Andera Signs 200th Financial Institution Customer

"Celent investigated the market for online account opening and funding in July of 2007, and forecast that industry penetration would grow from 2% at that time to 20% by 2010," said Edward Woods, Analyst with Celent. "As financial institutions increasingly look to cross sell existing customers and acquire new customer relationships online, the rapid pace of industry adoption is accelerating as projected."

Andera's 200 customers are some of the most progressive and innovative financial institutions in the U.S., ranging in size from large top-10 banks to community banks and credit unions, and collectively represent a total of nearly $450 billion in assets.

"After spending more than three years adding our first hundred customers, we're thrilled to have achieved our second hundred in less than sixteen months," said Charlie Kroll, CEO of Andera. "As the financial services industry continues to realize the hidden potential of the online channel as a sales and revenue driver, we expect this pace to only accelerate further. We are still only in the early market, and I continue to believe we are just scratching the surface of what will be possible."