Eltropy, a digital communications platform for financial institutions, has announced the acquisition of video banking provider POPi/o for an undisclosed sum.

Eltropy will leverage this acquisition to further bolster its digital communications platform. The merged entity will serve more than 400 credit unions. 

With POPi/o’s video banking and contact centre technology, Eltropy offers credit unions a single platform for automated text messaging powered by AI, video banking and secure chat.

Additionally, the deal will allow Eltropy to offer chatbots, co-browsing, live observe, screen sharing capabilities, eVerify, eNotary, eSign and video check deposit services, the firm said. 

Eltropy co-founder and CEO Ashish Garg said: “During the pandemic, Credit Unions faced the twin challenges of finding new ways to connect with their members remotely while continuing to streamline in-branch services. 

“By joining forces with POPi/o, we are empowering Credit Unions to build robust virtual branch capabilities and serve members anytime, anywhere, in the channel of their choice.

“Our world-class Digital Communications platform helps Credit Unions deliver on the promise of digital transformation—improving online and in-branch experiences for members and allowing for more rapid expansion in new markets without the need for a physical presence.”

POPi/o founder and chairman Gene Pranger said: “Through the merger of POPi/o’s video banking and Eltropy’s sophisticated digital communications platform, we will be able to fulfil both objectives. 

“Now your members will enjoy seamless communication that will help them find the financial answers and solutions they need while making you the most productive FI in the markets you serve.”