Bottomline Technologies the cloud-based payment, invoice and digital banking solutions source, today announced it will procure Andera, a provider of innovative client acquisition solutions. On record, Andera has assisted its over 500 bank and credit union customers process more than 4.5 million fresh account applications online.
As the digital channel emerges as customers’ preferred way to do business with banks, financial institutions are investing in web-based technologies to sell, service and engage with their clienteles. Andera’s customer acquisition solutions from its part facilitate financial institutions to be able to accelerate revenue growth through their intuitive online account opening and customer engagement capabilities.
“Our strategy is to help financial institutions grow by acquiring and deepening customer relationships through digital channels. Andera’s innovative solutions will enable our clients to grow revenues and compete and win in digital banking,” alleged Norm DeLuca, GM of Banking and Financial Services at Bottomline.
“Bottomline’s market position as a leading provider in digital banking will allow our company to go to the next level. Jointly, we share a commitment to innovation, the opportunity of the digital channel and to delivering customer delight,” held Charlie Kroll, CEO of Andera.
The procurement, however, representing just about $44.5 million in cash and 102,000 stakes of Bottomline stock, will be accretive to Fiscal 2015 core net income. The revenue contribution from the transaction is expected to stand at $2 million in the fourth quarter of Fiscal 2014 and $10 million in Fiscal 2015.