Amberoon Launches Statum KPI on IBM Cloud Catalog to Simplify Performance Management at Smaller Banks
Innovative no-code solution makes modern AI technologies easily accessible, with special pricing for MDIs
Cupertino, CA, March 23, 2022: Amberoon, which develops state-of-the art compliance, performance enhancement and privacy management solutions for banks and credit unions, today announced that its Statum KPI SaaS application is now available for purchase on the IBM Cloud Catalog. Amberoon will also offer discounted pricing to organizations defined by the Federal Deposit Insurance Corporation (FDIC) in its Statement of Policy as Minority Depository Institutions (MDIs). The new placement offers easier access to the technology, which helps small banks directly measure and manage their performance against peer institutions by using a no-code SaaS model. Amberoon Statum KPI represents the best of modern technologies that are often outside the reach of smaller banks: It leverages advances in artificial intelligence, data engineering and forensic analysis to develop value-added insights on performance patterns across multiple institutions, and offers sharp insights into the future to support decision-making.
In effect, Statum KPI delivers big bank technology to small banks. It helps them benchmark performance against peer banks and across time, enabling these organizations to determine root causes for performance degradation and promptly take corrective action. The branch optimization function provides contextual data from external sources to help management boost branch-level performance. Statum has a proprietary rating system that can help organizations pinpoint specific problem areas, and has proven to be an accurate predictor of future performance.
Just as IBM Cloud itself offers a broad range of services encompassing storage, networking, database, analytics, machine learning and more, IBM Cloud Catalog features nearly 400 starters and services easily organized to support a variety of business needs.
“It’s a privilege to have Statum KPI available on this platform, which is the perfect environment for our technology,” said Shirish Netke, founder and CEO of Amberoon. “It’s our mission to make modern tools available to smaller banks—these institutions represent the last mile of the banking system and provide critical services to their local communities, but don’t have the technical resources to deploy sophisticated solutions designed for corporations with big IT departments. That’s why IBM Cloud is the ideal option for innovative applications like ours, and we look forward to a long and successful relationship with this great company.”
"Smaller banks can face more significant challenges than ever before, and the tools to identify, analyze and respond to those issues can play a critical role in determining their future. At IBM, we encourage and welcome innovative products from all our partners, and the IBM Cloud Catalog is designed to offer them as integrated billing services which enable users to create an instance of those services. We welcome Amberoon Statum to the IBM Cloud Platform and invite financial services providers from around the country to explore this solution and others in our catalog." said Padma Chukka, Director, Cloud Ecosystem.
The banking industry has gone through many changes, from market shifts to strict compliance, in just the past two years. Meanwhile, traditional metrics for peer comparison can hide the impact of PPP loans, CECL and LIBOR. Current conditions—such as changes in interest rates and ongoing M&A activity—require speed and flexibility in managing KPIs and defining what is measured and analyzed. Most available solutions provide only raw data, not specific insights that can drive executive decisions. As a result, small banks are often forced to use labor-intensive solutions that rely on spreadsheets.
Statum KPI changes this dynamic by giving smaller banks—there are nearly 5,000 around the country—a unique outlook 18 months into the future. Statum KPI forecasts are based on decades of historical data, and the solution enables organizations to determine their peer group based on specific business goals and priorities—a true ‘apples to apples’ comparison. A peer group may be defined by geography, market focus, asset size, performance metrics or any combination of those parameters. With its Agile Risk Analytics system, these institutions are able to continuously measure, monitor and manage their business risk.
About Amberoon Amberoon develops state-of-the art compliance, performance enhancement and privacy management solutions for banks and credit unions. Amberoon solutions leverage AI/ML advances using a no-code SaaS model and a risk-based approach within an Agile Compliance framework to reduce operational risk from financial crimes. Visit amberoon.com
About IBM IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM's legendary commitment to trust, transparency, responsibility, inclusivity, and service.