Altech NuPay, part of the Altron group of companies and the leader in managed electronic payment solutions, announced today the acquisition of Delter IT Services, a microfinance software development company providing consumer management systems to credit providers.Delter IT Services currently manages back office integration services for the entire life cycle from loan origination to collections, whilst ensuring that all regulatory requirements are met and the client is compliant. The payment platform is integrated to the payment and collection services of Altech NuPay ensuring that a business operates effectively and efficiently.This acquisition is of strategic importance to the Altech NuPay business in that it extends its reach in the microfinance industry while opening opportunities in other industries.There are typically three major elements to the microfinancing lifecycle for any client, namely:1. Loan management2. Payments and collections3. Credit bureausAltech NuPay currently operates in the payments and collections arena, and now with the acquisition of Delter IT Services, extends its services into the loan management field. While Altech NuPay is not actively involved in the credit bureau space, these services are integrated into Delter IT Services’ Delfin suite of products, meaning that Altech NuPay will now be represented in all elements of the microfinancing lifecycle.
According to Derek Chaplin, Managing Director of Altech NuPay, the rationale behind the acquisition is to bring Altech NuPay closer to its customers: “Delter IT Services operate in the space between Altech NuPay and the microfinance industry, providing the IT environment or software for the loan process to take place before linking to Altech NuPay which warehouses and manages the transaction for collection. By acquiring Delter IT Services, we now own that important piece of the chain, and can work even more closely with our customers. We anticipate a lot of organic growth and an increase in annuity revenue as a result of this acquisition.”Pieter du Toit, Managing Director of Delter IT Services had this to say of the acquisition: “I believe that Altech NuPay and Delter IT are a great match, with similar customer bases and servicing clients in similar industries. This synergy makes the acquisition a logical fit, which will bring about enhanced opportunities to grow and take the business to the next level. Delter IT clients can expect the same level of service they have previously enjoyed, along with the additional benefits of new products and services from the Altech NuPay stable.”-ENDS-
JSE listed Allied Electronics Corporation Limited (Altron) today announced the restructuring of its executive committee to create a leaner group structure th