OAKS, PA — SEI® (NASDAQ: SEIC), a leading provider of technology and investment solutions, has announced a strategic investment of $10 million in TIFIN, an innovation platform that is spearheading the adoption of artificial intelligence (AI) in wealth management.
This partnership combines TIFIN’s rapid pace of development and wide range of AI solutions with SEI’s scale, technology, and distribution capabilities. The collaboration is aimed at enhancing client experiences, personalizing services, and supporting business growth.
The two companies envision that their strategic alliance will turbocharge value and expansion for the industry. This partnership aims to foster the rapid exploration and delivery of innovative solutions, facilitate access to market innovation, and promote talent development, thus driving forward progress and growth within the industry.
Sneha Shah, Head of New Business Ventures at SEI, emphasized the transformative potential of AI in the financial services sector. She said, “AI has tremendous potential to disrupt financial services, as well as accelerate opportunity, access, and impact. We need a deep curiosity and willingness to challenge convention to realize the promise of AI in driving greater personalization, helping clients find signal in noise, and meeting our clients where and when they want.”
Shah also underscored the importance of strategic partnerships during periods of intense change, noting that alliances like the one with TIFIN can increase speed, confidence, and agility. She praised TIFIN’s proven expertise in efficiently building startups at the intersection of AI and wealth, which align with SEI’s strategic focus on talent, culture, and growth.
Vinay Nair, Founder and CEO of TIFIN, shared Shah’s enthusiasm for the partnership. He said, “We are in a golden age of applying AI to help deliver better individualized advice and more relevant investment products to more people. TIFIN has built and continues to build products to accelerate this future.”
Nair also highlighted the potential of SEI’s scale and distribution capabilities to detect opportunities and deliver the necessary solutions, making it a powerful partner for TIFIN.
SEI is a technology and investment solutions provider that connects the financial services industry. As of Dec. 31, 2023, SEI manages, advises, or administers approximately $1.4 trillion in assets.
TIFIN is an AI and innovation platform that aims to improve wealth outcomes. The company creates and operates new entities that use data science, AI, and technology to address frictions in wealth and asset management. TIFIN’s portfolio of companies includes Magnifi, TIFIN Wealth, TIFIN Give, TIFIN AG, TIFIN AMP, Helix, TIFIN @Work, and Sage.
This partnership between SEI and TIFIN is set to revolutionize the wealth management industry, leveraging AI to provide better individualized advice and more relevant investment products. As the financial services sector continues to evolve, strategic alliances like this one are likely to play a crucial role in shaping its future.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.