TAMPA, Fla.– Trellance, a provider of data analytics and business intelligence solutions for credit unions, said it has entered into a definitive agreement to acquire the assets of 2020 Analytics, a Tampa-based loan portfolio analytics service provider.
Trellance said it will incorporate 2020 Analytics’ capabilities for loan portfolio analysis, collateral valuation and credit scoring, concentration risk assessment, stress-testing, CECL calculations, credit line management, and peer analytics to enhance services that identify and grow profitability while better managing risk.
The acquisition will also expand Trellance’s client base, the company said.
“Our dedication to providing credit unions with best-in-class analytics means we are continuously developing and acquiring technology that augments our tech stack,” said Tom Davis, president and CEO of Trellance.
“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.”
In announcing the acquisition, Trellance said services that provide insights into loan portfolio development are in high demand right now, and Trellance and 2020 Analytics saw a joint opportunity to better meet the demand.
‘An Extension of Credit Unions’
“For nearly 15 years, we have considered ourselves an extension of the credit unions we serve,” said Dan Price, president of 2020 Analytics. “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.”
Trellance said acquiring 2020 Analytics is its next step in its recent period of accelerated growth, noting that earlier this year it reported it was adding a Talent Services business division and expanding its presence globally into India, expecting to add more than 200 new employees.
The acquisition is expected to become final in early November. The 2020 Analytics staff will be retained as full-time Trellance employees.
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