JP Morgan is investing in a new AI-focused venture from Tifin, a group that encompasses various wealth management fintech businesses.
Tifin.AI builds upon Tifin Studios, which established five companies between 2018 and 2021, including 55ip, a firm that was subsequently acquired by JP Morgan. Already an investor in Tifin, JP Morgan is now supporting Tifin AI as it aims to develop a new generation of AI-powered fintech wealth management solutions. This venture is exploring the application of AI for client portfolio insights for advisors, alternative investing, workplace wealth management, and insurance.
Tifin asserts that it has developed a framework for repeatable innovation, enhancing efficiency and ensuring quicker time-to-market.
Vinay Nair, CEO of Tifin, stated, “The Studios model is deeply ingrained in our DNA, and we are proud to have built a platform to help accelerate the future.”
Ted Dimig, global head of wealth management advisory solutions at JP Morgan, commented, “JP Morgan and Tifin’s collaboration highlights our shared commitment to innovation and our belief that AI will not only transform the financial services landscape but also drive the next wave of innovation and efficiency.”