Give us a call: 954.847.5800

Velocity Solutions Ownership Acquires IMPACT Overdraft Solution Business

Posted September 5, 2014

Velocity Solutions Ownership Acquires IMPACT Overdraft Solution Business

FORT LAUDERDALE, FL and NASHVILLE, TN, September 4, 2014 – The ownership of Velocity Solutions, Inc. has acquired the IMPACT overdraft software and solutions business from IMPACT Financial Services LLC.

IMPACT Financial Services has been providing overdraft software and solutions to community banks and credit unions for over 15 years. The IMPACT Overdraft Solution® program is designed to help these financial institutions create a more efficient and consumer friendly overdraft program, improve account holder satisfaction and loyalty, mitigate regulatory risk and assure program compliance in an ever-changing regulatory climate.

Velocity Solutions also has an industry-leading overdraft solution, the Intelligent Limit System®.

Christopher Leonard, President of Velocity Solutions, said, “The IMPACT Overdraft Solution program makes it easier and less costly for banks and credit unions to manage overdraft services under Reg. E and various regulatory guidance on overdraft. We are excited about the opportunity to leverage this acquisition to serve smaller community banks and credit unions that we generally have not served with the Intelligent Limit System.”

The acquisition includes software and technology, staff from IMPACT, and over 160 IMPACT clients.

Robert Flowers, Sr., President of IMPACT Financial Services, said, “We know that our business will continue to grow and thrive with what Velocity brings to the table. We have been impressed with Velocity’s suite of profit enhancement solutions to help community and regional financial institutions in this challenging time, and encourage any banker looking for a way to boost income to delve into the opportunities that Velocity offers.”

About Velocity Solutions, Inc.
Founded in 1995 and managing nearly fifteen million transaction accounts, Velocity Solutions® is the leading provider of revenue enhancement solutions to regional and community banks and credit unions. Velocity’s solutions are designed to drive new accounts, increase transactional activity in existing accounts, generate additional fee income, increase account holder retention and address regulatory scrutiny. For more information, please visit www.myvelocity.com.

About IMPACT Financial Services LLC
IMPACT Financial Services has been a leading provider of revenue enhancement services to financial institutions since 1998. Headquartered in Franklin, Tennessee, a suburb of Nashville, IMPACT provides the technology and automation to support overdraft services and maintain compliance and profitability in today’s challenging banking environment. More information is available online at www.impactfinancial.com.

###

Contact:
Beth Planakis Velocity Solutions, Inc.
beth@myvelocity.com
www.myvelocity.com
954-847-5800 Ext. 183

Download the PDF: Click Here