Finantix acquires Swiss AI firm InCube
Private banking technology provider Finantix has acquired Swiss artificial intelligence (AI) and data science firm InCube.
The acquisition will see Finantix’s platforms augmented with InCube’s AI, robotic, and cognitive technologies, and give it access to the Swiss market.
Financial details of the deal have not been disclosed.
Christine Ciriani, chief commercial officer at Finantix says that the two firms share “many values and a common vision.”
She adds that the combination will help Finantix provide its clients with an “enriched platform ready to accelerate innovation capabilities.”
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.
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.