To Build and Harness the Power of Data Analytics for Credit Unions
Trellance today announced its acquisition of OnApproach. The acquisition combines two leading Credit Union Service Organizations (CUSO) to become the industry’s leading data analytics provider to credit unions nationwide.
The acquisition agreement closed on February 8, 2019, with unanimous approval by Trellance’s Board of Directors. President & CEO of Trellance, Tom Davis, said, “We continue to recognize the importance of data analytics in providing insights to drive results today and into the future. With this acquisition, Trellance in conjunction with OnApproach, will allow credit unions to use real-time data to increase efficiencies, manage risks and enrich relationships with their members.”
Chief Executive Officer at OnApproach, Paul Ablack, said, “Our goal at OnApproach since 2005 has been to provide credit unions with the means to transform their data into actionable goals. With the 30 years of experience working alongside credit unions that Trellance brings to the table, we are excited to collectively harness the power of data. Credit unions have incredible opportunity with data, and this partnership with Trellance will help to accelerate analytics adoption for the credit union industry. At OnApproach, we believe that credit unions should have full access and ownership of their data. By combining forces with another reputable CUSO, we are proud to continue empowering credit unions with the tools and data required to properly serve members and grow their businesses.”
This combination will offer a comprehensive blend of predictive analytics by harnessing the unique powers of each team that will provide credit unions powerful and customizable data analytics to enhance the member experience.
The combined company will be led by a Board of Directors and leadership team with Tom Davis serving as Chief Executive Officer and Paul Ablack continuing to lead product development of M360.
More details about the acquisition will be provided during Trellance’s annual conference, IMMERSION19 on Thursday, May 9, 2019. The company’s prepared remarks will be followed by a question and answer session.
About Trellance: With over 30 years of experience in the payments industry and partnering with credit unions, Trellance continues to work towards ensuring that all those served by financial service cooperatives have access to exceptional data-driven products and services, while maintaining our commitment to foster growth. Being processor-neutral allows us to offer unbiased guidance and set us apart from our competitors.
About OnApproach: OnApproach is the only CUSO dedicated to credit union success through a collaborative analytics ecosystem. By providing a secure and frictionless data experience, OnApproach empowers credit unions to take full control of their own data and their own futures. We exist to serve the credit union movement with technology and expertise required for the digital transformation of the industry business model. OnApproach’s collaborative ecosystem enables communities of users, data scientists, and application developers focused on analytics innovation.