Enterprise AI platform Uptiq.AI has acquired knowledge integration startup UpSwot to boost its AI Workbench capabilities and broaden its functions for banks, fintechs, and wealth administration companies.
Uptiq.AI will use UpSwot’s Monetary Knowledge Gateway, which integrates knowledge from accounting, payroll, and CRM instruments, enabling monetary establishments to realize actionable insights and supply tailor-made suggestions to their industrial purchasers.
By combining AI-driven insights with knowledge integration, the partnership empowers monetary establishments to optimize operations, enhance shopper engagement, and ship extra personalised providers.
Enterprise AI platform for monetary providers Uptiq.AI made its first acquisition this week. The Texas-based firm purchased up knowledge integration startup UpSwot.
Whereas the phrases of the deal weren’t disclosed, Uptiq.AI expects the acquisition will assist it ship extra functions tailor-made to serve a variety of monetary providers, together with wealth administration companies, banks, credit score unions, fintechs, and non-bank organizations.
UpSwot was based in 2019 to deliver banks actionable insights derived from their industrial purchasers’ knowledge. The corporate leverages knowledge from its Monetary Knowledge Gateway, which integrates with third-party SaaS software program throughout key classes like Accounting, Banking, Payroll, ERP, and CRM. UpSwot makes use of the information to supply banks insights into tendencies and efficiency throughout their enterprise prospects, monitoring churn and engagement to drive extra loyalty. UpSwot can concurrently use the information to allow banks to supply their industrial purchasers suggestions on data-informed enterprise choices. The corporate demoed at FinovateSpring final 12 months.
Uptiq.AI CEO Snehal Fulzele known as the acquisition a “game-changer,” including, “With UpSwot’s superior Monetary Knowledge Gateway, we will unlock the total potential of our AI Workbench. This enables us to quickly deliver progressive AI functions to monetary providers organizations, enabling them to harness the ability of their knowledge like by no means earlier than. Collectively, we’re setting a brand new customary for what Enterprise AI can obtain in monetary providers.”
Because of the settlement, UpSwot’s Monetary Knowledge Gateway will energy Uptiq.AI’s AI Workbench, which is able to permit banks to leverage structured and unstructured knowledge for a wide range of use circumstances. Uptiq.AI’s brokers will be capable of embed knowledge from the big variety of sources that Monetary Knowledge Gateway makes use of, which is able to assist it differentiate itself from different agent developer platforms.
“Uptiq.AI and UpSwot share a dedication to driving significant innovation in monetary providers,” stated UpSwot CEO Dmitry Norenko. “Becoming a member of Uptiq.AI will allow us to broaden our attain and additional amplify the impression of our knowledge integration know-how. Collectively, we’re redefining how monetary establishments can use AI to ship distinctive worth to their purchasers.”
Based in 2022 as Cion Digital, Uptiq.AI helps banks optimize their operations and construct worthwhile 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 offered it to Q2 in 2018. Right this moment, Uptiq.AI serves greater than 350 purchasers throughout wealth administration, banks, fintechs, and brokers. Uptiq.AI demoed at FinovateSpring 2022 underneath its former identify, Cion Digital.
Photograph by Pixabay
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