SEI Announces A Strategic Investment Of $10M In TIFIN, A Leading Innovation Platform Accelerating The Adoption Of Artificial Intelligence

Author: Benzinga Newsdesk | February 21, 2024 10:04am

Strategic Investment and Partnership Fosters Industry Talent, Innovation, and Growth

OAKS, Pa., Feb. 21, 2024 /PRNewswire/ -- SEI® (NASDAQ:SEIC) today announced a strategic investment of $10 million in TIFIN, a leading innovation platform accelerating the adoption of artificial intelligence (AI) in wealth management. TIFIN's pace of development and breadth of AI solutions—combined with SEI's scale, technology, and distribution—will help enhance and personalize client experiences and support business growth.

SEI and TIFIN expect that their strategic partnership will accelerate value and growth for the industry through:

• Rapid exploration and solution delivery: Evaluating and testing new ideas quickly with a clear path to build or co-invest in promising opportunities
• Access to market innovation: Engaging the financial services ecosystem to share best practices and resources and to stay abreast of the pace of change in AI and wealth technology
• Talent development: Empowering growth and learning through access to a greater pool of talent in emerging technologies, as well as externship programs

Sneha Shah, Head of New Business Ventures at SEI, said:

"The industry is changing faster than ever, and it likely won't slow down in the future. Like many emerging trends, 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 in order 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.

"Working with the right strategic partners during times of intense change can increase speed, confidence, and agility. TIFIN's proven expertise in efficiently building startups at the intersection of AI and wealth—as well as their core values and organizational culture—align with our strategic focus on talent, culture, and growth. We are excited to bring our teams together to build brave futuresSM through the power of connection."

Vinay Nair, Founder and CEO of TIFIN, added:

"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.

"SEI has the scale and distribution to detect opportunities and deliver the solutions needed. This makes it a powerful combination, and we are thrilled to partner with SEI. We believe that our cultural synergies, access to talent and expertise, and network of strategic partners will help power the future of wealth."

Posted In: SEIC