TIFIN, an artificial intelligence (AI) and innovation platform for wealth, and J.P. Morgan have introduced a thematic AI-driven fintech innovation platform dubbed TIFIN.AI.
The new platform is designed to launch companies that provide business-to-business (B2B) AI assistants for better wealth outcomes.
J.P. Morgan joined the AI wealth platform in funding TIFIN.AI.
TIFIN.AI is committed to creating and growing TIFIN’s second cohort of AI-powered fintech firms.
The creation of TIFIN.AI builds on the achievements of TIFIN Studios, which gave rise to five companies from 2018 to 2021, said TIFIN.
TIFIN said that the initial version of Studios resulted in successful launches and exits, such as the 2020 acquisition of 55ip by J.P. Morgan, the spin-off of Paralel Technologies, and the establishment of TIFIN’s three subsidiaries, namely Magnifi, TIFIN Wealth, and TIFIN AMP.
TIFIN.AI will operate as a subsidiary within TIFIN.
It aims to transform the way financial platforms educate and deliver advice through the use of modern generative AI capabilities.
TIFIN founder and CEO Vinay Nair said: “At TIFIN it is our mission to deliver impact through innovation at speed.
“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.”
By using AI capabilities, many more professionals and individuals are expected to channel valuable insights and recommendations, enabling them to make informed financial decisions, said TIFIN.
J.P. Morgan wealth management advisory solutions global head Ted Dimig said: “J.P. 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.
“We are delighted to see this next iteration of TIFIN Studios as an energising step forward in the creation of cutting-edge financial technology.”