Boston-based Verisk Analytics is a leading provider of catastrophe risk modeling solutions, which help individuals, businesses, and society become more resilient. Several organizations rely on its advanced science, software, and consulting services. In the most recent announcement, Verisk laid out its plans of acquiring India-based Fintellix. Both the companies have however failed to furnish the financial details for the agreement.
Today, most businesses are concentrating on amalgamating their enterprise-wide data capabilities, however, widening regulatory needs continue to prove a hindrance in managing the operations. Moreover, Verisk provides its solutions to address a variety of aspects such as catastrophe risk management, insurance-linked securities, site-specific engineering analyses, and agricultural risk management. With this acquisition, Verisk will be able to expand data hosting and address the growing requirements in a better manner.
As per the agreement, Fintellix will be a part of the Argus business. Financial institutions worldwide receive information, scoring solutions, and advisory services with the help of Argus. Both Argus and Verisk will realize a value addition because of integrating Fintellix’s advanced data management platform, along with its regulatory reporting expertise.
The acquisition will enable the organization in delivering better services and highly advanced solutions to its customers. Moreover, with this move, Verisk plans to expand and strengthen its foothold in India. Furthermore, this move will establish Verisk’s expertise in the field of data solutions across several geographies around the globe.
Fintellix essentially develops data management platforms and regulatory reporting solutions for financial institutions, and was founded in 2006. “Financial institutions leverage their current investments in core operating systems; and infrastructure in a robust, agile, and scaled manner; utilizing the potential of Fintellix’s proven solutions. The entire Fintellix team is excited about joining the Verisk family,” concludes Vivek Subramanyam, CEO, Fintellix.