Summit Technology Group (STG), a leading provider of commercially available, cloud-native technology for complex public sector, regulatory, and financial workflows, announced it is rebranding to Allocore. Allocore is a portfolio company of Enlightenment Capital.<\/p>\n
The rebranded company and product strategy mark the culmination of a multi-year effort to deploy its proprietary software across numerous government lending, grants, and fraud management programs.<\/p>\n
Today\u2019s announcement solidifies Allocore\u2019s position within the public sector market, allowing agencies to migrate from their legacy loan origination, servicing, grants, and fraud management technologies to a more cost-effective and robust platform, all within an AWS-based, cloud-native FedRAMP environment.<\/p>\n
Allocore Highlights:<\/p>\n
Allocore was founded with the vision of bringing large commercial bank technology expertise to the government sector. \u201cOriginally established as Summit Technology Group 18 years ago, we set out to modernize loan programs for both commercial financial institutions and public sector lenders,\u201d said Bill Webner, Chief Executive Officer of Allocore. \u201cSince then, Allocore has proven its value in some of the largest government loan, grant, and fraud prevention programs.\u201d<\/p>\n
The name Allocore is inspired by the Greek word \u201c\u00e1llos,\u201d which translates to \u201cother\u201d or \u201cdifferent.\u201d This reflects the company\u2019s commitment to driving innovative and transformative change within the public sector. The term \u201ccore\u201d represents Allocore\u2019s unified platform for government loans, grants, and fraud programs, ensuring that each phase of the process operates with unparalleled precision and efficiency.<\/p>\n
Allocore\u2019s loans, grants, and fraud solutions deliver the full lifecycle of complex financial and regulatory workflows, including detecting and preventing fraud, waste, and abuse, automating underwriting, and facilitating integrated loan servicing, all through Allocore\u2019s One Platform:<\/p>\n
For more information about Allocore and its One Platform for public sector loans, grants, and fraud management solutions, please visit\u00a0www.allocore.com<\/a>.<\/p>\n About Allocore<\/p>\n Allocore powers the leading government loans, grants, and fraud prevention programs with a unified platform built for efficiency and security. With trillions in loans and grants processed and billions in fraud prevented, Allocore brings the precision of commercial banking technology to the public sector. Our cloud-based, commercially available platform offers a comprehensive suite of solutions, from loan origination and servicing to grant management and fraud detection, ensuring swift and accurate decision-making for complex government financial services. For more information, visit\u00a0www.allocore.com<\/a>.<\/p>\n About Enlightenment Capital<\/p>\n Enlightenment Capital, a Washington, DC area based private investment firm, makes control and strategic, non-control investments in middle market companies in the Aerospace, Defense, Government & Technology (ADG&T) sector. The firm partners with businesses that provide vital services, protect critical infrastructure, innovate cyber and data solutions, enhance decision making capabilities, engineer aerospace and space systems, safeguard national security, and endeavor to meet the challenges of today and tomorrow. For more information,\u00a0visit www.enlightenment-cap.com<\/a>\u00a0and follow us at\u00a0www.linkedin.com\/company\/enlightenment-capital<\/a>.<\/p>\n