New Delhi, June 13 -- Credit rating agency ICRA has announced that it has signed a definitive agreement to acquire Bengaluru-based Fintellix, a technology company offering risk and reporting solutions to financial institutions globally.
Fintellix specialises in regulatory risk, supervisory reporting, and data analytics. Its proprietary data platform helps financial institutions meet compliance requirements and manage data effectively while delivering analytical insights.
Commenting on the acquisition, Ramnath Krishnan, Managing Director and Group CEO of ICRA, stated: "With this acquisition, we reiterate our commitment to being a leading player in risk technology. The regulatory landscape is evolving rapidly, and we believe the combined strengths of Fintellix and ICRA will be well placed to meet the changing demands of financial markets."
Shailendra M, Chief Executive Officer of Fintellix, said: "This is an important milestone for Fintellix. Our product innovation and global experience will now be supported by ICRA's scale, reputation, and deep expertise in financial risk."
ICRA said the acquisition would enhance its suite of credit risk assessment and monitoring tools. The group currently offers credit risk software, early warning systems (EWS), and asset classification tools. The addition of Fintellix is expected to bring advanced risk reporting capabilities to the portfolio.
Published by HT Digital Content Services with permission from TechCircle.