Acquisition of the Asian firm adds another string to Finantix's bow.

Financial technology house Finantix has bought smartfolios, a Singapore-based business creating quantitative-based investment tools suitable for digital wealth advisors.

The two firms will build a range of investment tools that, among other things, create robo-run portfolios that suit individual needs, fine-tune investments and analyse how investments perform.

The cost of the acquisition wasn’t disclosed.

Finantix provides end-to-end digital wealth advisory services and hybrid robo-advisory solutions to wealth managers, top tier private banks and insurers in more than 40 markets. In smartfolios’ case, it is described in a statement as a “quant-enabled advisory and investment platform providing investors access to superior investment portfolios and strategies”.

In October last year Finantix launched Finantix AI Gears for Wealth, a service including lead generation, automated client profiling and know-your-client, portfolio and financial planning optimisation, suitability and cross-border rule enforcement, next best action determination, news tagging and content personalisation.