Ardmore Banking Advisors & Fintellix Solutions Announce Strategic Alliance

Standardization of banking supervision is driving change across the banking industry globally, especially standardization in Financial Reporting under IFRS, Risk Measurement and Management practices under BCBS, etc.  These initiatives have been steadily expanding the regulatory burden on banks while mounting the cost of regulatory compliance. Ardmore Banking Advisors and Fintellix are proud to announce a partnership to provide an agile solution that can help US community banks easily manage their regulatory compliance matters, while keeping management focus on business growth.

For over 25 years, Ardmore has worked with over 100 community banks on matters of credit review, capital raising and more recently ,stress testing, credit portfolio management and ALLL methodology. Ardmore’s founders and leadership team have served as executives in leading community banks and regulatory agencies, and are deeply passionate about strengthening the United States financial services industry.

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 data to catalyse growth and automate regulatory compliance. Fintellix has emerged as a global banking regulation expert having enabled regulatory compliance transformations for over 30 banks in 12 countries and four continents, including the Asia operations of two top US banks.

The Ardmore-Fintellix alliance is a unique ‘Glocal’ alliance that combines global expertise, local experience, next generation solutions and overall lower cost of compliance for community banks. Through this alliance, Ardmore offers a futureproof, CECL-ready ALLL solution to community banks, powered by a comprehensive Credit Data warehouse available as Software as a Service (SaaS). The SaaS solution and associated services will be delivered by senior bankers with over twodecades of rich banking experience.

Speaking on the occasion, T. Alexander (Sandy) Spratt, Founder & Chairman of Ardmore Banking Advisors said, “Our ethos has always been to build value through long term customer relationships. We took over 8 months to gain a deep understanding of the Fintellix product and its fitment for our Community Banks. What impressed us was the futuristic thinking that enables collaboration between Credit and Finance in the ALLL process, the robustness of the Data Gathering and Management process, the Configurable Workflow aligned with the regulatory guidelines and the Document Management System that ensures audit readiness. We now look forward to continuing to deliver supreme value to the US Community Banks on a future ready software.”

Anup Pai, COO of Fintellix added, "In today’s globalized world, small banks across the world can learn from the experiences of larger banks as well as banks in other geographies who have already complied with guidelines which one is currently faced with. Such adoption of best practices has enabled our customers to reduce cost of compliance by over 50%. But, only global expertise is not enough – a deep understanding of how banking is conducted in each region is very important. We are very pleased to partner with Ardmore Banking Advisors – a blue-chip expert in solutions for Community Banks, especially in the Northeastern United States."