- Digital communications platform Eltropy has acquired video banking company POPi/o.
- Financial terms of the deal were undisclosed.
- With today’s acquisition, Eltropy now helps more than 400 Credit Unions reach their members via digital channels.
Digital communications platform Eltropy announced it has acquired video banking expert POPi/o. Financial terms of the deal were undisclosed.
Eltropy expects the purchase will strengthen its digital communications platform which enables financial institutions to engage in digital channels, such as social media, in a compliant manner. Today’s acquisition adds 100 credit union clients to Eltropy’s roster. The company now helps more than 400 credit unions reach their members via digital channels.
POPi/o offers banks a range of communication technologies ranging from high-tech to high-touch. The Utah-based company offers automated chatbot technology, video support from an in-branch specialist, and collaboration tools such as co-browse, video check deposit, identity verification, document sharing, and e-sign.
“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,” Eltropy Co-Founder and CEO Ashish Garg. “Our world-class digital communications platform helps credit unions deliver on the promise of digital transformation — improving online and in-branch experiences for members and allowing for more rapid expansion in new markets without the need for a physical presence.”
Founded in 2013, Eltropy offers credit unions to help them reach their customers where they are. Leveraging POPi/o’s technology, Eltropy will offer clients automated, AI-driven text messaging, video banking, secure chat and chatbots, co-browsing, screen sharing, video check deposit, and more. In addition to providing compliance in these digital capabilities, Eltropy also offers communication analytics that provide insights into member engagement.
“Throughout my career, I have been focused on the consumer experience while creating enormous value to financial institutions,” said POPi/o Founder and Chairman Gene Pranger. “Through the merger of POPio’s Video Banking and Eltropy’s sophisticated digital communications platform, we will be able to fulfill both objectives.”
Earlier this spring, Eltropy celebrated the milestone of partnering with more than 300 credit unions across the U.S. And in April, Eltropy integrated with financial services software provider MeridianLink to help the company provide text messaging capabilities, secure document collection and sync, and instant notifications from within its platform. Eltropy most recently demoed at FinovateSpring 2018.
Photo by Helena Lopes on Unsplash
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