WICHITA, KS--(Marketwired - April 11, 2017) - Juniper Payments, LLC dba LendingTools.com today announces its purchase of the LendingTools.com business. The acquisition brings with it the LendingTools software as a service platform that has connections with thousands of banks and credit unions across the United States. The system is utilized as a primary payments and reporting mechanism for the financial institutions that utilize the service.
Juniper Payments has rehired all employees of LendingTools, and will keep all operations intact in Wichita, Kansas. The transaction has been diligently structured to have no operational impact on customers. Juniper Payments will build on the existing services and resources of LendingTools to diversify its product portfolio and generate international growth. "The LendingTools system is the private market standard for financial institution wholesale cash management in the U.S.," said Jon Budd, CEO, Juniper Payments, LLC. "I have been part of LendingTools from the ground up, and now I have the opportunity to help lead this company to another level in the industry. The team we have is the best in the industry, and everyone is excited."
Additionally, Jorge Jimenez joins Juniper Payments as Chairman of the Board. Jorge is currently the CEO of eZforex.com, LendingTools' preferred partner for cutting edge international blockchain payments, and delivery of foreign banknotes to U.S. financial institutions. Jorge was previously a Product Development Director for International Payments at the Federal Reserve Banks.
Piteco S.p.A. (Milan, Italy), through the vehicle of Piteco North America, is an investor in Juniper Payments, LLC. Piteco is the specialist in providing modular and sophisticated cash management solutions to corporations worldwide. The companies intend to work together to market their services in a broad marketplace. "This is just the beginning of our efforts to greatly enhance our product portfolio and reach. This partnership is excellent for our employees, customers and long-term growth," said Jon Budd of the transaction.
About Juniper Payments, LLC dba LendingTools.com
Headquartered in Wichita, KS, Juniper Payments, LLC is the largest non-bank third-party provider of inter-bank transaction and reporting systems in the Unites States. Serving thousands of financial institutions nationwide. Juniper Payments demonstrates strength, vision and reliability in serving correspondent financial institutions and their respective user bases. Juniper Payments products are delivered as a Software-as-a-Service. Please visit www.LendingTools.com for more information.
Operating for more than 30 years, Piteco is a Software House and the absolute leader in Italy in proprietary solutions for Treasury management and Financial Planning for large and medium sized firms in the industrial and service sector. The company's name comes from the treasury system PI.TE.CO (PIanificazione TEsoreria COmputerizzata, or Computerised Treasury Planning), among the first treasury products created in Italy at the beginning of the 1980s. Piteco software is already operational and used in more than 40 countries worldwide. With 85 highly qualified professionals and 3 branches (Milan, Rome, Padua), Piteco guarantees high-level performance and excellent service to around 650 national and international groups operating in all industrial sectors. Milan, the headquarters, coordinates the activities and hosts the customer care service. Since July 2015 Piteco is listed in AIM Italia market, managed by Borsa Italiana.
Piteco is a subsidiary of Dedagroup ICT Network (Dedagroup), which recently entered the U.S. market by becoming a majority shareholder in the EPL, Inc., (an Alabama based Credit Union Service Organization).