Banking-focused technology firms UFS and BankOnIT have merged.
UFS, which specializes in core banking solutions, managed IT services and cybersecurity, and BankOnIt, a cloud infrastructure provider, announced the merger in a press release. Financial terms were not disclosed.
The deal gives UFS clients access to a broader suite of managed IT services and real-time security solutions, while BankOnIt customers will have more options for digital and payment solutions and advisory services.
“At UFS, we believe the right technology partner is one who listens carefully, responds thoughtfully, and provides leadership—especially when the landscape is becoming more complex,” Eric Jones, UFS’ president and CEO, said in the release. “Coming together reflects that philosophy. It’s about getting better in ways that matter for the community banks we serve, while remaining true to our purpose and relationship-first philosophy.”
“Our team has always focused on making IT simpler, more secure, and aligned with how community banks desire to operate,” Ryan Samples, BankOnIt’s founder and CEO, added. “Too often we have seen banks limited by their approach to technology and the difficulty they encounter in hiring and retaining tech talent. Joining forces is about removing those constraints and delivering flexible solutions through a unified, strategic lens that supports banks as they scale and evolve—helping banks simplify, gain efficiencies, reduce risk, and stay focused on serving their communities.”
Jones will remain president and CEO. Samples, will join the board and serve as a strategic adviser.