JP Morgan partners with Tifin to create AI-powered fintechs
The new studio builds on Tifin Studios, which ran for three years and saw the development of the JP Morgan-acquired 55ip.
JP Morgan is pairing up with Tifin, an AI platform for wealth, to fund a studio designed to develop AI-powered fintech companies.
Tifin.AI follows on from Tifin Studios, which created five companies between 2018 and 2021, including 55ip, which JP Morgan acquired in 2020.
Looking to bring in “a new phase of fintech innovation in wealth management”, Tifin.AI will capitalise on AI capabilities including client portfolio insights, alternative investing, wealth management and insurance.
“At TIFIN it is our mission to deliver impact through innovation at speed,” Tifin founder and CEO Vinay Nair said.
“The Studios model is deeply ingrained in our DNA and we are proud to have built a platform to help accelerate the future.
“I am excited to collaborate with talented and visionary employees and apply the tremendous innovation in AI to change financial outcomes for individuals through the companies that we create and launch.”
With a shared vision that AI will make an “integral” part of all wealth and asset management interactions, Tifin.AI embodies the views of both companies.
“JP Morgan and TIFIN’s collaboration underscores our shared commitment to innovation, and shared belief that AI will not only reshape the financial services landscape, but accelerate the next era of innovation and efficiency,” JP Morgan global head of wealth management advisory solutions Ted Dimig said.
“We are delighted to see this next iteration of TIFIN Studios as an energizing step forward in the creation of cutting-edge financial technology.”