Finantix finalises acquisition of Swiss AI firm InCube
Wealth management technology vendor Finantix has closed its acquisition of data analytics firm InCube Group.
InCube will sit within the Finantix portfolio
The agreement, initially signed in March, sees InCube become part of the wider Finantix portfolio. It will also give the latter its first access to customers in Switzerland.
InCube, set up in 2008, offers products and services in business consulting, quantitative finance, data and predictive analytics, machine learning and software engineering.
The firm owns QuantAlea, a software engineering company specialized in high performance computing technologies.
Alessandro Tonchia, head of strategy and co-founder at Finantix, says that his firm will be able to address two “critical” areas for wealth managers and insurers.
“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.”
Founded in 1994, Finantix customers include Rothschild Bank, Crossbridge Capital, and DBS. HSBC Private Banking selected the firm in July 2019 to create a new private banking portal.
The vendor’s last acquisition saw it snap up Singapore-based Smartfolios, a creator of quant-enabled investment tools.
It completed a private equity funding round in December 2018 which saw Motive Partners nab a majority stake.
Financial details of the InCube acquisition were not disclosed.
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