ArthaYantra is on Gartner's list of innovative companies

Global consulting firm Gartner has selected Hyderabad-based full-service robo advisor ArthaYantra as Cool Vendor India for the year 2016 for digital innovation in artificial intelligence and machine learning.

Every year, Gartner selects firms across the world which innovate in five different areas — technology, use of technology, business model, transformative nature and newness.

"ArthaYantra is India's first company to introduce algorithm-based robo advisor (a class of financial advisor) services. ArthaYantra aspires to cover all major aspects of personal financial needs with its offering, compared with other wealth investment service providers that focus on only a particular area of finance, such as security investments or real estate purchases," Gartner said in its report.

ArthaYantra uses proprietary frameworks using artificial intelligence and machine learning to deliver financial advise to individuals in India. It currently has over 90,000 registered users from 650 cities in the country and over 30 countries. It offers goal-based financial advice accessible to all through Arthos, its proprietary software, by connecting all aspects of an individual's financial life.

"The recognition from Gartner is an endorsement to the fact that we can deliver best in class financial advise to everyone using cutting edge technology," Nitin Vyakarnam, founder and CEO of ArthaYantra, said.