Alogent adds Jwaala to digital banking tech portfolio
Alogent in elegant digital banking move
US firm Alogent has acquired a Texas-based digital banking tech vendor, Jwaala, for an undisclosed amount.
Alogent, which is based in the US state of Georgia, says it will continue to support Jwaala’s collection of solutions, which will be marketed under the new name, Alogent Digital.
Dede Wakefield, Alogent CEO, describes the acquisition as “the next major step forward in our mission to digitise and automate the financial services world”, with Jwaala’s platform bringing a “significant foundational set of capabilities”.
As reported last year, US-based banking software vendor, Jack Henry & Associates, shed its deposit automation business, Goldleaf Enterprise Payments (formerly Alogent Corporation).
The buyer was Battery Ventures, a US/Israeli venture capital and private equity firm. With that deal, the company regained its former name – Alogent.
In terms of Alogent’s current back office software, this focuses on electronically capturing, processing and analysing cheque data and images, including those captured on mobile devices.
Its customers range from small community banks and start-ups to top tier banks, and it is the latter segment that will be the company’s key focus with the arrival of Battery Ventures.
