New York, NY, June 27, 2015 --(PR.com
)-- Standardization of banking supervision is driving change across the banking industry globally, especially standardization in financial reporting, measurement and management. These initiatives have been steadily expanding the regulatory burden on banks and increasing the cost of regulatory compliance. The Ardmore Banking Advisors and Fintellix alliance was created to address the need for a comprehensive solution that can help community banks more easily manage their regulatory compliance matters, and enable bank management to focus on business growth and profitability.
Since 2006, Fintellix has been providing software solutions based on next generation technology to help progressive banks across Asia, Europe, Middle East and Africa leverage their data to enable growth and automate regulatory compliance. Fintellix has emerged as a global banking regulation expert having enabled regulatory compliance transformation for over 30 banks in 12 countries and 4 continents, including the overseas operations of 2 top US banks.
For over 25 years, Ardmore Banking Advisors (“Ardmore”) has assisted hundreds of community banks through the delivery of credit review, strategic and risk consulting, and more recently stress testing, credit portfolio management and ALLL methodology. Ardmore’s founder and leadership team have previously served at the executive level in leading community banks and are deeply committed to helping strengthen the community banking system.
The Fintellix - Ardmore partnership is a unique ‘global/local’ alliance that combines global expertise, local experience, and next generation solutions to lower the cost of compliance for community banks. Through this alliance, Ardmore offers to community banks a CECL-ready ALLL solution powered by a comprehensive credit data warehouse as Software as a Service (SaaS). Ardmore’s seasoned credit professionals ensure that the ALLL solution is tailored for each bank’s specific needs and business model.
Anup Pai, COO of Fintellix comments: "In today’s globalized world, small banks can learn from the experience of larger banks as well as those in other geographies who have already complied with guidelines they are currently faced with. Such adoption of best practices has enabled our customers to reduce the cost of compliance by over 50%. We understand that only global expertise is not enough – a deep understanding of how banking is conducted locally is very important. We are very pleased to partner with Ardmore Banking Advisors – a blue-chip expert in solutions for community banks, to provide this local expertise."
TA (“Sandy”) Spratt, founder & CEO of Ardmore Banking Advisors added: “Our guiding principle has always been to provide value for our clients through long term customer relationships. We’ve invested almost a year to assist Fintellix to ensure their solution is a good fit for US community banks. What impressed us was Fintellix’s depth of experience and forward thinking that enables collaboration between credit and finance in the ALLL process. We are enthusiastic about how this advanced solution will assist the community banking market.”
About Fintellix Solutions, Inc.
Headquartered in Bangalore, India and with offices in Mumbai, Manila, Johannesburg, Dubai and New York, Fintellix is a leading Compliance, Risk & Analytics (CRA) Products and Solutions provider for the global Financial Services industry. Fintellix's Banking solutions are available for on-premises implementations as well as provisioning from a Regional Cloud Infrastructure. Fintellix is currently active in India, US, Europe, Middle-East, Africa and South East Asia; and has some of the Global Top 50 Banks and leading Global/ Regional Banks as clients. www.fintellix.com
About Ardmore Banking Advisors
Ardmore Banking Advisors, headquartered in Ardmore Pennsylvania is a financial institutions market leader in risk management consulting, recognized for its expertise in loan review, risk consulting, and credit automation that delivers value-added results to community banks. Since its inception in 1991, Ardmore has provided risk management consulting services to hundreds of banks nationwide, and built an unparalleled reputation for integrity and expertise with both clients and regulators. www.ardmoreadvisors.com