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07/01/08
CRIF Acquires Teres Solutions as Part of Continued Global Expansion
3/5/08
Austin Credit Union, Vendor Fight Credit Crunch with Software
1/29/08
Teres Solutions Customer Base Grows by 25 Percent
9/21/07
Teres Solutions Inks New Customer Deals with Top Credit Unions
Teres Solutions™ Technology to Be Sold Worldwide; Move Will Expand Services Available to Credit Unions and Financial Institutions in the U.S.
AUSTIN, Texas and BOLOGNA, Italy – July 1, 2008 – CRIF, a worldwide leader in credit services, and Teres Solutions™, Inc., one of the top three providers of direct and indirect lending software to credit unions and financial institutions, today announced that CRIF has acquired Teres Solutions. As part of the agreement, Teres Solutions will operate as a wholly-owned subsidiary of CRIF. Further terms of the agreement were not disclosed.
CRIF develops decision-support models, consultancy and management solutions, software and worldwide business information systems to support the needs of finance, insurance, utility and service companies in every phase of customer relations. The company’s acquisition of Teres Solution will provide CRIF with the ability to offer the SAIL® Direct and SAIL Indirect lending platforms to organizations in Europe and beyond. In addition, the deal will support the continued expansion of CRIF into the U.S. credit union and financial services markets.
“As one of the leading decision solutions provider in the world, we’re honored to have Teres Solutions, its customers and employees as part of the CRIF family,” said CRIF CEO, Carlo Gherardi. “Building on the synergies between the two companies we’ll work together to help our mutual customers increase loan volumes, yields and ultimately, profitability.”
Teres Solutions provides indirect and direct lending software solutions to over 175 leading credit unions and financial institutions in North America. It also has established distribution and reseller partnerships with top finance and insurance technology companies as well as CUSOs.
“Since our inception, our goal has always been to deliver premium lending technology and related services to our credit union and financial services customers,” said Tim Kelly, CEO of Teres Solutions. “By merging with CRIF, we’ll have access to extensive development, and financial resources that will help make our technology offerings even better for our current and future customers.”
For additional information on Teres Solutions, visit www.teressolutions.com.
About CRIF
Based in Bologna, Italy where it was founded in 1988, CRIF specializes in the design, development and management of credit reporting, business information and decision support systems. The company’s comprehensive range of information solutions, decision models, outsourcing systems, software and consultancy provide support to banks, financial institutions, insurance companies, utilities and general business companies. Thanks to the capability to develop long term partnerships with its clients, CRIF is the leader in credit and risk management solutions in several countries. More than 1,200 banking and financial institutions use CRIF services on a daily basis for the credit management process. Moreover, CRIF provides added-value reports on the economic, financial, and corporate status of over 50 million companies in 230 countries around the world. For additional information, please access contact communication@crif.com or visit www.crif.com.
About Teres Solutions™, Inc. A wholly-owned subsidiary of CRIF, Teres Solutions™, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft certified partner with accredited core competencies. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.
SAIL is a registered trademark and Teres Solutions™ is a trademark of Teres Solutions™, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.
Media Contact:
Karl Scholz
For Teres Solutions, Inc.
(512) 493-0909
scholz@virtualprdirector.com
Company Contact:
Tim Kelly
Teres Solutions, Inc.
(512) 218-4200
info@teressolutions.com
CRIF develops decision-support models, consultancy and management solutions, software and worldwide business information systems to support the needs of finance, insurance, utility and service companies in every phase of customer relations. The company’s acquisition of Teres Solution will provide CRIF with the ability to offer the SAIL® Direct and SAIL Indirect lending platforms to organizations in Europe and beyond. In addition, the deal will support the continued expansion of CRIF into the U.S. credit union and financial services markets.
“As one of the leading decision solutions provider in the world, we’re honored to have Teres Solutions, its customers and employees as part of the CRIF family,” said CRIF CEO, Carlo Gherardi. “Building on the synergies between the two companies we’ll work together to help our mutual customers increase loan volumes, yields and ultimately, profitability.”
Teres Solutions provides indirect and direct lending software solutions to over 175 leading credit unions and financial institutions in North America. It also has established distribution and reseller partnerships with top finance and insurance technology companies as well as CUSOs.
“Since our inception, our goal has always been to deliver premium lending technology and related services to our credit union and financial services customers,” said Tim Kelly, CEO of Teres Solutions. “By merging with CRIF, we’ll have access to extensive development, and financial resources that will help make our technology offerings even better for our current and future customers.”
For additional information on Teres Solutions, visit www.teressolutions.com.
About CRIF
Based in Bologna, Italy where it was founded in 1988, CRIF specializes in the design, development and management of credit reporting, business information and decision support systems. The company’s comprehensive range of information solutions, decision models, outsourcing systems, software and consultancy provide support to banks, financial institutions, insurance companies, utilities and general business companies. Thanks to the capability to develop long term partnerships with its clients, CRIF is the leader in credit and risk management solutions in several countries. More than 1,200 banking and financial institutions use CRIF services on a daily basis for the credit management process. Moreover, CRIF provides added-value reports on the economic, financial, and corporate status of over 50 million companies in 230 countries around the world. For additional information, please access contact communication@crif.com or visit www.crif.com.
About Teres Solutions™, Inc. A wholly-owned subsidiary of CRIF, Teres Solutions™, Inc. was founded in 2002 for the express purpose of developing direct and indirect lending software products that define the state-of-the-art for the financial institution market. Its Software Application for Integrated Lending (SAIL) direct and indirect lending products allow financial institutions to streamline lending decisions, increase revenue through enhanced loan application processing efficiency, improve dealer and member relations, and augment loan tracking and reporting capabilities. Teres Solutions has been recognized as a Microsoft certified partner with accredited core competencies. Visit www.teressolutions.com for more information on Teres Solutions, its products and services.
SAIL is a registered trademark and Teres Solutions™ is a trademark of Teres Solutions™, Inc. All other company and product names mentioned are used only for identification and may be trademarks or registered trademarks of their respective companies.
Media Contact:
Karl Scholz
For Teres Solutions, Inc.
(512) 493-0909
scholz@virtualprdirector.com
Company Contact:
Tim Kelly
Teres Solutions, Inc.
(512) 218-4200
info@teressolutions.com
© 2008 Teres Solutions, Inc. All Rights Reserved.