Enterprise AI platform Uptiq.AI has acquired information integration startup UpSwot to reinforce its AI Workbench capabilities and increase its purposes for banks, fintechs, and wealth administration corporations.
Uptiq.AI will use UpSwot’s Monetary Information Gateway, which integrates information from accounting, payroll, and CRM instruments, enabling monetary establishments to achieve actionable insights and supply tailor-made suggestions to their business shoppers.
By combining AI-driven insights with information integration, the partnership empowers monetary establishments to optimize operations, enhance shopper engagement, and ship extra personalised companies.
Enterprise AI platform for monetary companies Uptiq.AI made its first acquisition this week. The Texas-based firm purchased up information integration startup UpSwot.
Whereas the phrases of the deal weren’t disclosed, Uptiq.AI expects the acquisition will assist it ship extra purposes tailor-made to serve a variety of economic companies, together with wealth administration corporations, banks, credit score unions, fintechs, and non-bank organizations.
UpSwot was based in 2019 to deliver banks actionable insights derived from their business shoppers’ information. The corporate leverages information from its Monetary Information Gateway, which integrates with third-party SaaS software program throughout key classes like Accounting, Banking, Payroll, ERP, and CRM. UpSwot makes use of the info to supply banks insights into developments and efficiency throughout their enterprise clients, monitoring churn and engagement to drive extra loyalty. UpSwot can concurrently use the info to allow banks to supply their business shoppers suggestions on data-informed enterprise selections. The corporate demoed at FinovateSpring final yr.
Uptiq.AI CEO Snehal Fulzele referred to as the acquisition a “game-changer,” including, “With UpSwot’s superior Monetary Information Gateway, we are able to unlock the total potential of our AI Workbench. This permits us to quickly deliver progressive AI purposes to monetary companies organizations, enabling them to harness the facility of their information like by no means earlier than. Collectively, we’re setting a brand new normal for what Enterprise AI can obtain in monetary companies.”
On account of the settlement, UpSwot’s Monetary Information Gateway will energy Uptiq.AI’s AI Workbench, which can permit banks to leverage structured and unstructured information for a wide range of use instances. Uptiq.AI’s brokers will be capable of embed information from the big variety of sources that Monetary Information Gateway makes use of, which can assist it differentiate itself from different agent developer platforms.
“Uptiq.AI and UpSwot share a dedication to driving significant innovation in monetary companies,” stated UpSwot CEO Dmitry Norenko. “Becoming a member of Uptiq.AI will allow us to increase our attain and additional amplify the affect of our information integration know-how. Collectively, we’re redefining how monetary establishments can use AI to ship distinctive worth to their shoppers.”
Based in 2022 as Cion Digital, Uptiq.AI helps banks optimize their operations and construct helpful buyer experiences. The Texas-based firm, which has raised $32 million, was based by Snehal Fulzele. Fulzele co-founded Cloud Lending Options in 2012 and led the corporate as CEO till he bought it to Q2 in 2018. As we speak, Uptiq.AI serves greater than 350 shoppers throughout wealth administration, banks, fintechs, and brokers. Uptiq.AI demoed at FinovateSpring 2022 beneath its former title, Cion Digital.
Photograph by Pixabay
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