Operations management and analytics firm EXL has acquired IQR Consulting, a US-based provider of marketing and risk analytics solutions for the banking industry, for an undisclosed sum.

IQR will become a part of EXL Analytics as part of the deal and will maintain its delivery hub in the Indian city of Ahmedabad.

The deal will give EXL access to IQR’s global delivery model and marquee clients across the US, which in turn will help EXL speed up its analytics growth.

EXL vice chairman and CEO Rohit Kapoor said: “Analytics is a key growth driver for EXL, and we continue to build what is already a world-class franchise in the banking vertical. IQR has astutely figured out how to engage with clients in the super-regional bank and credit union markets.

IQR has expertise in developing predictive algorithms and real-time reporting tools to support clients’ decision-making process, EXL said. It offers actionable insights for clients from marketing optimisation and customer segmentation to scoring risk and predicting fraud.

“We look forward to expanding this largely under-penetrated segment, and believe we can help IQR’s clients achieve even greater success through the use of analytics.”

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IQR CEO Rahul Nawab said: “EXL is a world-class service provider to the banking industry and a recognized leader in analytics. We are excited to join with EXL and to deliver even greater value to our clients.”