Compushare, a provider of information technology, consulting and implementation solutions for community financial institutions, has acquired Pifer Financial Systems, a provider of consultation, systems integration, and maintenance programs for the financial community.
Barrington, N.J.-based Pifer Financial Systems presently serves approximately 100 community banks and credit unions in New York, New Jersey and Pennsylvania. The acquisition increases Compushare's presence in the Northeast and enables community financial institutions in the region to take advantage of the firm's expertise.
"Compushare and Pifer Financial Systems' complementary solutions supply community financial institutions with enhanced integration and hardware services, in conjunction with new consultative services," said Mark Pifer, president of Pifer Financial Systems. "Our current customers will benefit from Compushare's expertise in providing comprehensive IT solutions, such as security monitoring and solutions to fit their technology compliance issues."
The incorporation of Pifer Financial Systems' integration and hardware maintenance services with Compushare's consultative solutions group assists financial institutions in areas such as GLBA compliance, information security and business continuity.
Compushare's integration practice manages projects including large IT upgrades, rollouts, and core software conversions, while providing the hardware and software associated with these projects. These integration services ensure successful implementation of best-of-breed technology solutions.
Compushare's support system provides services including proactive and reactive maintenance, patch management, online data backups and 24/7 security monitoring, generally supporting organizations by augmenting internal IT staff or by actually serving as an institution's outsourced solution. Compushare's support services enable institutions to outsource expert support in multiple areas rather than incur the cost of maintaining in-house expertise in multiple areas.
"Compushare is continually spreading IT solutions to community financial institutions throughout the United States, and acquiring Pifer Financial Systems, giving us access to the Northeast, is the next step," said Romir Bosu, president and CEO of Compushare. "Community financial institutions in the Northeast will benefit from our IT expertise and exclusive focus on their needs."