Allied Solutions Acquires CU Direct’s Lending Insights Platform
The move “will strengthen Allied’s vision to harness the power of collaborative analytics to deliver transformative insights to credit unions.”
Allied Solutions, a provider of insurance, lending, risk management and data driven solutions for banks and credit unions, has acquired the Los Angeles-area lending CUSO CU Direct’s Lending Insights platform, the Carmel, Ind.-based Allied revealed on Tuesday.
According to the announcement, the acquisition “will strengthen Allied’s vision to harness the power of collaborative analytics to deliver transformative insights to credit unions,” with Lending Insights being incorporated into Allied’s larger data ecosystem. Financial terms of the acquisition were not disclosed.
“Allied Solutions has invested heavily in data science and we are committed to delivering best-in-class analytics technology that provides credit unions a singular enterprise perspective on members, yield, risk and profitability. In servicing the credit union marketplace for over 40 years, Allied has pioneered and delivered solutions to help clients stay ahead of the competition, and this latest investment in Lending Insights is no exception,” Allied Chief Strategic Officer Dave Hilger stated.
Bob Child, CU Direct’s COO, added, “We are extremely excited for Allied to take full ownership and ongoing development of the Lending Insights platform. They are making huge investments into the data analytics space bringing on services that can provide credit union clients with unprecedented capabilities and the Lending Insights platform is a nice addition. We also share a similar culture and approach to business as Allied, so this deal just makes sense on many levels. We know our Lending Insights clients will be in great hands.”
Allied serves approximately 4,000 clients and is a wholly-owned, independently-operated subsidiary of Securian Financial Group. This acquisition announcement followed the completion of several other acquisition deals by Allied in recent years, including one with portfolio analytics software company Deep Future Analytics in 2020 and one with data science and predictive modeling company Prescient Models in 2021.