Q & A with Ryan McCurry of ACHWorks About the Future of Small Business Lending
In a recent chat, deBanked talked with Ryan McCurry, President of ACHWorks. McCurry discussed the future of his company, payments, small business financing, and the impact of digital assets on the industry.
Q (Adam Zaki): Your company recently announced an acquisition. How does this move help take ACHWorks to where the company wants to go?
A (Ryan McCurry): We are excited to share that ACHWorks was acquired by VeriCheck Inc. on December 31, 2021. VeriCheck Inc. (VCI) is a wholly owned subsidiary of Commercial Bank of California (CBC), who has been one of ACHWorks’ sponsor banks for nearly 20 years.
The acquisition brings more resources, both in terms of staffing and capital to ACHWorks’ business efforts. Conversely, ACHWorks’ sales approach, market specializations and diverse technical capabilities will support VCI’s growth goals. By combining the teams and technology, we believe we will compound our benefits to reach an even higher level of success together.
The great news with this acquisition is that where ACHWorks was weak, VCI is strong. Likewise, ACHWorks has some unique technology and expertise that VCI hadn’t leveraged before and can now capitalize upon.
Furthermore, VCI relies heavily on partnerships with ISO’s and third party gateways for processing ACH payments with a high number of merchants across all sectors, whereas ACHWorks tends to specialize in a few verticals while maintaining direct sales and direct relationships with all merchants – even when the merchant is utilizing an integrated software partner.