Acquisitions and additions inside the fintech industry. (Source: Shutterstock)
The credit union fintech partner Trellance acquired information technology solutions provider Ongoing Operations in a deal that officials said will expand services and capabilities to clients across the country.
According to details of the definitive agreement to acquire Ongoing Operations, announced Nov. 23, Trellance will incorporate the IT capabilities of Ongoing Operations into the Trellance brand. Those capabilities include consulting, information security, compliance, architecture and business continuity.
Financial details of the acquisition were not disclosed.
A statement from Trellance said, "The acquisition is beneficial to all parties, as it allows Ongoing Operations to continue to serve clients and build on existing relationships with an expanded array of services, while also allowing existing clients for both companies to benefit from the combined strength and resources of Ongoing Operations and Trellance."
Trellance President/CEO Tom Davis said, "Ongoing Operations shares our dedication to the credit union industry and we're glad to welcome the team into Trellance. Together we will provide best-in-class technology services that enable credit unions to keep pace with banks and fintechs. This acquisition continues our path of rapid growth and innovation to more fully meet the industry's needs."
"Ongoing Operations has been owned by credit unions from the very beginning," Steve Bone, Ongoing Operations CEO, said. "Trellance understands the credit union mission and has a solutions portfolio that complements our own. By joining the Trellance team, we have access to an even greater network of resources with which to support our customers."
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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.
