Fintellix, a Bangalore-based provider of compliance solutions for the banking sector, has been purchased by Verisk Analytics.
The analytics provider has signed an agreement to acquire Fintellix, a data solutions company specialising in the development of data management platforms and regulatory reporting solutions for financial institutions. As part of the deal, Fintellix will become part of Argus, a Verisk Analytics business.
Argus is a provider of information, scoring solutions, and advisory services to financial institutions across the globe. Its client base ranges from financial institutions and their regulators to various companies across the media industry and beyond. It claims to maximize the value of data by transforming it into insightful information and analysis that assist our clients in understanding their market contribution, managing and mitigating risk (default, fraud, funding, and compliance), and capitalising on their financial objectives.
Nana Banerjee, group president at Verisk Analytics, said: “Companies across the globe are looking to integrate their enterprise wide data capabilities while addressing the broadening regulatory requirements of the markets in which they operate. The acquisition of Fintellix positions Verisk and Argus to expand our data hosting and regulatory platforms and better address the increasingly complex needs of our clients.”
Founded in 2006, Fintellix enables ‘agility in risk and regulatory reporting practices’ in enterprise banks and lowered cost of compliance. The company’s products include Fintellix Compliance, which provides regulatory reporting, Fintellix Risk, and Fintellix Analytics. It also provides information management services, such as strategy consulting, architecture consulting, design and development, and managed services.
Copyright © 2017 RegTech Analyst
Copyright © 2018 RegTech Analyst