Financial services technology provider Finantix has announced a binding agreement for the acquisition of data science company InCube Group.
According to a statement, the deal will strengthen Finantix’s platform by augmenting it with InCube’s artificial intelligence, robotics and cognitive technologies, and expand its presence in the Swiss and wealth management and insurance markets.
Christine Ciriani, chief commercial officer for Finantix, said: “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.”
Boris Rankov, co-founder and partner at InCube Group, added: “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.”
The Zürich-based firm has an interdisciplinary team of AI specialists and software engineers who provide data-driven products and solutions to wealth management and insurance companies.
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