TIFIN, a leading AI and innovation platform for wealth, makes its international debut with the launch of TIFIN India. The launch of TIFIN India represents an important milestone in TIFIN’s vision to take its expertise in both direct-to-consumer (DTC) and business-to-business (B2B) AI for wealth applications to global markets.
The Indian market is unique in its potential for impact. As it stands today, the penetration of wealth management in India is only 8% (compared to 72% in the U.S. and 44% in China). With a population of more than 1.4 billion individuals, TIFIN expects over 500 million individuals to access wealth and asset management services in the next seven years. TIFIN India will be organized into 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.
TIFIN India Enterprise was launched in partnership with the DSP family group, one of the oldest and most respected financial services firms in India. In addition to an investment from the DSP family group, Aditi Kothari Desai, vice chairperson of the DSP Mutual Fund company, will serve on the board of directors for TIFIN India Enterprise with TIFIN Founder & CEO Dr. Vinay Nair.
“I am thrilled to announce our strategic partnership with TIFIN India Enterprise, marking a significant step towards bringing AI into the realm of Indian fintech,” said Aditi Kothari Desai, vice chairperson of the DSP Mutual Fund company. “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. 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.”
Commenting on the launch, Vinay Nair, Founder, Chairman & CEO, TIFIN said, “Our vision is to leverage AI to help more people globally access better financial advice. We are combining our global expertise in verticalizing AI for wealth with local know-how. TIFIN India leverages learnings from TIFIN’s portfolio to build products that are specifically tailored for Indian investors and financial enterprises.”
TIFIN India’s strategy is well underway, as the firm announced India’s first conversational AI assistant, MyFi, for long-term wealth creation. MyFi leverages investment intelligence to generate personalized investment guidance based on the user’s investment portfolio for a segment that cannot be addressed only through human interaction given the sheer volume of investors.