- Banking software firm Alogent has acquired document imaging and tracking software company AccuSystems.
- Terms of the deal were not disclosed.
- Adding AccuSystems’ technology will help Alogent expand to new market segments.
The acquisition combines two players in the enterprise content and information management space and expands the automation capabilities Alogent makes available to its bank and credit union clients. This is especially important because having a centralized data and document management platform that offers data analysis is becoming table stakes for financial institutions.
“The addition of AccuSystems to our process automation suite allows us to extend workflow experiences to new market segments with complementary capabilities proven to drive higher asset growth, improved efficiencies, and profitability for banks and credit unions,” said Alogent CEO Dede Wakefield.
AccuSystems Founder and CEO Alan Wooldridge said that the acquisition will help AccuSystems become “more impactful” by providing clients with “increased access to resources and an expanded banking ecosystem of solutions.”
Headquartered in Colorado, Accusystems provides bank document imaging and management to help banks increase control, accountability, and efficiency. The company’s imaging, exception, and loan approval workflows work with more than 30 cores and loan origination solutions and are used by more than 15,000 financial institutions. The company was founded in 1996 by Mel Hatch.
Alogent’s enterprise content and information management solution helps banks replace paper-based processes and automate workflows. Owned by Goldleaf Financial Solutions, Alogent was founded in 1995 and its other acquisitions include Finance Genius, Finovate alum Jwaala, and Bluepoint Solutions.