Finantix, a technology developer solution developer, has acquired smartfolios in an undisclosed deal.
smartfolios is a quantitative analysis-enabled advisory and investment platform to support investors with their portfolios and strategies. The technology can support the whole wealth management process from strategy building to investment proposals, monitoring and rebalancing of investments.
A full quant-based robo-advisor service uses algorithms and portfolio building and rebalancing rules to create advanced risk analysis.
The acquisition will combine Finantix technology and AI capabilities with smartfolios quantitative analysis solutions to create a peerless digital wealth management solution.
Finantix builds end-to-end digital wealth advisory services and robo-advisor support for wealth managers. The company offers a range of solutions and APIs for banks, and insurance firms. Its technology can be used to help with digital bank transformation by providing digital lending, automated KYC, robo-advice, digital onboarding and online banking.
Insurance companies are able to access technology for automated sales, self-insurance, quotation and illustration, smart digital forms and banassurance.
Following the deal, Finantix clients will access more personalised experiences and services. Users will also access better management tools for performance, regulatory compliance, customer behaviour, key opportunities identification, proposal building, advice reasoning and research personalisation.
smartfolios co-founder and CEO Julien Le Noble said, ?By coming under the Finantix brand, and leveraging Finantix API-driven enterprise-grade architecture, we can fully realise our vision to build the market-leading quantitative investment advisory, insight and portfolio management platform.p>
Last year, big data companies dominated the data and analytics sector, with the sub-sector picking up 50 per cent of the $2.1bn invested, according to data by FinTech Global.
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