Scottish fintech AutoRek has forged a partnership with US-based financial reporting and compliance services provider iSoftware4Banks.

Under this partnership, the companies intend to accelerate automation and return on investment (ROI) delivery in the financial services sector.

AutoRek and iSoftware4Banks will combine consultants with data management technologies to meet this common goal.

The partnership comes after the Covid-19 pandemic moved the office-based financial services industry to a work from home set up.

Working remotely has surfaced many operational issues across banks, credit unions, and other financial institutions.

Founded in 2012, iSoftware4Banks is headquartered in Miami, Florida, in the US.

According to its website, the company provides its clients with business development, strategic planning, and implementation support for various software solutions.

iSoftware4Banks CEO Vincent Raniere said: “We are delighted to be partnering with AutoRek to offer excellence in financial and operational controls to meet regulatory and compliance requirements.

“In-depth market research confirmed AutoRek’s solution is the best on the market, and we look forward to working together.”

Established in 1994, AutoRek provides financial controls, regulatory reporting and data management solutions to many organisations globally.

It has offices in Edinburgh, London and New York.

AutoRek head of partnerships Marc McCarthy said: “Our partnership with iSoftware4Banks comes at a crucial point of this year.

“As financial services firms consider their 2021 budgets after a turbulent year of operational risk, they will inevitably seek optimal value, which together we are confident in delivering.”