Ceto Strengthens Service Offerings with VPCtech Acquisition
In a significant move to bolster its capabilities, Ceto, a leader in providing data-driven insights for financial institutions, has acquired VPCtech. This strategic acquisition is set to expand Ceto's service offerings and drive growth, as announced in Atlanta on August 14, 2024.
A Strategic Merger for Enhanced Service Delivery
Douglas Ceto, the President and CEO of Ceto, expressed enthusiasm about the acquisition: "We are pleased to announce the acquisition of VPCtech, a multifaceted organization that excels in Fiserv/DNA platform transformations, enhancing technology infrastructure, and platform optimization. This strategic move marks a milestone for Ceto, allowing us to expand our service offerings and drive growth."
Partnership to Empower Financial Institutions
The acquisition aims to create a future where financial institutions can confidently navigate challenges and seize new opportunities. Ceto and VPCtech share a vision to support financial institutions in optimizing their technology investments and processes, as emphasized by Alison Van Pelt, Partner and CEO of VPCtech. "Joining forces with Ceto enhances our ability to provide more capabilities to our clients at a critical time," said Van Pelt.
Combining Stability with Innovation
David Van Pelt, Partner and COO of VPCtech, highlighted the benefits of the merger: "The combination of our firms will enhance our ability to help clients navigate complexities by providing deep expertise in technology, risk, and vendor management. The marriage of a 30-year-old veteran and an 18-month-old start-up provides a unique blend of stability and innovation that will benefit our clients."
VPCtech's Rise in the Banking Technology Sector
Founded in 2019, VPCtech quickly gained a reputation for its performance and operational efficiency in banking technology, led by Alison and David Van Pelt. The firm rebranded in 2023, bringing decades of experience in optimizing core banking platforms.
Ceto's Legacy and Future Prospects
Founded in 1994, Ceto has served over 2,000 banks and credit unions across the U.S. and Canada. This acquisition enhances both companies' ability to serve the financial community, expanding their services to meet the evolving needs of financial institutions.
