Linedata has completed the acquisition of NROAD, as it seeks to enhance its suite of tools for asset managers, credit institutions, and compliance teams through integrated artificial intelligence (AI).
Aashish Mehta
Specifically, NROAD works across the AI automation space, providing AI agents and solutions for processing financial data and its specialised AI agents, domain-specific solutions, and proprietary CONVUS platform will be integrated into Linedata’s portfolio.
The move is set to help Linedata clients to streamline operations, reduce costs, and uncover deeper insights, according to the business.
“Linedata’s global reach and established infrastructure will allow us to expand the reach of our AI solutions, accelerate our growth, and, more importantly, fast-track innovation and create additional value for our clients,” said Aashish Mehta, founder and chief executive of NROAD.
The acquisition is set to expand Linedata’s reach across the US market, leveraging NROAD’s regional presence and existing clients – including global banks, rating agencies, and payment processors.
Anvaraly Jiva, founder and chief executive of Linedata, said: “NROAD’s AI-powered financial data processing expertise perfectly aligns with our strategic vision, allowing us to deliver exceptional value to our clients.
“Aashish and his team of seasoned executives, including data scientists and AI experts bring extensive experience in building and marketing successful fintech solutions for enterprises, which will be key in integrating and promoting a combined offering.”