20 October 2017
visit www.response.ncr.com

IBM acquires Palisades Technology Partners

20 October 2006  |  792 views  |  0 Source: IBM

IBM (NYSE:IBM) today announced a definitive agreement to acquire New Jersey-based Palisades Technology Partners, a privately-held provider of services and technology to the mortgage lending industry.

Financial terms were not disclosed. The acquisition is subject to regulatory approvals and other customary closing conditions. The transaction is expected to close before the end of the year.

Palisades Technology Partners' staff of business and technology experts provides strategic consulting, systems integration, and a comprehensive web-based multi-channel lending platform, which supports the entire lending lifecycle from point-of-sale, through post closing. The firm's clients include five of the world's top ten lenders. Palisades Technology Partners has been recognized as a Top 100 Technology Vendor by Mortgage Technology Magazine.

This acquisition builds upon IBM's strategy to leverage business consulting, IT services and software to develop integrated, replicable solutions that help clients optimize and transform their businesses. An established provider of mortgage lending solutions, Palisades Technology Partners' industry expertise, process know-how, and software add important components to IBM's ability to provide transformational solutions for the finance and banking industries.

"The addition of Palisades Technology Partners will enable IBM to deliver enhanced solutions to our clients in the finance and banking sectors," said Erich Clementi, general manager, IBM Managed Business Process Services. "The acquisition will accelerate IBM's offerings and capabilities to deliver flexible, efficient and scaleable solutions, which reduce operational risk for clients that run complex lending processes."

Based on a Service Oriented Architecture (SOA), Palisades Technology Partners' Impact Lending Suite operates on an open architecture that offers lenders the flexibility to embed their own business policies and existing technology within a standard processing platform. SOA results in greater efficiencies, cost savings and productivity. The Impact Lending Suite is a proven solution that allows seamless integration with external specialist partners to deliver best-in-class processing capabilities, while reducing operational risk.

"As a part of IBM, we can expand our reach and capabilities to the marketplace with a much broader set of solutions," said Carmine Cacciavillani, Palisades Technology Partners President and Founder, who will continue to manage the Palisades Technology Partners' business within IBM. "Lenders searching for a partner that can deliver large scale operations improvements will need to look no further. We believe this union with IBM will allow us to better serve clients' needs by giving us a deeper pool of resources for both implementation and innovation."

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comRegister nowvisit www.capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15919 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9019 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8158 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7193 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6337 views comments | 6 tweets | 3 linkedin

Featured job

circa £250K total package
London

Find your next job