Elite Consulting Management Services and BankBI, a UK-based fintech, are pleased to announce a Memorandum of Understanding (MOU) with the intention to grow the Regulatory Reporting, Financial & Banking Performance Automation Solutions available to Caribbean Banks and Credit Unions.
The MOU enables the two organizations to further expand on the existing customer success in the region and to assist Banks, Credit Unions, and other Financial Institutions (FI’s) to identify operational efficiencies, reduce costs, improve profitability, and drive and manage performance goals with daily actionable insights and leading performance indicators.
"The traditional focus of senior managers in Banks, Credit Unions and other FI’s on tasks such as management reporting, accounting, and regulatory reporting, is shifting into the larger role of creating value and shaping the future of the financial institution. BankBI provides an innovative, data-driven foundation that enables financial leaders to transition to daily, real-time financial performance monitoring and management. Their teams, too, become more strategic and productive as a result of the business intelligence that’s at their fingertips.”
Roger Lake, CEO of Elite Consulting Management Services a.k.a Elite Consulting
Performance Management Decisions Informed by Daily Data-Driven Insights
The BankBI platform enables Caribbean financial leaders to better manage the overall financial performance of the institution by linking data from internal technology platforms and translating the data into insights that can reduce costs and drive profitability.
This includes automation of the regulatory returns to the Central Banks and the management reporting packs.
"We are excited to partner with Roger and his team at Elite Consulting Management Services. Roger brings over 30 years of experience in technology businesses and strong relationships across retail, commercial, private & investment banking in the region, as well as a particular knowledge and understanding of the challenges facing financial institutions. We look forward to bringing the advantages of automated daily access to data to provide that deeper level of insight into performance for financial institutions in the region, ultimately enabling them to make future-forward decisions needed to thrive and grow on behalf of their customers, shareholders, and members.”
Connor Blake, Director of International Business, BankBI
BankBI was born out of the desire to deliver the kind of analytics and automated management reporting long desired by the Banking and Credit Union industry, but which conventional methodologies were failing to deliver.
The vision was and is to leverage the efficiencies brought by cloud architecture to deliver an analytics application that is deployed remotely needing no local infrastructure or expensive skills, maintained centrally in a multi-tenant environment, and implemented quickly using a pre-configured data structure.
This finally provides management with the timely, trustworthy information they need, when they need it, and in a low-cost subscription model.
About Elite Consulting Management Services
Elite Consulting provides support for strategic planning, change management, digital transformation initiatives and process review.
Our consultants are experts in:
- Banking (retail, commercial, investment & private)
- Payment Systems
- Business Intelligence
- Management Information Systems (MIS)
- Business Analysis
- Project Management for Financial and Non-Financial Institutions, Advisory & Regulatory Bodies
Elite Consulting has clients in Canada, the Caribbean, Central America, and the USA.
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