Terms were not disclosed. Avalon International (www.avalonintl.com), based in the Atlanta suburb of Norcross, will operate as a wholly owned subsidiary of Bluepoint Solutions, which currently serves more than 750 credit unions.
"Our clients have asked us for an end-to-end image based Check 21 capture and item processing solution. This acquisition unites two industry innovators currently delivering feature-rich software technology solutions to financial institutions," said Naseer Nasim, CEO of Bluepoint Solutions (www.bluepointsolutions.com).
CUOL Takes On
Two More XP2 Users
WALTHAM, Mass. -- Two more credit unions have committed their core processing to Credit Union On-Line Inc., the only data center provider of Fiserv's XP2 platform.
They are the $42 million UCF FCU in Orlando, Fla., and the $27 million Blackhawk Area CU of Savanna, Ill.
Both credit unions had been longtime XP Systems users who decided to transition to the service bureau solution while upgrading to XP2.
"Allowing CUOL to process for in-house XP clients is the least invasive and most inexpensive way to operate on the upgraded XP2 platform," said CUOL's President/CEO Connie Boretti.
CUOL now serves 24 credit unions. The CUSO (www.cuol.com) was founded in 1980 and offers the XP2 core processing environment integrated with online banking, voice response and recognition, e-statements, loan origination, collections and other services.