TIFIN India includes MyFI, an AI assistant
to help individuals achieve better wealth outcomes, as well as
TIFIN India Enterprise.
Aditi Kothari
Desai, vice-chair of the DSP group joins the TIFIN India
Enterprise board.
BOULDER,
Colo. and NEW YORK,
July 17,
2024 /PRNewswire/ -- TIFIN, a leading AI and
innovation platform for wealth, makes its international debut with
the launch of TIFIN India. The launch of TIFIN India represents an
important milestone in TIFIN's vision to take its expertise in both
direct-to-consumer (DTC) and business-to-business (B2B) AI for
wealth applications to global markets.
TIFIN announces international expansion
around its mission of using AI for wealth with the launch of TIFIN
India
The Indian market is unique in its potential for impact. As it
stands today, the penetration of wealth management in India is only 8% (compared to 72% in the U.S.
and 44% in China). With a
population of more than 1.4B
individuals, TIFIN expects over 500M
individuals to access wealth and asset management services in the
next 7 years. TIFIN India will be organized into two main
verticals, MyFi, an AI assistant to help individuals towards better
wealth outcomes, and TIFIN India Enterprise, which will build AI
native products for financial services firms.
TIFIN India Enterprise was launched in partnership with the DSP
family group, one of the oldest and most respected financial
services firms in India. In
addition to an investment from the DSP family group, Aditi Kothari
Desai, vice chairperson of the DSP Mutual Fund company, will serve
on the board of directors for TIFIN India Enterprise with TIFIN
Founder & CEO Dr. Vinay
Nair.
"I am thrilled to announce our strategic partnership with TIFIN
India Enterprise, marking a significant step towards bringing AI
into the realm of Indian fintech," said Aditi
Kothari Desai, vice chairperson of
the DSP Mutual Fund company. "TIFIN's deep expertise in
wealth AI, combined with DSP Group's unparalleled 160-year legacy
in the Indian financial sector and strong digital capabilities in
wealth tech, positions TIFIN India Enterprise as a formidable
venture. Our vision is to establish ourselves as the premier choice
for developing AI-driven wealth solutions, leveraging our
unparalleled blend of technological prowess and comprehensive
domain knowledge to ensure the success of every project and
product. We look forward to offering these innovative solutions to
financial intermediaries through our group company,
CompoundExpress, to start with."
Commenting on the launch, Vinay
Nair, Founder, Chairman & CEO, TIFIN said, "Our
vision is to leverage AI to help more people globally access better
financial advice. We are combining our global expertise in
verticalizing AI for wealth with local know-how. TIFIN India
leverages learnings from TIFIN's portfolio to build products that
are specifically tailored for Indian investors and financial
enterprises."
TIFIN India's strategy is well underway, as the firm announced
India's first conversational AI
assistant, MyFi, for long-term wealth creation. MyFi leverages
investment intelligence to generate personalized investment
guidance based on the user's investment portfolio for a segment
that cannot be addressed only through human interaction given the
sheer volume of investors.
About TIFIN
TIFIN is an AI platform for wealth. TIFIN creates and
operates companies that apply data science, AI, and technology to
address frictions in wealth and asset management. TIFIN's companies
have included 55ip (sold to JP Morgan), Paralel and
currently include Magnifi, TIFIN Wealth, TIFIN Give, TIFIN AG,
TIFIN AMP, Sage, Helix, and TIFIN @Work. TIFIN has been backed by
JP Morgan, Morningstar, Hamilton Lane, Franklin Templeton, and SEI among others.
Media Contacts
Michael Walsh
michael@therudingroup.com
AJ Boury
aj@tifin.com
The information contained herein should in no way be construed
or interpreted as a solicitation to sell or offer to sell advisory
services. All content is for informational purposes only.
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