News

CheckAlt acquires receivables solutions provider Klik

June 20, 2016

CheckAlt, a provider of mobile and Check 21 payment and item processing solutions, has acquired Klik Technologies Corp.

Previously owned by New York-based MUFG Union Bank N.A., Klik provides receivables solutions to financial institutions and direct clients.

Under the CheckAlt name, the combined company will serve a greatly expanded customer base, and provide a broader set of solutions for payment processing capabilities, according to a press release.

The company's proprietary software focuses on electronically capturing, processing and analyzing check data and images, including those captured on mobile devices, a rapidly growing area in the FinTech industry.

"We are very excited to announce this transaction, as Klik is a highly regarded addition to CheckAlt," said Shai Stern, CEO and co-chairman of CheckAlt. "The acquisition enables CheckAlt to extend its current capabilities while meeting client requirements with an even greater execution and service delivery through the addition of a broader footprint and expanded customer base."

Klik is now a wholly owned division of CheckAlt. The combined company has a staff of approximately 300 with 17 processing sites nationwide, the press release said.