June 27, 2017 7:32 AM ET

Software

Company Overview of Velocity Solutions, Inc.

Company Overview

Velocity Solutions, Inc. provides revenue enhancement solutions to regional and community banks, and credit unions. It offers Account Revenue Solution that increases checking account activity among existing accountholders and converting unprofitable accounts into revenue producing accounts; Accounts+, a solution for checking account acquisition, as well as onboarding and activating existing accounts; Invitation Checking System, an automated referral strategy for clients to increase account openings and account profitability; and My Interest Checking that allows clients to offer higher interest rate deposit products while having a revenue stream from merchants. The company also provides Relat...

101 North East 3rd Avenue

Fort Lauderdale, FL 33301

United States

Founded in 1995

Phone:

333-460-939

Fax:

910-254-4739

Key Executives for Velocity Solutions, Inc.

Chief Executive Officer and President
Founder and Director
Co-Founder and Director
Co-Founder and Director
Chief Financial Officer
Compensation as of Fiscal Year 2016.

Velocity Solutions, Inc. Key Developments

Velocity Solutions, Allied Solutions Offer Short-Term, Small-Dollar Loan Program

Allied Solution has added Velocity Solution's newly launched lending product, CashPlease, to its portfolio. CashPlease is an automated small-dollar, short-term loan program that allows banks and credit unions to provide their account holders with easy access to cash at affordable interest rates, while staying compliant and being much more efficient than manual processes. The CashPlease platform is offered by Velocity Borrower Logic, LLC. CashPlease is a simple-to-use application that allows consumers to apply for loans 24/7 on their institution's branded CashPlease website or mobile app. Loan amounts generally range from USD 100 to USD 1,500, and do not require a traditional credit check. An ability-to-repay determination is made by Velocity's data-driven proprietary algorithm. Consumers will know immediately whether they are approved for a short-term loan, and the funds will be deposited directly into their account.

Velocity Solutions and Allied Solutions Team up to Deliver Revenue-Generating Products to the Financial Marketplace

Velocity Solutions and Allied Solutions announced a strategic partnership that will offer Allied’s extensive network of financial institutions access to Velocity’s dynamic suite of revenue enhancement products. Initially, the solutions that Allied will launch via this new relationship are the Intelligent Limit System®, ODM Guardian™ and the My Rewards™ Premium Debit Card Program. Allied Solutions and Velocity Solutions are two organizations that separately aim to help financial institutions mitigate risk, manage compliance, and provide better service to their account holders; through this new relationship, Velocity and Allied hope to strengthen this aim. Velocity’s Intelligent Limit System® (ILS) provides financial institutions with automated tools and technology to manage overdraft services as a line of business, while better serving consumers and meeting expectations for regulatory compliance. ODM Guardian™ is tailored to the needs of community financial institutions, and allows these institutions to simplify and centralize processes, identify and mitigate risk, manage compliance, and provide better overall service to account holders.

Velocity Solutions Appoints Steven Swanston as Executive Vice President of Sales

Velocity Solutions announced that Steve Swanston has joined the company as Executive Vice President of Sales. Steve previously spent 10 years working at John M. Floyd & Associates (JMFA) where he was instrumental in the firm’s sales growth.

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Recent Private Companies Transactions

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