In The News

IBT App Acquires PowerLender To Enhance Its Loan Origination Solutions

IBT Apps, a provider of adaptable core and digital banking software, has acquired PowerLender, a Loan Origination System, previously owned by ASC Inc. This strategic move expands IBT Apps’ product portfolio and provides both their clients and the community banking sector with an in-house Loan Origination option that seamlessly integrates with their existing core and digital banking products.

Specialized Data Systems, Inc., private-labels the PowerLender software under RemoteLender. The private-label relationship for the PowerLender software between IBT Apps and Specialized Data Systems will continue and IBT Apps will continue to support Specialized Data Systems.

Mark Dittman, Chief Executive Officer of IBT Apps, expressed his enthusiasm, stating, “This acquisition represents a significant milestone in our journey to expand our presence and offerings in community banking and the financial sector. We are excited to leverage PowerLender’s / RemoteLender’s innovative lending solutions, to further strengthen our position in the market and better serve our clients. With our shared commitment to exceptional customer service, our core values align perfectly.”

PowerLender and RemoteLender has been a premier developer of loan automation technology for over 40 years, serving regional banks, community banks, credit unions and lenders of all sizes. Marc Riccio, President of Specialized Data Systems, remarked, “Specialized Data Systems is known for partnering with high quality software providers. The acquisition of PowerLender by IBT Apps will ensure we have added another trusted partner to our marquis of products. Plus, we are confident that IBT Apps will continue to uphold the high standards of service and innovation that PowerLender / RemoteLender is known for.”

IBT Apps is proud to begin offering the newly acquired Loan Origination System to the community banking environment immediately.