Velocity Solutions Creates the Industry’s Most Robust Overdraft Management Solution with the Acquisition of BSG’s Courtes...
August 14 2018 - 1:30PM
Business Wire
Velocity Solutions, LLC, the leading provider of revenue
enhancement solutions to regional and community financial
institutions, through a subsidiary, has completed the acquisition
of CourtesyConnect®/CourtesyLimit™, the automated overdraft
management system provided by CourtesyCloud Management Solutions,
LLC, a BSG Financial Group™ company.
CourtesyConnect® is the industry’s first cloud-based courtesy
overdraft management system. The software and processes allow
financial institutions of all sizes to automate their
overdraft service and manage it as a line of
business – for enhanced account holder experience,
compliance and revenue. CourtesyLimit™ is the risk management
component of the system. It provides innovative data analysis
capabilities to create dynamic overdraft limits tailored
to an individual's repayment capacity.
“This acquisition establishes Velocity Solutions as the
industry’s unrivaled leader in automated overdraft management
solutions using dynamic limits,” said Christopher Leonard, CEO of
Velocity Solutions. “The addition of
CourtesyConnect®/CourtesyLimit™ to our existing product suite
creates the industry’s most powerful overdraft management product
set. This acquisition allows us to provide our overdraft solutions
to a broader base of financial institutions, including those who
are seeking a cloud-based solution.” Leonard continued, “we are
better equipped than ever to help financial institutions of all
sizes achieve the optimal balance of revenue, service and
compliance–the three essential pillars of a complete and proactive
overdraft management system.”
“Velocity Solutions is a seasoned veteran in the overdraft
space. For years, we’ve coexisted in the industry as peers, with
very similar goals of offering compliant and consumer-centric
solutions, developing consultative relationships with our clients,
and continuous innovation of our software, systems and processes,”
said W. Barrett Nichols, Founder and Chief Executive Officer of BSG
Financial Group. “This acquisition creates the opportunity to
provide enhanced overdraft product offerings and unrivaled service
to our combined client base, as well as to prospective financial
institutions. With Velocity’s existing suite of products, strong
leadership team, and focus on responsible solutions using
innovative technology, they are well-positioned to leverage the
acquisition of CourtesyConnect®/CourtesyLimit™ to solidify their
position as the industry’s leading overdraft management
provider.”
For more information, please contact Velocity Solutions at
info@myvelocity.com.
About Velocity Solutions, LLC
Velocity Solutions is the leading provider of digital revenue
enhancement solutions to regional and community banks and credit
unions. Founded in 1995 and servicing the transaction accounts of
over 25 million consumers and business owners, Velocity has
unparalleled expertise and insight into deposit account activity
and transactional trends. Velocity’s solutions are designed to
automate overdraft services, drive new profitable accounts, provide
digital consumer and business lending platforms, generate new
non-interest income, and address regulatory scrutiny. For more
information, please visit www.myvelocity.com.
About BSG Financial Group
Louisville, Kentucky-based BSG Financial Group is a group of
independently organized companies that provides revenue-enhancement
and compliance solutions for financial institutions nationwide. BSG
Financial Group has been a provider of innovative overdraft
programs since 1999, including the industry's first cloud-based
overdraft management solution, CourtesyConnect®/CourtesyLimit™. The
company's additional revenue-enhancing solutions include: Fee-Based
Packaged Checking Accounts; Digital Lending Solutions; Vendor
Management; Social Media Management; and CD Pricing and Selling
Strategies.
BSG Financial Group includes the following companies:
CourtesyCloud Management Solutions, LLC; BSG Financial, LLC; and IQ
Development, LLC. For more information about the company,
visit www.bsgfinancial.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20180814005329/en/
William Mills Agency, on behalf of Velocity
SolutionsDerek Howard,
678-781-7215derek@williammills.com