rewrite this title Uptiq.AI Acquires Data Integration Company UpSwot  – Finovate

Enterprise AI platform Uptiq.AI has acquired data integration startup UpSwot to enhance its AI Workbench capabilities and expand its applications for banks, fintechs, and wealth management firms.

Uptiq.AI will use UpSwot’s Financial Data Gateway, which integrates data from accounting, payroll, and CRM tools, enabling financial institutions to gain actionable insights and offer tailored recommendations to their commercial clients.

By combining AI-driven insights with data integration, the partnership empowers financial institutions to optimize operations, improve client engagement, and deliver more personalized services.

Enterprise AI platform for financial services Uptiq.AI made its first acquisition this week. The Texas-based company bought up data integration startup UpSwot.

While the terms of the deal were not disclosed, Uptiq.AI expects the purchase will help it deliver more applications tailored to serve a range of financial services, including wealth management firms, banks, credit unions, fintechs, and non-bank organizations.

UpSwot was founded in 2019 to bring banks actionable insights derived from their commercial clients’ data. The company leverages data from its Financial Data Gateway, which integrates with third-party SaaS software across key categories like Accounting, Banking, Payroll, ERP, and CRM. UpSwot uses the data to offer banks insights into trends and performance across their business customers, monitoring churn and engagement to drive more loyalty. UpSwot can simultaneously use the data to enable banks to offer their commercial clients recommendations on data-informed business decisions. The company demoed at FinovateSpring last year.

Uptiq.AI CEO Snehal Fulzele called the acquisition a “game-changer,” adding, “With UpSwot’s advanced Financial Data Gateway, we can unlock the full potential of our AI Workbench. This allows us to rapidly bring innovative AI applications to financial services organizations, enabling them to harness the power of their data like never before. Together, we’re setting a new standard for what Enterprise AI can achieve in financial services.”

As a result of the agreement, UpSwot’s Financial Data Gateway will power Uptiq.AI’s AI Workbench, which will allow banks to leverage structured and unstructured data for a variety of use cases. Uptiq.AI’s agents will be able to embed data from the wide variety of sources that Financial Data Gateway uses, which will help it differentiate itself from other agent developer platforms.

“Uptiq.AI and UpSwot share a commitment to driving meaningful innovation in financial services,” said UpSwot CEO Dmitry Norenko. “Joining Uptiq.AI will enable us to expand our reach and further amplify the impact of our data integration technology. Together, we are redefining how financial institutions can use AI to deliver exceptional value to their clients.”

Founded in 2022 as Cion Digital, Uptiq.AI helps banks optimize their operations and build valuable customer experiences. The Texas-based company, which has raised $32 million, was founded by Snehal Fulzele. Fulzele co-founded Cloud Lending Solutions in 2012 and led the company as CEO until he sold it to Q2 in 2018. Today, Uptiq.AI serves more than 350 clients across wealth management, banks, fintechs, and brokers. Uptiq.AI demoed at FinovateSpring 2022 under its former name, Cion Digital.

Photo by Pixabay

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