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Credit union data analytics and business intelligence provider Trellance announced Tuesday it had entered into a definitive agreement to acquire the assets of the loan portfolio analytics service provider, 2020 Analytics.
According to a statement from the Tampa, Fla.-based Trellance, its acquisition of 2020 Analytics, also based in Tampa, would assist in deepening Trellance's ability to offer business intelligence solutions for credit unions around the country.
The acquisition strategy, according to Trellance, will result in Trellance expanding its client base while incorporating loan portfolio analysis, concentration risk assessment, CECL calculations, collateral valuation and credit scoring, as well as "peer analytics to enhance services that identify and grow profitability while better managing risk."
Trellance did not disclose the financial details of the acquisition, but did state it expects to have the acquisition finalized in November.
Trellance President/CEO Tom Davis said the acquisition will provide immediate value to Trellance credit union clients. "Our dedication to providing credit unions with best-in-class analytics means we are continuously developing and acquiring technology that augments our tech stack. With deeper business intelligence and more actionable insights from 2020 Analytics, credit unions can manage their portfolios more dynamically, to quickly and proactively respond to market trends," Davis said.
Dan Price, president of 2020 Analytics said, "For nearly 15 years, we have considered ourselves an extension of the credit unions we serve. We believe we can serve them even better now as part of Trellance, combining our strengths to revolutionize the ways credit unions manage their portfolios and improve returns."
According to Tuesday's announcement, all 2020 Analytics staff will be kept on as full-time Trellance employees.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
