AI-Powered Merchant Bank ITTIKAR Aims to Reshape Family Office Investing

ABU DHABI, UAE – November 20, 2025

Mondevo Group is taking a bold step into the future of wealth management with the launch of ITTIKAR, an AI-native merchant bank specifically designed for family offices. Set to begin operations in Q1 2026, and headquartered in Abu Dhabi Global Market (ADGM), ITTIKAR promises a paradigm shift in how ultra-high-net-worth individuals and families access private markets and deploy capital. The firm's core differentiator? A dedicated AI agent for each client, moving beyond the product-centric approaches common in today’s fintech landscape.

The Rise of the AI-Powered Family Office

ITTIKAR’s arrival signals a growing trend: the integration of artificial intelligence into the traditionally relationship-driven world of family office investing. Mondevo Group asserts that the platform’s AI agents will not simply execute trades, but act as proactive, personalized advisors, continuously learning from each family's unique investment history, preferences, and risk tolerance. This ‘segment-driven’ approach contrasts sharply with many existing AI solutions in wealth management, which often focus on automating specific tasks or providing standardized investment recommendations.

“The existing solutions are largely product-focused,” explains a source close to the project. “ITTIKAR aims to deliver a truly bespoke service, with AI acting as an extension of the family office, anticipating their needs and proactively sourcing opportunities.”

The potential benefits are significant. By automating due diligence, streamlining investment processes, and providing data-driven insights, ITTIKAR could unlock access to a wider range of private market opportunities and potentially generate higher returns. It also promises to reduce costs and improve efficiency, freeing up family office staff to focus on strategic decision-making and wealth preservation. However, a key question remains: can AI truly replicate the nuanced understanding and judgment of experienced human advisors?

Abu Dhabi’s Ambitious Fintech Vision

The selection of Abu Dhabi as ITTIKAR’s home is no coincidence. The Emirate is actively positioning itself as a global hub for fintech innovation, backed by significant investment in infrastructure, a supportive regulatory environment, and a commitment to fostering a thriving digital economy. ADGM, in particular, has emerged as a leading fintech ecosystem, attracting companies from around the world.

“Abu Dhabi is committed to being at the forefront of technological advancement,” states a source within ADGM. “ITTIKAR’s launch aligns perfectly with our vision for a dynamic and innovative financial services sector.”

The Emirate’s commitment to AI extends beyond financial services. A significant investment into becoming the ‘first AI-powered government’ underscores their desire to become a leader in the space, paving the way for a regulatory environment conducive to AI innovation. This creates a supportive ecosystem for companies like Mondevo Group, allowing them to experiment and scale their solutions.

However, success will depend on navigating the complexities of a highly regulated environment and building trust with discerning family office clients. Establishing a strong track record of performance and demonstrating a commitment to data security and privacy will be crucial.

Beyond Automation: The Human-AI Partnership

While ITTIKAR’s AI agents are designed to automate many aspects of the investment process, the company emphasizes that it is not about replacing human advisors entirely. Rather, the goal is to create a collaborative partnership between AI and human expertise.

“The AI will handle the routine tasks, the data analysis, and the due diligence,” explains a source familiar with the platform’s development. “This will free up human advisors to focus on building relationships with clients, understanding their long-term goals, and providing strategic guidance.”

This ‘augmented intelligence’ approach is gaining traction across the financial services industry. By combining the power of AI with the empathy and judgment of human advisors, companies can deliver a more personalized and holistic wealth management experience. However, the success of this approach hinges on effectively integrating AI into existing workflows and ensuring that human advisors have the skills and training to leverage its capabilities.

Mondevo Group, through the development of MonTech and the acquisition of Meight, has created a specialized team dedicated to this integration. This team, led by Cristiano Motto, will be pivotal in not only developing ITTIKAR, but in maintaining its competitive edge and adapting to a rapidly evolving AI landscape.

Mondevo Group claims to manage approximately $6 trillion in assets through its existing relationships with over 120 family offices, and the company views ITTIKAR as a catalyst for further growth and innovation. The firm is betting that its unique AI-powered approach will resonate with family offices seeking to optimize their investment strategies and secure their financial future. However, the ultimate test will be whether ITTIKAR can deliver on its promise of personalized, data-driven wealth management and establish itself as a leading force in the global family office market.