SEI Invests $10M in AI Platform
SEI Investments Company, an Oaks, PA-based fintech company that oversees approximately $1.4 trillion in assets, is investing $10 million in TIFIN, an innovation platform designed to speed up wealth managers’ use of artificial intelligence.
The partnership will cover areas such as weighing up new ideas to find ways to build or co-invest in opportunities, sharing best practices and resources to keep abreast of AI changes, and developing and finding talent in this space.
“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,” said Sneha Shah, head of new business ventures at SEI.
Boulder, CO–based TIFIN was founded in 2018 as a fintech studio and evolved into an operating business in 2020. It is now made up of many companies, including 55ip (sold to JP Morgan), Magnifi, TIFIN Wealth, TIFIN Give, TIFIN AG, TIFIN AMP, Helix, TIFIN @Work, and Sage.
The company has been backed by JP Morgan, Morningstar, Hamilton Lane, Franklin Templeton, Motive Partners, and Broadridge among others.