Markham, Ontario, Canada - Vertus Group (formerly Jonas Software's Club & Hospitality Portfolio) is pleased to announce the acquisition of Lean Industries ("Lean"). Lean was founded in 2005 with the purpose of delivering solutions for disputed consumer-originated financial transactions, in both the card and non-card payments space, for both fraud and non-fraud disputes. Since its founding, Lean has developed two core products. AdjustmentHub is a dispute case management software providing customers with pre-built functionality and standardized workflow interfaces to streamline and manage disputed transactions. NetworkHub is a patent pending system providing standardized interfaces with payment networks, such as Mastercard and VISA, to orchestrate the dispute management process.
"We are thrilled to have the Lean team join Vertus Group," said Jim Fedigan, Group CEO at Vertus Group. "Lean is a market leader in dispute management and we are excited for the future growth opportunities with the business."
"We are delighted to become part of Vertus Group," said Dave Noah, CEO of Lean Industries. "It is exciting to be able to leverage Vertus Group's proven best practices for software companies in order to expand our product and service offerings. Following years of searching for the right-fit partner, we are excited to become part of Vertus Group. We will remain Lean Industries in all of our strengths and now be able to leverage Vertus Group's proven best practices for software companies to fortify our operations and customer deliveries for even higher quality and expansions across our product and service offerings."
Jim Schlegel, President of Lean Industries added, "For almost 20 years, Lean Industries has been successfully serving the financial services industry with our disputed payments technology and expertise. Becoming part of Vertus Group marks a new chapter in our journey and it will be one where we continue to build on the foundations of client-centricity, innovation and agility that make Lean Industries exceptional."
About Lean Industries
Lean Industries is focused exclusively on delivering solutions for disputed consumer-originated financial transactions, in both the card and non-card payments space, for both fraud and non-fraud disputes. Lean provides their AdjustmentHub and NetworkHub software products and implementation services to large financial services companies across the United States and Europe, with dispute resolution workflows spanning debit, credit, and prepaid card payment transactions. Their software products results in a highly efficient and automated back office operational structure, with commensurate cost savings and productivity improvements.
About Vertus Group
Vertus Group operates over 20 independently managed software brands around the world, providing them with the strategic guidance and financial security required to be leaders in their respective markets. From its roots formed in the club management and hospitality markets, Vertus Group's reach has grown extensively and expanded to new verticals like dispute management and developer tools. Today, Vertus Group is proud to supply industry-leading enterprise management software and related services to businesses in more than 100 countries across multiple verticals.
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