Trellance acquires OnApproach
To build and harness the power of data analytics for credit unions
TAMPA, FL (February 8, 2019) — 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.
Trellance is the leading provider of data and business intelligence solutions for credit unions and community banks. The company’s solutions and services, together with the patented common data model of its signature M360 product, are used by financial institutions to find actionable insights, improve customer experience and achieve portfolio growth. Founded in 1989, Trellance is headquartered in Tampa, Fla. and serves more than 1,500 organizations throughout the United States.
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.