DCI, a leading developer of banking software has strengthened its position over the last several years not only through organic development but also through strategic acquisitions. In the midst of the pandemic in April, the company was unafraid to add their latest acquisition, Vetter to enhance its offerings.
Vetter adds intelligent solutions for automated inbound digital marketing, new customer acquisition and digital onboarding to new bank and credit union customers that features a 90 second deposit account opening platform.
The acquisition follows aggressive acquisitions that included Benchmark Technologies and ProfitStars, a division of Jack Henry and Associates as part of a major growth initiative.
As part of the deal with Vetter, DCI received all of Vetter’s existing clients as it has transitioned the technical development and management functions over to DCI. The features enhance DCI’s flagship product iCore360 software. While it will serve as enhanced features, clients can continue to use the products as a competitive stand alone solution that might utilize other core systems.
However, DCI is optimistic that acquisitions like this will also help to grow its base of core clients. Said John Jones, DCI president and CEO, “We are very excited by the acquisition of the Vetter products as they will play an integral part in our digital strategy going forward.”
One of the things that makes DCI unique is that it is privately owned by a group of bank clients, with several clients serving as board members and user group leaders. The combination of being a fintech company but made up of people within the industry positions the company to innovate while staying close to its core clients.
During the pandemic, small to midsize banks have proven to be extremely important to the American economy, especially small business owners. Banking Exchange recently posted an article that focused on how several small business owners changed banks to small and midsize banks after they felt frustrated by the services of the top ten banks especially surrounding the PPP.
Having a strong core technology solution will continue to be important in order to compete with the larger banks.