Israeli Artificial Intelligence start up signs Japanese R&D deal
Nikko Global Wrap is a major Tokyo-based, international asset management company with over JPY2.3 trillion (approx. USD21.5bn) under management.
By JERUSALEM POST STAFFFintica CEO, Philippe Metoudi(photo credit: Courtesy)
After a successful trial for Japanese asset management giant Nikko Global Wrap, Israeli financial technology start up Fintica announced on Monday that it had reached an agreement to continue R&D collaboration with the firm.Nikko Global Wrap is a major Tokyo-based, international asset management company with over JPY2.3 trillion (approx. USD21.5bn) under management.“With markets proving to be especially volatile right now, more than ever investors need the ability to understand what’s going on, and get an insight into underlying trends, wading through vast amounts of data,” Fintica CEO, Philippe Metoudi, told The Jerusalem Post. “This is exactly what our technology provides and the chance to collaborate and develop this technology with a company of Nikko Global’s standing is a game changer,” he explained.Fintica is the fintech spinoff of renowned Israeli Artificial Intelligence company, Cortica. It has developed technology which uses artificial intelligence to analyze, understand and categorize market data for fund managers, investors and others in the industry. Earlier this year, Fintica was one of five Israeli financial technology startups selected by the Israel Securities Authority and the Israel Innovation Authority to be part of their Data Sandbox pilot program, established to promote innovation and competition in the market.A joint statement by Fintica and Nikko Global Wrap noted, “The collaboration announcement comes at a time of significant market volatility and turbulence, with companies around the world seeking to greatly improve their ability achieve a deeper understanding of changing market structures and conditions, and implement a pro-active and effective investment strategy management.”
