Online account opening provider Andera Inc. announced Tuesday that it has acquired oFlows Inc.

The combined company will create a front to back online account opening provider with expertise in multi-channel origination for deposit, loan, investment and insurance products.

Andera, of Providence, R.I., specializes in back-end technology that includes a software development kit that lets banks design their own account opening procedure online. It also handles customer verification and fraud detection of potential account holders.

OFlows, of San Francisco, which Bank Technology News named one of the top 10 companies to watch in 2011, specializes in multi-channel account opening processes, including branch, call center and mobile.

Andera's account-opening systems focus on deposit accounts, whereas oFlows focuses on non-deposit accounts.

"Our vision has been to streamline the signup process for all accounts throughout all the banks' delivery channels," Charlie Kroll, Andera's chief executive says.

The deal closed October 5. Other terms were not disclosed.

The combined company will be called Andera Inc., and it will continue to be headquartered in Providence.

Scott Pitts, who was CEO of oFlows, has become Andera's chief product officer.

Rajesh Jayaraman, who was chief technology officer at oFlows, will be CTO for Andera, with responsibility for the combined technology team.

"The combination of Andera and oFlows [marries] all the research and development we have done on the front end with multi-channel and mobile, with the deep ecosystem of data and connectivity and licensing that Andera has built up over the years," Pitts says.