Franklin Templeton buys fintech firm Random Forest Capital
Franklin Templeton Investments has acquired the fintech start-up Random Forest Capital with the aim of boosting the firm’s fixed income capabilities.
The deal involves that the capabilities of Random Forest Capital will be incorporated into the Franklin Templeton fixed income unit.
San Francisco-based Random Forest Capital, founded in 2016, uses machine learning and statistical algorithms to analyse data gleaned from primarily non-bank, tech-focused, web-based platforms that originate secured and unsecured debt.
Random Forest has also created a scale infrastructure in the cloud that allows them to process a huge amount of unstructured data to obtain key information and extract predictive models from them.