- Uptiq.AI acquires UpSwot to enhance AI Workbench with better data integration for financial professionals.
- The deal aims to improve decision-making and processes like loan origination and portfolio management.
What happened: Uptiq.AI acquires financial data integration fintech UpSwot
US-based Uptiq.AI has acquired financial data integration fintech UpSwot for an undisclosed sum. The acquisition will integrate UpSwot’s data capabilities into Uptiq.AI’s newly launched AI Workbench product. Uptiq.AI, an enterprise AI platform, provides pre-packaged AI agents for financial professionals, streamlining business data access and decision-making. This will allow the AI agents to query and embed data across a range of sources, including accounting, banking, payroll, ERP, and CRM systems. UpSwot, backed by CFV Ventures, ICBA, and First Southern National Bank, offers a financial data gateway that helps businesses retrieve, analyse, and use data more effectively. The integration aims to enhance decision-making and improve processes such as loan origination, portfolio management, and customer interactions.
Uptiq.AI CEO Snehal Fulzele believes the acquisition will unlock the full potential of their new product, helping financial institutions better harness their data. Meanwhile, UpSwot CEO Dmitry Norenko sees the deal as an opportunity to expand their reach and amplify the impact of their data technology.
Also read: Shastic and MeridianLink enhance financial workflows with AI
Also read: Kaizen enhances compliance with RegGenome’s AI-driven data
Why it is important
The acquisition of UpSwot by Uptiq.AI is a significant move to enhance AI capabilities. By integrating UpSwot’s data technology into its AI Workbench, Uptiq.AI strengthens its platform for financial professionals. This will enable AI agents to access and utilise data from various sources, such as accounting and banking systems. As a result, financial institutions can make better-informed decisions and streamline processes like loan origination and portfolio management. UpSwot’s data gateway offers businesses improved data retrieval and analysis, which is essential for driving efficiency. For Uptiq.AI, this acquisition unlocks the potential of its new product, expanding its AI’s ability to integrate data across multiple platforms. CEO Snehal Fulzele sees it as a chance to maximise the product’s impact, while UpSwot CEO Dmitry Norenko views the deal as a way to expand their market reach and amplify the value of their data technology.
