GENEVA, Switzerland –Temenos, a provider of solutions to the financial services industry, has acquired software provider Akcelerant, which has relationships with more than 600 financial institutions in North America, predominantly in the credit union space.
Philadelphia-based Akcelerant provides solutions in the areas of new loans and accounts, risk management and operational efficiencies, and touches on every phase of the account cycle.
According to Temenos, the acquisition is key to its North America growth strategy, especially within the U.S. It follows the 2013 acquisition of Trinovus, a software-as-a-service technology provider, and creation of the Temenos USA division. The purchase of Akcelerant will also give Temenos additional scale and presence in the region and enable it to offer a broader portfolio of products to new and existing customers, the company said.
Following the acquisition, Jay Mossman, the Founder and CEO of Akcelerant, will continue as its CEO and join the Temenos USA management team. The executive team at Akcelerant will remain intact, and continue to lead the business.