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Akcelerant buys FORUM Solutions lending software
INDIANAPOLIS and MALVERN, Pa. (3/25/08)--Akcelerant Software LLC has purchased the TAPS lending software developed by FORUM Solutions, a wholly owned subsidiary of FORUM CU. The purchase includes all licenses, rights and support for TAPS customers, the companies said in an announcement Monday. The sale is effective April 1. Transition of sales, support and implementation of the software to Akcelerant will begin immediately. FORUM Solutions developed the first version of TAPS in 1999 to help Indianapolis-based FORUM CU improve its consumer lending processes. Today the product runs on Microsoft's SQL Server using .NET technology. It also has a business process engine built on InterSystems Ensemble. According to Doug True, FORUM Solutions co-founder and senior vice president of technovation at FORUM CU, while TAPS is still a leading lending software platform, continued investment is needed to advance the product to keep ahead of the competition. Akcelerant has the resources and commitment to do so, he said. Akcelerant Software provides Akcelerant Framework software for collections, service, sales and marketing to more than 200 credit unions and banks, including 25 of the nation's largest 100 credit unions. CEO Jay Mossman said the company would integrate TAPS into the Akcelerant Framework and enhance the TAPS business lending and account opening functionality. The company will propose a "no license fee" solution to TAPS and Akcelerant customers for a combined Akcelerant Framework lending and collection solution. FORUM CU has $1 billion in assets. FORUM Solutions will continue operation and will maintain a focus on developing new innovations. "We have a patent-pending new product involving how members interact with the credit union and are excited to turn our full attention to this product's completion and launch," said True.


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