US online banking systems vendor Corillian has acquired New York-based qbt Systems, a privately-held provider of integration software to financial institutions. Financial terms of the deal were not disclosed.
Qbt's flagship product is MultiPoint Integrator, a real-time transaction processing engine that delivers connectivity to a range of systems used by financial institutions, core data processors and other financial services providers.
Under the acquisition, Corillian will also inherit the MemberBridge product line, which was bought by qbt from Corporate Network eCom earlier this year. MemberBridge applications include online banking, bill payment, alerts, secure messaging, consumer lending and ACH.
Corillian says it will also significantly expand its credit union focus expertise with the addition of the combined qbt and MemberBridge teams. The purchase will add 15 new credit union customers to Corillian's client list.
As part of the acquisition, qbt president Brian Bodell will be appointed senior vice president of the community banking solutions group within Corillian. This group will be responsible for managing the integration of the MultiPoint Integrator platform and MemberBridge applications and will focus on providing products and services to the growing market of community banks and credit unions.
Alex Hart, president and CEO of Corillian, says: "As we continue to expand our market-leading capabilities into new lines of business and target markets, it becomes increasingly important for us to have a robust set of integration and connectivity solutions and expertise."