Velocity Solutions of Wilmington, N.C., said it has acquired theDeposit Score, Platinum Overdraft and Pricing Partner softwarebusiness of Sheshunoff Consulting + Solutions of Austin, Texas.

In addition to the software, used for management of accountoverdraft limits at credit unions and banks, the acquisition willprovide Velocity “with additional expert staff from SheshunoffConsulting + Solutions and an installed base of Deposit Score andPlatinum Overdraft clients to augment the explosive growth ofVelocity's Next-Generation Intelligent Limit System Version 12,”the companies said in a statement.

Together, they serve “the vast majority of community andregional financial institutions who employ dynamic overdraft limits,” the companies said, with more than 5 millionaccounts under management.

Christopher Leonard, president of Velocity Solutions, said, “Sheshunoff Consulting + Solutionshas been one of the pioneers in the industry in providing theneeded tools to help financial institutions manage these regulatoryand account service issues, and Velocity's Intelligent Limit Systemis the perfect complement to this approach.

Gabrielle Sheshunoff, president/CEO of Sheshunoff Consulting +Solutions, said, “The combination of the products we developed andVelocity's ILS software will provide best-in-class software andcapabilities to the financial institutions that have, and willcontinue, to rely on both of our companies.”