Linedata (Euronext Paris: LIN), a global provider of asset management and credit technology, data and services, today announces the acquisition of DreamQuark, a renowned French startup focused on developing artificial intelligence (AI) platforms and services for the financial sector specializes in the service sector.
Established in the artificial intelligence market to improve operational efficiency for leading banks, Linedata expands its influence into critical sectors such as asset management, credit and insurance through this acquisition. Supported by DreamQuark’s expertise and sustained collaboration with companies such as Royal Bank of Scotland and Gambit Financial, these synergies create a unique presence in the industry and are intended to improve management processes for both front and back office operations.
“At the heart of this alliance is a shared vision of the critical importance of artificial intelligence for the financial sector, coupled with a perfect synergy of values and technology,” explains Timothée Raymond, Head of Business Development. “This acquisition allows us to integrate ten years of technological know-how in AI and complement Linedata’s expertise in this area. Bringing together DreamQuark’s talents with those of Linedata opens new avenues to provide our customers with innovative solutions to their business challenges.”
Since its founding in 2014, DreamQuark has distinguished itself by developing its AI engines, particularly its SaaS Next Best Action (NBA) solutions, which increase advisor and client satisfaction by identifying and prioritizing actions to take facilitate. The solutions provide enhanced advisory, stronger compliance, intelligent document retrieval and efficient ESG data capture, while ensuring proper management of AI-related risks.
These technologies integrate seamlessly with Linedata’s existing software, such as the Linedata AMP platform and its Accumen module to optimize portfolio management; and will also be the basis for the development of new innovative solutions.
Nicolas Meric, CEO of DreamQuark, added: “We are delighted to be joining Linedata and look forward to bringing our expertise and energy to our customers. We are committed to providing them with high-quality solutions based on generative AI and addressing the challenges of integration into the asset management, insurance and lending industries.