Banyan Software, a leading acquirer and permanent home for great software businesses, is pleased to announce the acquisition of Automated Systems, Inc. (ASI). Founded in 1981 and headquartered in Lincoln, NE, ASI provides a comprehensive suite of solutions for community banks.
ASI offers a mission-critical platform that manages essential banking functions through a single system. The Insite Core Banking system, ASI’s flagship product, acts as the core system of record, connecting over a dozen additional modules, including teller management, digital banking, and mobile app solutions. ASI also provides outsourced back-office processing and hosting services for its software and clients’ IT infrastructure.
With an existing strong footprint in banking-related software businesses, Banyan is also announcing the formation of the Financial Institutions Group (“FIG”). ASI will be joined by Loan Vision as the initial members of the FIG, which will be led by Paul J. Loftus, CEO of Loan Vision. This alignment is designed to foster collaboration among the businesses in the group while they continue to operate independently. Mr. Loftus will be taking over as CEO of ASI, while long-standing ASI executives Todd Rolfes and Tim Schmidt will continue as CTO and COO, respectively.
About Automated Systems, Inc. For over 40 years, Automated Systems, Inc. has been providing core data processing and teller management solutions to community banks. Our relationship-focused approach, combined with our deep understanding of the community banking industry, enables us to deliver user-friendly and customer-focused products. The Insite Banking System™ is a flexible, Windows-based core banking platform that allows banks to meet current and future demands. Our experienced staff is dedicated to providing superior service and support to ensure seamless operations for our clients. For more information, please visit: asiweb.com.
About Banyan Software, Inc. Banyan Software provides the best permanent home for successful enterprise software companies, their employees, and customers. With a permanent capital base set up to preserve the legacy of founders, Banyan focuses on a buy and hold for life strategy for growing software companies. Founded in 2016, Banyan is backed by a world-class group of CEOs and investors with deep technology experience and currently operates across a growing number of verticals.
