Finantix has agreed to buy Zurich-based firm InCube Group AG, which provides data-driven, AI-enabled products and solutions to wealth management and insurance companies.
The financial terms of the deal were not disclosed.
The wealth tech firm said the acquisition will strengthen Finantix’s platform by augmenting it with InCube’s AI, robotics, and cognitive technologies and expand its presence in the Swiss and global wealth management and insurance markets.
It will also broaden the market access for InCube’s AI-driven products and solutions.
Christine Ciriani, chief commercial officer for Finantix, said: “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.”