Upon closing, Dataline became a wholly-owned subsidiary of CWS. The closing of the transaction was effective January 1, 2023. “We are excited to explore acquisitions of companies, assets, or capabilities that expand CardWorks’ businesses and are in line with our vision for the future, particularly if we are lucky enough to find teams as talented as the Dataline team.” “Our experience through cycles, disciplined approach to growth, and compliance-focused culture have led to the fortunate position of having a strong balance sheet and capital levels,” Pillemer said. Cash transactions are quickly becoming a thing of the past. Today’s acquisition also signaled a strategic shift at CardWorks to explore inorganic growth opportunities. Dataline will, in turn, be able to grow its core business with existing clients, CWS clients and new clients, generating new opportunities. Expands Bank On-Certified Financial Empowerment Checking AccountĬWS will provide Dataline a greater breadth of resources, capabilities, and operational support to take their platform to an even higher level of client service. Latest Fintech News: Sunflower Bank, N.A. Our team could not be more excited about becoming part of the CardWorks family, where we see energy, excitement, enthusiasm, and a team that is committed to doing the right thing.” As such, the acquisition will further strengthen our end-to-end credit card and installment loan portfolio management and servicing offerings for banks, credit unions, non-bank lenders, and asset managers.”Ĭollin York, the founder of Dataline, continued, “For nearly 37 years, Dataline has partnered with financial services companies to design, develop, and implement customized business process outsourcing and financial services operations support solutions that are enabled by optimized data management. Matt Berman, Head of the Servicing Business at CardWorks, added, “Dataline has unique capabilities in payment disbursement services, data reporting and analytics, and business process automation, each of which are additive to our existing CWS capabilities. Latest Fintech News: NFTpay Now Supports Polygon Blockchain
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Learn what makes CardWorks a great place to work & how to find open job positions. Financial terms of the transaction were not disclosed.ĭan Pillemer, President & Chief Executive Officer of CardWorks, said, “This transaction brings together two companies that offer best-in-class services that are highly complementary, run on values inspired by their founders and, importantly, have similar people-centric cultures focused on doing the right thing while putting customers first.” CardWorks is a Top Workplace award winner. Founded in 1986, Dataline is an Apopka, Fla.-based privately-held provider of business process outsourcing and financial services operations support. (“CardWorks”) and one of the largest privately-held providers of end-to-end outsourcing support services for credit card and installment loan products in North America, announced it has successfully completed the acquisition of Dataline Systems, LLC (“Dataline”). Hinshaw’s legal team, led by partners Timothy Sullivan, Kyle Fonjemie, and Ofonedu-lme served as transaction counsel to CWS on the deal.Dataline brings unique capabilities in payment disbursement services, data reporting and analytics, and business process automation that are additive and complementary to CardWorks ServicingĬardWorks Servicing, LLC (“CWS”), a wholly-owned subsidiary of CardWorks, Inc. As a leading consumer firm, they service their consumer and small business loan clients across the credit spectrum, from super-prime to non-prime, and provide comprehensive support to bank and non-bank lenders in the United States.
In a press release, Matt Berman, Head of the Servicing Business at CWS stated that "Dataline has unique capabilities in payment disbursement services, data reporting and analytics, and business process automation… As such, the acquisition will further strengthen our end-to-end credit card and installment loan portfolio management and servicing offerings for banks, credit unions, non-bank lenders, and asset managers."ĬWS is one of the largest privately held providers of end-to-end operational servicing and support functions for credit card and installment loan products in North America. Hinshaw congratulates firm client, CardWorks Servicing, LLC (CWS), on recently completing its acquisition of Dataline Systems, LLC (Dataline), a privately-held provider of business process outsourcing and financial services operations support.
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