Kinective said Wednesday (April 16) that it will add end-to-end data intelligence to its banking operations platform after acquiring Datava.
This combination will create a platform that enables financial institutions to leverage their customers and operational data to eliminate process inefficiencies and deliver personalized experiences in branches and online, the companies said in a Wednesday press release.
“Together, we’re creating an integrated banking operations platform that unifies branch automation, document workflow and digital connectivity with powerful data intelligence capabilities,” Kinective CEO Stephen Baker said in the release. “By aggregating data from core systems, account opening, lending and other previously disconnected systems, institutions will see their operation through an entirely new lens.”
With the addition of Datava’s data aggregation and intelligence solutions for financial institutions, the platform will collect, normalize and unify data across business systems; facilitate intelligent analytics through artificial intelligence (AI)-powered dashboards, predictive modeling and robust reporting; and gain a 360-degree view of customers, according to the release.
Datava President and CEO Gordon Flammer, who will join Kinective’s leadership team, said in the release that the combination will accelerate the companies’ shared vision of “delivering transformative data intelligence to financial institutions.”
“Our team has spent years building a powerful platform to empower credit unions and banks to make smarter, faster and more personalized decisions that deepen services to their members and customers,” Flammer said.
This announcement came about nine months after Kinective acquired Nexus Software, a provider of branch device management for financial institutions.
At the time, the Nexus platform served 1,100 financial institutions and supported 400,000 branches in 100 countries.
Baker said in a July press release announcing the acquisition: “Their addition enhances Kinective’s product suite in branch automation, expands our footprint across international markets and opens new partnership channels.”
In October, Kinective partnered with credit union service organization Velera to give credit unions access to Kinective Gateway, an integration technology designed to eliminate the development challenges typically found when introducing new software products into a “diverse ecosystem of core banking systems.”
With Kinective Gateway, credit unions get a single integration point that “opens access to an entire ecosystem of core systems,” the companies said at the time.
