Jack Henry's acquisition of Geezeo and NCR's purchase of D3 Technology are fueling predictions that more small-business data firms will be takeover targets for legacy techs trying to court small bank and credit union customers.
Peapack-Gladstone in New Jersey has more than doubled its assets under management in the last six years, taking advantage of buyouts of its smaller rivals as it aims to become less dependent on net interest income.
The pair spoke in grand terms when they announced they were combining, but a securities filing tied to the agreement serves as a reminder that when two banks decide to become one, it's often because they have to.
Alexander Lopatine, who founded Nymbus and has joined Mbanq, says alternative providers are gaining the confidence of more banks. However, questions remain about their staying power in the fight with traditional vendors.
