Financial software provider Linedata has announced the acquisition of France-based AI-platform developer DreamQuark . Specifically, DreamQuark is focusing on the development of artificial intelligence (AI) platforms and services specifically designed for the financial services industry.

This move is aimed at broadening Linedata's presence in important sectors such as asset management, savings, and insurance. DreamQuark brings to the table its specialised knowledge and extensive partnerships with prominent entities such as Royal Bank of Scotland and Gambit Financial, which is anticipated to strengthen Linedata's position in the market. Among the solutions offered by DreamQuark are augmented advice, enhanced compliance tools, intelligent document search functionalities, and efficient ESG (Environmental, Social, and Governance) data acquisition systems.

These offerings are designed to facilitate various aspects of financial services operations while ensuring appropriate risk management in AI use. What else has been going on with Linedata? In February 2024, Linedata announced a partnership with Conduit Security, which is a cybersecurity technology firm from the US. At the time, the collaboration aimed to strengthen Linedata’s security measures for its investment management clients by integrating advanced capabilities to detect wire fraud into its existing Linedata Protect offering.

With the Securities and Exchange Commission (SEC) introducing new compliance regulations regarding cybersecurity incident disclosures, especially in the context of the evolving cyber threat landscape and advancements in artificial intelligence, the ability to detect and counter threats has become increasingly crucial for investment firms. By incorporating Conduit’s advanced detection technology into Linedata Protect, investment management clients gained access to a comprehensive solution capable of addressing current cybersecurity threats while tackling emerging and evolving threats such as wire fraud and deep fakes. .