FORUM Solutions, a wholly-owned subsidiary of FORUM Credit Union ($1B, IN) and Akcelerant Software LLC, announce that Akcelerant has purchased the TAPS® lending software which includes all licenses, rights, and support of TAPS® customers. FORUM Solutions developed the first version of the TAPS® software in 1999 to help FORUM Credit Union improve consumer lending processes and has continually made investments in the product since then. Today the product runs on Microsoft’s SQL Server using .Net technology. It also has a sophisticated business process engine built on InterSystems Ensemble.

“The TAPS® software grew from a need FORUM Credit Union had that was not being met by other products in the marketplace,” says FORUM Solutions co-founder and SVP of technovation at FORUM Credit Union Doug True. “At the time we had no vision of establishing a CUSO to help other credit unions, and now, eight years later, we did not imagine that we would be selling the software rights to another organization.” True says the CUSO’s core competency has always been innovation and helping credit unions solve problems. He acknowledges that while TAPS® continues to be a leading lending software platform, continued investment is needed to advance the product in the manner needed to keep it ahead of the competition. “Akcelerant’s technology, vision, and abilities are a perfect fit for TAPS®. They have the resources and commitment to take TAPS® to a higher level and keep it on the cutting edge of lending innovation,” comments True. “We are excited about the opportunity to bring two market leading products together for the benefit of so many credit unions,” says Akcelerant Software’s CEO Jay Mossman. Akcelerant currently provides the Akcelerant Framework software for collections, service, sales, and marketing to over 200 credit unions and banks nationwide, including 25 of the nation’s largest 100 credit unions. “Our immediate plans are to integrate TAPS® into the Akcelerant Framework and to enhance TAPS® business lending and account opening functionality.” says Mossman. Akcelerant will propose a “no license fee” solution to TAPS® and Akcelerant customers for a combined Akcelerant Framework lending and collection solution.

The sale was finalized effective April 1 and transition of sales, support, and implementation of the TAPS® lending software to Akcelerant will begin immediately.

FORUM Solutions will continue to operate as a wholly-owned subsidiary of FORUM Credit Union and will maintain a focus on developing new innovations. “We have a patent-pending new product involving how members interact with the credit union and are excited to turn our full attention to this product’s completion and launch,” says True.