Trellance, OnApproach merger creates analytics giant

Trellance has acquired OnApproach, combining two of the largest credit union service organizations dedicated to providing data analytics services to credit unions.

The two companies released a joint statement saying their combination means they will be able to offer a “comprehensive blend” of predictive analytics by tapping the skills of each CUSO. They said this “will provide credit unions powerful and customizable data analytics to enhance the member experience.”

Tom Davis, president and CEO of Tampa, Fla.-based Trellance, will serve as CEO of the combined company. Paul Ablack, currently CEO of OnApproach, Plymouth, Minn., will be in charge of product development of M360, which OnApproach describes as a credit union industry-standardized data integration platform built to “normalize” transaction-level data across credit unions.

The agreement to combine the two companies closed on Feb. 8.

“We continue to recognize the importance of data analytics in providing insights to drive results today and into the future,” Davis said in a statement. “With this acquisition, Trellance, in conjunction with OnApproach, will allow credit unions to use real-time data to increase efficiencies, manage risks and enrich relationships with their members.”

Ablack said that since its founding in 2005, OnApproach has had the goal of providing CU “with the means to transform their data into actionable goals,” Ablack, said.

“Credit unions have incredible opportunity with data, and this partnership with Trellance will help to accelerate analytics adoption for the credit union industry,” he added. “At OnApproach, we believe that credit unions should have full access and ownership of their data. By combining forces with another reputable CUSO, we are proud to continue empowering credit unions with the tools and data required to properly serve members and grow their businesses.”

The two companies said they would provide further details regarding their combination during Trellance’s annual conference, which takes place May 9.

Trellance was born in late 2017 when CSCU created the company as a new subsidiary organization and later split the pair into separate entities.

Since the split from CSCU, Trellance has offered data-driven products and services to its client credit unions. In October 2018, Trellance acquired IronSafe, an Illinois-based software company that offers data analytics. Prior to its acquisition by Trellance, IronSafe was used by more than 2,300 credit unions.