The acquisition brings together two FinTech industry leaders to further innovate loan origination solution technology for financial institutions nationwide.
Costa Mesa, CA, Nov. 05, 2020 (GLOBE NEWSWIRE) — MeridianLink®, a leading provider of enterprise business solutions for financial service organizations, announced today the acquisition of Teledata Communications, Inc. (TCI). TCI is the creator of DecisionLender, a SaaS loan origination solution (LOS) that was first released in 1998. DecisionLender is an industry-trusted LOS that serves more than 500 banks, credit unions, and financial companies nationwide.
“TCI’s client-first commitment and focus on providing a continuously innovative lending solution mirrors the vision and mission of MeridianLink,” said Nicolaas Vlok, CEO of MeridianLink. “The addition of TCI, which combines over 20 years of FinTech industry expertise and cutting-edge IP, will accelerate LOS innovation.”
“For over 20 years, my team and I have built an industry-leading product for our clients and we’re proud to entrust its further expansion into the hands of MeridianLink,” said George Nagrodsky, Co-founder, Chairman and Director of TCI.
The DecisionLender loan origination system will continue to be available to existing and new customers nationwide. MeridianLink will evolve LOS technology further and provide borrowers with the frictionless process they’ve come to expect. By combining the organizations’ knowledge and technologies, MeridianLink will accelerate innovation within its LOS product roadmap, giving financial institutions the best enterprise business solutions so they can focus on their employees, consumers, and communities.
“This acquisition will provide new and exciting breakthroughs within LOS technology. We are confident that MeridianLink’s outstanding record of innovation and exceptional customer support will make our clients more successful,” said William S. Nass, Co-founder, President and Director of TCI.
MeridianLink will continue to provide all current business enterprise solutions for banks, credit unions, and mortgage lenders. DecisionLender will now be offered within MeridianLink’s suite of products. The combined industry knowledge of both companies builds a strong foundation for more rapid growth in product innovation and development. MeridianLink is committed to further investment in lending technology that simplifies workflows and helps financial institutions grow.
“We are excited to welcome TCI’s employees to the MeridianLink team and look forward to expanding our breadth of products and solutions,” said Alan Arnold, COO of MeridianLink. “We are honored to serve our new clients and build upon these strong relationships.”
Financial Technology Partners LP and FTP Securities LLC served as the exclusive financial and strategic advisor to TCI in this transaction.
MeridianLink, Inc., developer of the industry’s first and leading multi-channel account opening and loan origination platform, has been a trusted provider of financial enterprise business solutions since 1998. Winner of Octane’s 2020 “Best Technology Company Leadership Team” MeridianLink connects over 1,400 clients and their customers to better financial experiences — through proven efficiencies, solutions, and technology. Further information can be found at www.meridianlink.com.
About Teledata Communications, Inc.
Founded in 1982, Teledata Communications, Inc (TCI) is the provider of DecisionLender 4, a complete consumer loan origination platform (LOS). DecisionLender 4 is completely configurable, hosted in the cloud, and supports branch, online lending, indirect auto and merchant lending, and deposit account opening. The robust decisioning engine is the most versatile on the market, enabling manual or automated workflows. With over 130+ different 3rd party integrations ranging from alternative data sources to fraud protection, to esignature and more, DecisionLender 4 truly empowers you to do business YOUR WAY! www.tcicredit.com