TIFIN, an AI and innovation platform for wealth, has marked its international debut with the launch of TIFIN India, with plans to help consumers in the region access better financial advice.
TIFIN India comprises 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.
The wealth platform has launched TIFIN India Enterprise with backing from DSP Mutual Fund, an India-based financial services firm. In addition to the investment, Aditi Kothari Desai, the fund’s vice chairperson, will serve on the board of directors for TIFIN India Enterprise, alongside TIFIN founder and CEO Vinay Nair.
TIFIN explained that the launch is a first step to take its expertise in direct-to-consumer (DTC) and business-to-business (B2B) AI for wealth applications to global markets.
Vinay Nair, founder and CEO of TIFIN
Currently, the penetration of wealth management in India sits at a lowly eight per cent (compared to 72 per cent in the US and 44 per cent in China). With India’s population of over 1.4 billion, TIFIN expects over 500 million to access wealth and asset management services in the next seven years.
CEO Nair discussed the launch: “Our vision is to leverage AI to help more people globally access better financial advice. We are combining our global expertise in verticalising AI for wealth with local know-how. TIFIN India leverages learnings from TIFIN’s portfolio to build products specifically tailored for Indian investors and financial enterprises.”
TIFIN’s AI wealth assistant
TIFIN India’s strategy is already well underway, with the launch of India’s first conversational AI assistant, MyFi, for long-term wealth creation. MyFi leverages investment intelligence to generate personalised investment guidance based on a user’s investment portfolio for a segment that cannot be addressed only through human interaction given the sheer volume of investors.
“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,” explained Kothari Desai. “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.”
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