Tifin, the artificial intelligence (AI) platform for wealth, has launched Tifin.AI. According to the fintech, Tifin.AI is dedicated to conceiving and developing Tifin’s second cohort of AI-powered fintech companies. In addition, JP Morgan has joined Tifin in funding the new A-focused venture.

The formation of Tifin.AI aims to build upon the success of Tifin Studios. This created five companies between 2018 and 2021. The first iteration of Studios yielded profitable launches and exits. Examples include JP Morgan’s acquisition of 55ip in 2020 and the spin-off of Paralel Technologies. Other examples include the foundation of Tifin’s three subsidiaries Magnifi, Tifin Wealth, and Tifin AMP.  Launched in late 2022, Tifin AMP raised $10m in a Series A funding round in June.

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A new phase of fintech innovation in wealth management

Tifin forecasts an expansion in the use of AI across both financial advice and products. Expanded use cases for AI will incorporate client portfolio insights for advisers, alternative investing, wealth management in the workplace, and insurance.

Tifin says that it has refined a template for repeatable innovation. Specifically, it is one that bolsters efficiency and leads to shorter time-to-market for forthcoming innovations. Operating as a subsidiary within Tifin. The new venture will be directly overseen by its founder and CEO, Vinay Nair.

“At Tifin it is our mission to deliver impact through innovation at speed,” said Nair. “The Studios model is deeply ingrained in our DNA. 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.”

AI: Tifin and JP Morgan common vision

Tifin and JP Morgan share a common vision that AI is set to become an integral component of every wealth and asset management interaction. By leveraging the power of AI, many more professionals and individuals can now harness valuable insights and recommendations. This will, in turn, empower them to make informed financial decisions.

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“JP Morgan and Tifin’s collaboration underscores our shared commitment to innovation. And a shared belief that AI will not only reshape the financial services landscape, but accelerate the next era of innovation and efficiency,” said Ted Dimig, Global Head of Wealth Management Advisory Solutions, JP Morgan.

“This next iteration of Tifin Studios is an energising step forward in the creation of cutting-edge financial technology.”

Tifin’s wealth unit introduced the new platform driven by AI to facilitate client personalisation last year. The firm offers the personalised platform to financial intermediaries operating in the wealth sector. In May last year, the firm secured an investment of $109m in a Series D funding round.