Acquisition will extend Verisk’s expertise in development of products and data solutions designed to meet the regulatory compliance needs of financial institutions in multiple geographies
Verisk Analytics, Inc. (Nasdaq:VRSK), a leading data analytics provider, has signed an agreement to acquire Fintellix, a Bangalore-based data solutions company specializing in the development of data management platforms and regulatory reporting solutions for financial institutions. Fintellix will become part of Argus, a Verisk Analytics business.
The transaction is subject to the completion of customary closing conditions.
About Fintellix: Founded in 2006, Fintellix enables agility in risk and regulatory reporting practices in enterprise banks and lowered cost of compliance. Fintellix provides analytics, risk, and compliance solutions for the banking sector. It offers a banking data management infrastructure for data management and processing, content management and administration, and content and collaboration. The company also offers products such as Fintellix Compliance, which provides regulatory reporting, Fintellix Risk, and Fintellix Analytics. In addition, the company provides information management services, such as strategy consulting, architecture consulting, design and development, and managed services. For more information, please visit www.fintellix.com.
About Argus: Argus is a one-of-a-kind leading provider of information, scoring solutions, and advisory services to financial institutions across the globe. Our client base ranges from financial institutions and their regulators to various companies across the media industry and beyond. We 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 capitalizing on their financial objectives. Argus, a Verisk Analytics business (Nasdaq:VRSK), is headquartered in White Plains, New York, with additional offices in San Francisco, São Paulo, Sydney, Melbourne, and London. For more information, please visit www.argusinformation.com.
Source: Verisk Press Release
