FE fundinfo has acquired UK-based AI platform Lunar AI to bring AI-powered solutions to asset and wealth managers.
The group said the acquisition will strengthen FE fundinfo’s Nexus platform with advanced AI capabilities, enabling asset and wealth managers to unlock new levels of intelligence, automation and regulatory efficiency through AI-enhanced solutions.
Lunar AI’s founders and members of its AI team will join FE fundinfo, bringing their expertise in content automation, research and application development. They will establish an AI innovation hub, which FE fundinfo’s team leads on integrating the solutions.
Lunar AI uses large language models (LLMs) to enhance automation and data connectivity within the investment ecosystem. Founded in 2022, its platform enables asset managers to build custom AI-driven modules through a no-code interface, seamlessly integrating with multiple data sources, said FE fundinfo
AI is expected to have a significant impact on both asset and wealth managers, unlocking new competitive advantages through greater intelligence and efficiencies.
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Liam Healy, CEO at FE fundinfo, said: “The investment management industry is experiencing rapid transformation, with AI playing an increasingly crucial role in regulatory compliance, data integrity and operational efficiency. By leveraging Lunar AI’s innovative technology as part of our Nexus platform, we are strengthening our AI capabilities to better serve investment professionals. This technology will help FE fundinfo deliver on its commitment to simplify regulatory complexities, reduce manual effort and improve the accuracy of compliance workflows for our clients.”
Andrew Flook, CEO at Lunar AI, added: “We are excited to join FE fundinfo and contribute to its vision of empowering the investment industry through technology. We have always believed in thoughtful automation and AI to meet the needs of asset managers. Becoming a part of FE fundinfo will allow Lunar AI to further maximise the value of data for the investment community at a time when AI is increasingly being leveraged to gain a competitive advantage. We look forward to working closely with FE fundinfo’s team on this exciting journey. ”
See also: FCA to launch AI testing service
The deal follows FE fundinfo’s acquisitions of Matterhorn Reporting Services, AdviserAsset and Dericon in 2024.
This story was written by our sister title, Portfolio Adviser
