FinTech solutions startup Core10 is acquiring financial analytics firm Accrue Technologies to bring new configurable lending and banking applications to community banks and credit unions, according to a press release on Wednesday (Oct. 6).
As a combined entity, the company will provide scalable FinTech tools that will bring user-friendly digital banking solutions to community banks, credit unions, FinTechs and consumers.
Core10 offers API integration and software-as-a-service (SaaS) implementation services to bridge U.S. talent with FinTechs and financial institutions (FIs) working to conquer the industry’s largest problems. Accrue’s banking platform was developed to help small- to medium-sized FIs compete in a digital-first ecosystem, and offers the technology afforded bigger banks without the bigger budget.
Built on the Salesforce platform, Accrue’s Accrue360 extends configurable lending and banking applications developed to meet the needs of community banks and credit unions.
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“By giving community banks and FinTechs the tools to compete and providing access to high-quality talent resources, the merger of Accrue and Core10 makes it easier for banks to deliver the customer experience their clients expect,” said Jim McKelvey, co-founder of Square and investor in both Core10 and Accrue.
Headquartered in St. Louis, Missouri, Accrue is a digital lending and banking software-as-a-service (SaaS) provider. Its pre-built integrations complement core banking platforms and FinTechs including Plaid, Stripe and Alloy.
Founded in 2016 in Franklin, Tennessee, Core10 provides API Integration and SaaS implementation services to FinTech and financial services industries.
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Jeff Hanson, CEO of Core10, said the combined companies will bring integration as a service powered by digital banking tools combined with the right talent and expertise for the creation of onboard API and tailored software.
“Great banking products require customization and integration, and the marriage of these two companies creates a one-stop-shop for community banks and FinTechs who want to innovate but may not have the expertise or the budget to do so on their own,” Hanson said.
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