Kinective has acquired ATM and self-service technology provider ESQ Data Solutions for an undisclosed sum as it looks to enhance its banking operations platform with cash device management capabilities.
Founded in 1989 in California, US, ESQ’s product suite comprises three core offerings: OperationsBridge, its flagship solution for ATM management, including real-time monitoring, process automation, and actionable insights; DataEdge for data integration and analytics; and tools for HPE NonStop servers.
This suite is currently used to monitor nearly one million self-service devices globally, processing over 1,000 real-time data points per minute and handling nearly 2,900 transactions per second on peak days.
Kinective says the acquisition, its fourth in the technology sector this year, brings “real-time device analytics, proactive alerts, and automated monitoring and recovery capabilities” to its banking operations platform.
Kinective is the result of the June 2023 merger between banking connectivity software provider CFM, document workflow automation company IMM, and API integration solutions firm NXTsoft. The combined platform “unifies branch automation, document workflow, secure connectivity, and data intelligence”, Kinective says. The company currently serves over 4,000 financial institution clients.
The deal for ESQ follows the acquisitions of data aggregation firm Datava in April, Epic River and its eNotary and Remote Online Notary technology in May, and credit union service organisation Janusea in July. Current Kinective backers include TA Associates and OceanSound Partners.
“We’re now the only platform that unifies every critical operational touchpoint, from the moment cash enters a branch teller recycler to when a customer withdraws funds from an ATM many miles away,” comments Stephen Baker, CEO of Kinective.
Source: https://www.fintechfutures.com/
