Linedata announces acquisition of AI startup DreamQuark

DreamQuark’s software-as-a-service AI systems will now upgrade Linedata’s technology offer to clients

Linedata, a global provider of asset management and credit technology, data, and services, has announced the acquisition of DreamQuark, a renowned French startup specialising in the development of artificial intelligence (AI) platforms and services for the financial services sector.

Solidly established in the artificial intelligence market to improve operational efficiency for leading banks, Linedata extends its influence through this acquisition into critical sectors such as asset management, credit, and insurance. Enhanced by DreamQuark’s expertise and sustained collaborations with entities such as Royal Bank of Scotland and Gambit Financial, these synergies create a unique presence in the industry and are designed to improve management processes for both front and back-office operations.

Since being founded in 2014, DreamQuark has distinguished itself through the development of its AI engines, notably its SaaS NBA (Next Best Action) solutions, which enhance the satisfaction of advisors and clients by facilitating the identification and prioritisation of actions to be taken. The solutions offer enhanced advising, strengthened compliance, smart document retrieval, and efficient acquisition of ESG data, all while ensuring proper management of AI-related risks.

These technologies seamlessly integrate into Linedata’s existing software, such as the Linedata AMP platform and its Accumen module dedicated to portfolio management optimisation; and will also be the foundation for the development of new innovative solutions.

Timothée Raymond, head of business development at Lineheart, said: “At the heart of this alliance lies a shared vision of the critical importance of artificial intelligence for the financial sector, along with a perfect synergy in both values and technology. This acquisition enables us to incorporate ten years of technological know-how in AI, complementing Linedata’s expertise in this area. The merging of DreamQuark’s talents with those of Linedata opens new avenues to offer our clients innovative solutions to their business challenges.”

Nicolas Meric, chief executive officer of DreamQuark, added: “We are thrilled to join Linedata and look forward to bringing our expertise and energy to their clients. We are eager to provide them with high-value solutions based on generative AI and tackle the challenges of integrating it into the asset management, insurance, and credit sectors.”

Images: Linedata, DreamQuark

Robert Welbourn Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.