Alogent, a Peachtree Corners-based software company that designs technology solutions for fintech companies, has acquired the consumer lending software assets of IntelliEngines, an Austin-based company that designs AI business automation platforms.
FinanceGenius, the cloud-based suite of lending software from IntelliEngines, will now be marketed under the new name Origins, as part of Alogent's lending business, according to a news release. The service automates consumer lending and streamlines the loan origination process for financial institutions and retail lending. Terms of the deal were not disclosed.
“The FinanceGenius software is a competitive cloud-based consumer lending product that has been deployed by financial institutions seeking to automate and streamline their operations,” Tejas Vakil, CEO of IntelliEngines, said in a statement. “Alogent’s commitment to innovation and user experience makes the addition of this suite to its technology stack a natural fit, and will position the company to be a leader in lending to financial institutions, as well as in the fast-growing segment of retail or point-of-sale lending.”
“The addition of Origins to Alogent’s product portfolio naturally marries our digital banking and enterprise information management solutions,” Jason Schwabline, Alogent’s CSO, said in a statement. “Cloud-based and mobile-ready, Origins is a turnkey and automated decisioning platform that embodies Alogent’s ‘user-first’ and channel-agnostic approach. Consumers choose how they want to engage – online, mobile, in-branch or by phone - while financial institutions benefit from a streamlined and uniform workflow regardless of the channel of interaction.”
Alogent is a portfolio company of Battery Ventures and this acquisition is the third of its kind for the company. Alogent acquired Blueprint Solutions in 2016 and Jwaala in 2017. According to Crunchbase, it doesn't appear that IntelliEngines has raised any venture capital.
“The acquisition of the FinanceGenius suite expands Alogent’s footprint into more facets of the digital financial ecosystem,” Dede Wakefield, Alogent’s CEO, said in a statement. “By delivering end-to-end capabilities for intelligent loan origination, we’re opening new business opportunities for Alogent’s 2,400 financial institution partners and enabling them to maximize loan growth and profitability.”
