Proactive Inc., a compliance software company in Duluth, Ga., has been acquired by U.S. Banking Alliance Inc., an Atlanta-based financial services company.
Founded in 1990, USBA advises managers and directors at 500 banks on a variety of financial matters.
Proactive's leading product, CompliancePro, helps bankers comply with all federal banking rules. The software is a step-by-step prompting program that walks bankers through regulations. The system reminds bankers to make certain disclosures and provides documentation for bank records and to show examiners.
"USBA's ability to serve the regulatory compliance needs of our clients is greatly enhanced by the acquisition of Proactive," said Ron Wallace, president of USBA.
Dale Johnson, a former banker who started the software company two years ago, will continue running it.
Proactive brings about 150 customers to the deal, only a few of which overlap with USBA's. "It makes sense to pool our resources into one company," said Mr. Johnson.
He added that he looks forward to working for a business with broad banking expertise.
USBA also has acquired Financial Suppliers Inc., Atlanta, which sells bank operations products such as teller machines, vaults, and safe deposit boxes.