and compliant client recommendations and experiences at scale. Excellence in both processes, delivered through a digital collaboration environment, is especially critical in the current circumstances. In the increasingly data-driven world of financial services, deep expertise in machine learning and advanced analytics, together with a strong understanding of the business challenges they can be applied to, will be key. Finantix will keep investing, organically and inorganically, in this field.”

Dr. Boris Rankov, Co-founder and Partner of InCube Group AG, said: “AI and data analytics have an increasingly important role to play across all areas of financial services to generate actionable insights and compliant recommendations. We are delighted that our expertise in AI and Finantix’s expertise in banking technology can come together to benefit customers. We believe our offering marries well with Finantix’s integrated digital client engagement and hybrid advisory platform and are excited to bring this to our clients and collectively to the market.”

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