Milpias, California-based Eltropy, a messaging platform for financial institutions to engage with customers, has acquired POPi/o of Sandy. POPi/o provides video banking and collaboration technology, including mobile, web and in-branch video software solutions.
“The acquisition not only strengthens Eltropy’s industry-leading digital communications platform, but it represents one of the fastest fintech expansions in the market,” Eltropy said in a release announcing the acquisition. Eltropy’s platform is used by over 400 credit unions.
“Throughout my career, I have been focused on the consumer experience while creating enormous value to financial institutions,” said Gene Pranger, founder and chairman of POPi/o. “Through the merger of POPio’s video banking and Eltropy’s sophisticated digital communications platform, we will be able to fulfill both objectives.”
“During the pandemic, credit unions faced the twin challenges of finding new ways to connect with their members remotely while continuing to streamline in-branch services. By joining forces with POPi/o, we’re empowering credit unions to build robust virtual branch capabilities and serve members anytime, anywhere, in the channel of their choice,” said Ashish Garg, co-founder and CEO of Eltropy.
“Eltropy and POPi/o joining forces creates a tremendous opportunity for the credit union industry, positioning credit unions to leverage this best-of-class digital communications platform to streamline the way they engage with and serve their members,” said Barb Lowman, president of Credit Union National Association (CUNA) Strategic Services. “This path forward not only positions credit unions to drive operating efficiencies and attract and retain profitable members, it improves the member experience and makes credit unions an even more attractive alternative to banks.”