Linedata acquires French AI startup DreamQuark

By Gloria Methri

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

Solidly established in the AI 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 are designed to improve management processes for both front and back-office operations.

“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,” states Timothée Raymond, Head of Business Development. “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.”

Since being founded in 2014, DreamQuark has developed multiple AI engines, notably its SaaS NBA (Next Best Action) solutions, which help advisors and clients by facilitating the identification and prioritization 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 optimization. They will also be the foundation for the development of new innovative solutions.

Nicolas Meric, CEO of DreamQuark, said, “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.”