SS&C Technologies Holdings, a global provider of investment and financial services software and software-enabled services, announced that it has completed the acquisition of Teledata Communications.
Teledata Communications is a background search and credit retrieval company. Its software-as-a-service suite and associated customers will be taken over by SS&C which serves the global financial services industry.
In a release Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies Holdings, said, “We look forward to working with TCI’s customers and partners. Adding TCI’s software to our product mix is an important step for us as we continue to offer a broader range of integrated solutions for loan, risk, and identity screening tools.”
“Combined with our BANC Mall, PortPro Mall and SKYLINE solutions, we gain more control to build world-class lending solutions,” Stone added.
Teledata Communications or TCI helps many companies across the United States by providing software products that can automate the process of conducting background checks, employment screenings, tenant screenings and more.
This acquisition by SS&C adds more than 1,400 customers to SS&C’s client base. Client organizations include financial institutions and real-estate property management companies besides many others. However, TCI will continue to hold ownership of its loan origination suite of software products, DecisionLender officials said.
The TCI DecisionLender is a flexible, browser-based loan origination solution for consumer lending. TCI has been providing loan origination solutions delivered as a Software as a Service (SaaS) for 12 years.
In September 2011, lending system solution providers NetFinance Solutions (NFS) and Teledata Communications Inc (TCI) announced plans to integrate their web-based lending platforms, delivering an automated workflow solution for loan origination and loan servicing.
NFS provides Software as a Service (SaaS) technology that automates servicing workflow and allows open access for easy integration with other systems, while maintaining centralized analytics and reporting throughout.