PROVIDENCE – Andera Inc., the online banking and account software provider, signed its 300th customer earlier this month, marking another milestone for a firm started while its founder was still a Brown University student.
“Our entire team is deservedly psyched and should be really proud of what we’re accomplishing,” Andera founder and CEO Charlie Kroll wrote on his blog. He did not disclose the identity of the 300th customer. The company reached 100 clients in 2006, three years after signing its first customer, and 200 clients last year.
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“As these milestones come and go we never lose sight of what’s important – that we keep our promises and ultimately provide great service to the clients who entrust us with their online channel and increasingly scarce budgets,” added Kroll, who founded Andera in 2000.
Andera’s product platform provides software to assist financial institutions in allowing customers to open and fund new accounts on the Internet. Most of the company’s clients are banks with assets of $250 million to $50 billion, including PNC Bank. Since 2007, the company has partnered with Yodlee, another account-service provider, to extend the scope of its product offering.
The client milestone comes three months after Javelin Strategy & Research, a consulting firm, gave Andera high marks in a report on Online Account Opening services, saying it and competitor CashEdge have the two products that “stand out above the pack,” although the analysts acknowledged Andera “has struggled to keep pace with its rapid growth.”
Additional information is available at Andera.com.
