Ceto acquires VPCtech to enhance banking technology solutions

Ceto, a prominent player in providing data-driven insights for financial institutions, has made headlines with its acquisition of VPCtech. This strategic move is poised to enhance Ceto’s capabilities in banking technology and expand its service offerings, marking a significant development in the financial technology sector.

Strategic Acquisition to Expand Financial Technology Services

The acquisition of VPCtech is set to significantly bolster Ceto’s position in the financial technology market. Douglas Ceto, President and CEO of Ceto, emphasised the strategic importance of the merger, stating, “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. With this union, we are poised to deliver even greater value and innovative solutions to financial institutions.”

This acquisition aligns with Ceto’s strategic objectives of expanding its technological capabilities and service range. The integration of VPCtech’s expertise will enable Ceto to offer a more comprehensive suite of solutions, addressing the evolving needs of financial institutions and enhancing their operational efficiency.

VPCtech Brings Expertise and Fresh Perspectives

VPCtech, established in 2019, has swiftly built a reputation for its proficiency in banking technology and operational efficiency. The firm’s recent rebranding in 2023 and its leadership under Alison and David Van Pelt, who have extensive experience in core banking platform optimization, have positioned VPCtech as a significant player in the industry.

Alison Van Pelt, Partner and CEO of VPCtech, commented on the merger: “We are thrilled to join another family-owned business that shares our vision to help financial institutions optimize their technology investments and processes. Financial institutions are under stress, and this transaction accelerates our ability to provide more capabilities to our clients at a critical time. The Ceto brand represents over 30 years of trust, integrity, and expertise. We are proud to be joining forces with a like-minded team that shares our values.”

David Van Pelt, Partner and COO of VPCtech, added: “Banking technology is rapidly changing, creating challenges and opportunities. Joining Ceto will allow us to help more institutions with a comprehensive suite of technology solutions. 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.”

Enhancing Service Capabilities for Financial Institutions

Founded in 1994, Ceto has long been a trusted provider of technology solutions, serving over 2,000 banks and credit unions across the U.S. and Canada. The company’s established presence in the industry is expected to be reinforced through this acquisition.

VPCtech’s rapid ascent in the banking technology sector is attributed to its focus on performance and operational efficiency. By integrating VPCtech’s capabilities, Ceto aims to offer enhanced solutions that address the dynamic needs of financial institutions. The merger is anticipated to bring together Ceto’s extensive experience and VPCtech’s innovative approach, providing a robust combination of stability and cutting-edge technology.

Industry Impact and Future Prospects

The acquisition is expected to have a significant impact on the financial technology landscape. With the integration of VPCtech, Ceto is set to enhance its ability to deliver comprehensive and innovative solutions. The move reflects a broader trend in the industry where established players seek to bolster their capabilities through strategic acquisitions.

The combined expertise of Ceto and VPCtech will enable them to offer more robust solutions in technology transformation, risk management, and vendor management. This merger is likely to set a new benchmark in the industry, driving growth and delivering greater value to financial institutions.