Quantalytix, the provider of cloud-based Enterprise Bank Management (EBM) software for financial institutions, announced today that 22nd State Bank, with six branches located across Alabama, has partnered with the company to take lead in the bank’s data strategy.
Steve Smith, 22nd Bank CEO, said, “Community banks are generally last to adopt new practices. We are not a traditional community bank. At 22nd Bank, we are intentional when it comes to implementing new strategic initiatives that embrace using more innovative technology in our day-to-day processes. Quantalytix has built a unique solution that is not already on the market. It is a true enterprise management tool that accounts for various businesses and creates a dashboard that allows us to manage all our businesses together, not just the bank.”
This Quantalytix partnership helps streamline the ever-increasing amount of data financial institutions manage in an efficient and sophisticated manner, seamlessly integrating with existing systems and has built-in quality assurance checks and automation to ensure both integrity and quality while saving users’ time. Leveraging the Loan Portfolio Management platform, a component of Quantalytix’s Enterprise Bank Management software, 22nd State Bank can now use big bank analytics to better manage the bank, be more agile with technology, and to provide more competitive services to customers.
The solution, built specifically as part of 22nd Bank’s organization and configured into it, is designed to provide high levels of visibility into profit opportunities and customer relationships thereby enabling smarter decisions to be made across the entire organization. The platform acts as a single source of truth for loan portfolio reporting, analysis and profitability and consolidates data from all banking systems, encompassing everything 22nd Bank wants to accomplish.
Smith added, “I can easily see the rate of return in one snapshot of where my most profitable businesses are and what’s pushing those numbers, allowing me to quickly determine where I need to allocate resources. To be on the front end of this integration and to build out this tool alongside Quantalytix has been the biggest driver in this partnership.”
“Support solutions should not be one size fits all, and we understand that financial institutions have unique needs and processes,” said Chris Aliotta, Quantalytix Co-founder and CEO. “At Quantalytix, we focus exclusively on working with bank leadership to ensure the correct components are being measured and managed while providing immediate support and value. Working with 22nd Bank has not only allowed us to deeply embed with a technology forward bank, but additionally it has allowed us to build out a tool to help financial institutions succeed, propelling them to where they want to be.”
About 22nd State Bank
22nd State Bank was established in 1917 in Escambia County. It recently changed its name from First Exchange Bank of Alabama to 22nd State Bank. The bank provides consumer, private wealth management and business banking services in Central and South Alabama through its branch network and online banking service. 22nd State Bank has six branches located in Alabama including Mobile, Brewton, Eufaula, Louisville, Geneva and Clayton. For more information on 22ndStateBank.com, please visit or contact us at 251.445.3805.
About Quantalytix
Based in Birmingham, Ala., Quantalytix was founded by two former bankers who recognized a void in the current marketplace. In response, the company launched a cloud-based software and enterprise bank management platform that serves as a single-source of truth for reporting, analysis, and profitability to drive actionable analytics. The platform seamlessly integrates with existing business systems, automatically aggregates data and provides real-time views of performance to enable more efficient operations, improve the customer experience, increase profitability and boost productivity.
Working with both traditional and non-traditional lenders, more than $7 billion in loan volume is currently managed on the Quantalytix platform. The platform is SOC2 Type 1 compliant and includes built-in quality assurance checks and sophisticated security features to ensure the highest levels of data integrity.
Click here to learn more about Quantalytix or follow them on LinkedIn and Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20221011005399/en/