ADELAIDE: Vencora, a global acquirer of financial services technology companies, announced Monday it has acquired Data Action (DA), a leading Australian provider of core and digital banking solutions.
The deal marks Vencora’s first acquisition of an Australian banking technology firm and significantly expands its presence in the region alongside its insurance technology business, SSP.
Founded in 1986 as a cooperative venture by eight credit unions, Adelaide-based DA serves financial institutions nationwide. The company now supports more than 5 million customer accounts and is a key platform provider for Australia’s challenger banks.
“We are thrilled to welcome DA to Vencora,” said Ateet Patel, portfolio manager at Vencora.
“Their innovation and strong client relationships make them an ideal fit as we expand in Australia and globally.”
DA will become the 18th brand under Vencora, retaining its name and operating independently while accessing Vencora’s industry expertise and global network.
Bank Australia CEO Damien Walsh said the partnership with DA would continue under Vencora’s ownership, adding, “We’re excited to see how this investment will benefit our customers long-term.”
Beyond Bank CEO David Marshall and Credit Union SA CEO Todd Roberts also welcomed the acquisition, citing Vencora’s international expertise and commitment to growth.
Financial terms of the deal were not disclosed.