IBT, a leading innovator of financial services products and best-of-breed solutions that provides cost-effective enterprise-wide technology that improves process and the customer experience for financial institutions, today announced the acquisition of Beacon Software, Inc., an Atlanta-based company providing web-based technology solutions to community financial institutions nationwide. Terms of the transaction were not disclosed.
Beacon was founded in 2003 and quickly became a leading provider of in-house internet banking software for community financial institutions. Since then, the company has expanded its services to include a hosted internet banking platform as well as bill pay, treasury management, telephone banking, personal financial management and mobile banking.
"Beacon's singular focus on community financial institutions enables us to continue our expansion within that segment. IBT excels in providing cost-effective and innovative technology solutions, which is what makes Beacon a great fit for our organization. Our strategy and focus on excellence with regard to customer service, 24/7 availability and new mobile channel allows community banks and credit unions the ability to keep pace with today's consumer demands," stated Mark Dittman, CEO of IBT.
Jack Fullen, Beacon Software's President, added, "We are delighted to become a part of the IBT organization. The company's broad range of bank technology solutions will provide our customers with efficient, scalable options allowing them to maintain their hometown advantage against their Tier One competitors."