Quantalytix, the provider of cloud-based Enterprise Bank Management (EBM) software and its Enterprise Data Management (EDM) platform for financial institutions, announced today that it has partnered with three new state banking associations including Texas Bankers Association, Tennessee Bankers Association, as well as Illinois Bankers Association. These connections enable Quantalytix to extend its platform to reach nearly 1,025 community banks across the country.
Automatically examining a financial institution’s data lake, Quantalytix’s EDM platform identifies the most viable data components and migrates that information to a data mart, the foundational elements for training Artificial Intelligence (AI) and Machine Learning (ML), as well as basic reporting and analysis. By partnering with community banks, this collaboration is aimed to better understand their challenges with data. With the EDM platform, banks are then able to improve the consolidation and organization of data to enable more accurate reporting which supports both ‘at-time’ and historical transactional information.
“We strive to give our member banks all the resources they need to innovate, build strong competitive offerings and continue meeting customers’ ever-evolving experience demands,” said Colin Barrett, President and CEO of Tennessee Bankers Association. “Quantalytix’s platform is an ideal tool to offer our members, allowing them data accessibility and improving overall data quality.”
Bankers no longer need to rely on very manual, very complex processes to access data, which often yield inaccurate, faulty results. Quantalytix developed the EDM platform with community banks in mind, providing an automated solution that is sophisticated, yet simple to use, requiring no specialized resources or expensive data scientists to operate.
Christopher Aliotta, CEO and Co-Founder of Quantalytix, said, “We are delighted to continue building strong partnerships with state banking associations. Not only are these connections beneficial to the growth of our platform, but they also enable us to help advance the innovation capabilities of community banks nationwide. As we continue to extend the community within our network, this unlocks more opportunities for bankers to enjoy a frictionless approach to navigating data management.”
About Texas Bankers Association
Founded in 1885, the Texas Bankers Association is the largest state-based banking association in the US. TBA advocates for 400 of its member banks in Austin and Washington; trains more than 10,000 bankers annually; provides nationally recognized community bank services; and invests in Texas communities through financial literacy, scholarships, and charitable activities. For more information, visit https://www.texasbankers.com/.
About Tennessee Bankers Association
The Tennessee Bankers Association (TBA) is a trade association established to serve the needs of the state’s banks, thrift institutions, and trust companies. Among other activities, the Association provides continuing education, develops and monitors state and federal legislative agendas, disseminates information on all facets of the financial services industry, and promotes the public image of financial institutions. Today, more than 175 Tennessee banks, thrift institutions, and trust companies belong to the Association. In addition, TBA has more than 200 associate members. For more information, visit www.tnbankers.org.
About Illinois Bankers Association
The Illinois Bankers Association is the voice of Illinois’ banking industry, dedicated to creating a positive business climate that benefits the entire banking industry and the communities they serve. Founded in 1891, the IBA brings together state and national banks and savings banks employing more than 105,000 people in nearly 4,500 offices across the state. The IBA is proud of its diverse membership, serving all sizes of financial institutions from the smallest community bank in the state to the largest national bank in the country. For more information, visit https://illinois.bank/.
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.
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