Cion Digital

Uptiq.AI Acquires Data Integration Company UpSwot 

Uptiq.AI Acquires Data Integration Company UpSwot 
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Alumni profile, Cion Digital, Mergers & Acquisitions, UpSwot, UPTIQ
  • 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

Share this:

Send Post Twitter LinkedIn Facebook

Financial Intelligence Platform Provider Cion Digital Rebrands as UPTIQ

Financial Intelligence Platform Provider Cion Digital Rebrands as UPTIQ
By David Penn Posted on
Categories: Alumni News, Cion Digital, Daily news, UPTIQ
  • Cion Digital announced a rebrand to UPTIQ this week.
  • The new name is designed to reflect the company’s focus on bringing financing solutions to wealth managers and advisors.
  • Headquartered in Texas and founded in 2021, the company made its Finovate debut at FinovateSpring 2022.

Financial intelligence platform provider Cion Digital, which made its Finovate debut at FinovateSpring last May, has rebranded. The Austin, Texas-based company announced this week that its new name is UPTIQ. The new moniker is designed to underscore the company’s commitment to bring its lending solutions to businesses in the wealth management industry.

“As our business model evolves, we want our name to reflect who we are and what we do,” company Chief Marketing Officer Katie Robinson said. “UPTIQ reflects the results we expect our solutions to bring to advisors and their clients – the upward movement we want for all our stakeholders. We want to inspire and establish our trustworthiness as a partner to financial advisors.”

UPTIQ offers a platform that enables wealth advisors to grow their AUM by providing loans to help finance purchases, liquidity, and working capital. The company’s Financial Intelligence Platform leverages data analytics and AI to ensure clients are offered financing solutions that match their goals and preferences. The company has secured partnerships with a number of lenders such as Credibility Capital, Bank 34, and Celtic Bank that have made their lending solutions available on the platform.

“With the UPTIQ Financial Intelligence Platform, wealth advisors can collaborate with lenders and their clients throughout the loan origination process and feel confident they’ve identified the best loan product to meet their clients’ needs,” UPTIQ founder and CEO Snehal Fulzele said. “Our new name reflects the value we offer to all stakeholders.”

UPTIQ will also offer wealth managers and advisors other services in addition to financing. These offerings include access to deposits, alternative investments, and insurance. The goal is to enable wealth managers to grow their businesses by offering more holistic services that encompass more than traditional wealth management.

Founded in 2021, the company demoed its Crypto Dealership Platform at FinovateSpring 2022. The technology, a blockchain orchestration platform, enables auto dealers and other retailers of “big ticket” items to accept cryptocurrency as payment. The company ended last year with a new partnership, teaming up with fellow Finovate alum upSWOT to bring embedded finance solutions to wealth managers and commercial loan brokers to help them serve their SME customers. UPTIQ raised $12 million in seed funding a little over a year ago in a round led by Green Visor Capital and 645 Ventures.

Share this:

Send Post Twitter LinkedIn Facebook

Cion Digital and upSWOT Team Up to Bring Embedded Finance Solutions to Commercial Loan Brokers

Cion Digital and upSWOT Team Up to Bring Embedded Finance Solutions to Commercial Loan Brokers
By David Penn Posted on
Categories: Alumni News, Cion Digital, Daily news, UpSwot
  • Cion Digital and upSWOT have teamed up to bring embedded finance and embedded business management solutions to commercial loan brokers.
  • Courtesy of the partnership, the two companies will enable wealth managers and commercial loan officers the ability to identify ideal financing solutions, as well as broaden their offering with new embedded financial and business management tools.
  • Cion Digital made its Finovate debut earlier this year at FinovateSpring. Making its Finovate debut in 2000, upSWOT returned to the Finovate stage in September for FinovateFall.

Cion Digital, which offers technology to help businesses find the right loan products that suit their needs, has partnered with fintech platform upSWOT. Together, the two Finovate alums will provide wealth managers and commercial loan brokers with embedded finance and embedded business management solutions. These tools will empower these businesses to offer their customers access to a wide variety of tools – including accounting, ERP, payroll, e-commerce, CRM, marketing, and POS business applications – via more than 200 API-enabled apps.

“Cion Digital is focused on using data and machine learning to help financial advisors and commercial loan brokers secure financing for their clients that meets their clients’ unique financial objectives and curate high-value relationships for lenders and financial institutions,” Cion Digital Chief Product Officer Taylor Adkins said. Adkins noted that the partnership with upSOT will make available a wealth of data sources and insights that can be used to further help business owners identify the financing solutions they need – as well as add to their offering with embedded finance and business management resources.

“Fintech has incredible power to dramatically reshape the success of SMBs,” upSWOT CEO Dmitry Norenko added. “The institutions that enable SMBs to take advantage of these dramatic shifts in technologies are institutions that care about their customers and ensuring that they will still be here in a decade.”

A Finovate alum since 2000, upSWOT most recently demoed its technology on the Finovate stage in September as part of FinovateFall. At the conference, upSWOT showed its white-label, digital-banking-embedded solution that connects to more than 200 integrated SaaS applications, delivering actionable insights, cash flow forecasts, and more. Earlier this month, the Charlotte, North Carolina-based fintech announced a partnership with Standard Chartered to launch a pilot project in Singapore that would give Standard Chartered’s SME customers intelligent forecasting capabilities. Founded in 2019, upSWOT has raised more than $5 million in funding.

Cion Digital demoed its Crypto Dealership Platform at FinovateSpring 2022. In October, the company launched its wealth advisor lending platform, which gives wealth management firms and registered investment advisors (RIAs) curated loan offers and a streamlined application approval process. The platform connects firms and advisors directly to banks and other lenders; the new offering supports not only traditional assets and securities but also crypto assets, as well.

Headquartered in Austin, Texas, and founded in 2021, Cion Digital has raised $12 million in funding. The company’s investors include 645 Ventures and Green Visor Capital.

Photo by fauxels

Share this:

Send Post Twitter LinkedIn Facebook

FinovateSpring 2022 Sneak Peek: Cion Digital

FinovateSpring 2022 Sneak Peek: Cion Digital
By Heather Stowell Posted on
Categories: Cion Digital, FinovateSpring 2022, FinovateSpring 2022 Sneak Peek

A look at the companies demoing at FinovateSpring in San Francisco on May 18 and 19. Register today and save your spot.

Cion Digital has developed the world’s first blockchain orchestration platform that helps businesses transact in cryptocurrency both through payments and lending.

Features

  • Standalone or integrated payments and lending platform
  • First crypto loan marketplace
  • Tools to extend traditional lenders into crypto lenders

Why it’s great

Cion Digital has developed the world’s first crypto lending marketplace.

Presenters

Abir Bandy, Senior Director of Product Marketing
Prior to joining Cion Digital, Bandy led the financial services marketing team at Talkdesk. He also has had a 10+ year career in financial services with Cappello Capital, Disney, Salesforce, and more.
LinkedIn

Fred Brothers, President & Co-Founder
Prior to starting Cion Digital, Brothers served as the EVP and Chief Innovation Officer at FIS. He also has had a 30+ year career in financial services with eCom, Checkfree, and more.
LinkedIn

Share this:

Send Post Twitter LinkedIn Facebook