PureFacts Financial Solutions is taking over the Zurich-based firm Quartal Financial Solutions, as detailed in a press release. The Canadian WealthTech provider specializes in solutions for fees, reporting and predictive analytics on the basis of Artificial Intelligence (AI). Quartal is also active in this area. The company offers billing and commission solutions for the finance and insurance industries.
Together, the two companies will provide “the most powerful fee platform in the global financial marketplace”, according to information in the press release. Among other aspects, the merged company will display core competencies in the areas of data aggregation and machine learning.
The primary headquarters of PureFacts will, according to the press release, remain in Toronto, Canada. However, the company’s European headquarters will be established at Quartal’s Zurich office.
“Joining forces with PureFacts will significantly accelerate our joint journey to becoming a truly global market and mindshare leader in the fee and commission management domain, allowing us to better service our clients globally”, comments Thierry Zuppinger, CEO of Quartal Financial Solutions, in the press release. Following the takeover, Zuppinger will take on the role of General Manager Europe and Asia for the merged company.