Jason Schwabline, Chief Strategy Officer, Alogent

US-based Alogent, a banking and financial software provider for banks, credit unions in the US, and a subsidiary of GoldLeaf Enterprise Payments, Inc. has announced that they will be acquiring FinanceGenius suite of lending software from IntelliEngines, Inc., a business process automation provider for an undisclosed amount.

The cloud-based software suite, which will now be marketed under the new name Origins automates consumer lending and streamlines the loan origination process for financial institutions and retail lending. With an end-to-end, fully scalable mobile, online and digital experience, consumers gain simplicity and speed, maximizing decisions and business opportunities for banks and credit unions.

Jason Schwabline, Alogent’s Chief Strategy Officer commented on the benefits of the acquisition as the new addition to Alogent’s product portfolio aimed at strengthening the company’s banking and enterprise information management solutions. The product will give customers to choose how they want to engage with their banks and financial institute – online, in-branch or by phone while streamlining the workflow for the institutes.

“The FinanceGenius software is a competitive cloud-based consumer lending product that has been deployed by financial institutions seeking to automate and streamline their operations,” said Tejas Vakil, CEO of IntelliEngines, Inc. “Alogent’s commitment to innovation and user experience makes the addition of this suite to its technology stack a natural fit, and will position the company to be a leader in lending to financial institutions, as well as in the fast-growing segment of retail or point-of-sale lending.”

by Megha Bhattacharya
Market Analyst at IBS Intelligence