US fintech vendor Fiserv has acquired BancIntelligence, an Atlanta-based provider of online financial and market analysis to financial institutions. Financial terms of the acquisition were not disclosed.
Founded in 2000, BancIntelligence provides banks with online access to financial and market analysis.
Fiserv says BancIntelligence's automated analysis and Web-based strategy development are used by more than 500 clients across the US. The firm's BancAnalyst Financial and BancAnalyst Market online tools deliver real-time custom analyses to identify where banks can best allocate resources to optimise profitability.
Commenting on the acquisition, Norm Balthasar, Fiserv senior EVP and COO, says: "In a relatively short time BancIntelligence highly relevant analysis and advice has become an integral part of their clients' management process.
"Through a combination of real time analysis and advice they provide objective, actionable and quantifiable recommendations to help clients optimize market performance. The expertise that BancIntelligence provides is a great fit into our mission of enabling best-in-class results for our clients."
BancIntelligence founder Steve Cotton and the entire management team will remain with the business as it moves to Fiserv.