Enterprise AI platform Uptiq.AI has acquired knowledge integration startup UpSwot to reinforce its AI Workbench capabilities and increase 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 business purchasers.
By combining AI-driven insights with knowledge 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 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 companies, 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 business 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 info to supply banks insights into developments and efficiency throughout their enterprise prospects, monitoring churn and engagement to drive extra loyalty. UpSwot can concurrently use the info to allow banks to supply their business purchasers suggestions on data-informed enterprise selections. 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 are able to unlock the complete potential of our AI Workbench. This permits us to quickly deliver revolutionary AI functions to monetary companies organizations, enabling them to harness the facility of their knowledge like by no means earlier than. Collectively, we’re setting a brand new commonplace for what Enterprise AI can obtain in monetary companies.”
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 quite a lot of use instances. 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 companies,” mentioned UpSwot CEO Dmitry Norenko. “Becoming a member of Uptiq.AI will allow us to increase our attain and additional amplify the influence of our knowledge integration expertise. 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. Immediately, Uptiq.AI serves greater than 350 purchasers 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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