Akcelerant of Malvern announced it has added 20 new customers so far this year and that it is continuing to expand into the $1 billion credit union sector.

The firm, a provider of software and services to the financial industry, said it surpassed 60 percent market share of credit unions measuring $1 billion or above in assets. The company services financial institutions seeking innovative software and solutions to manage the key business areas of loan origination, collection and profitability.

In June Akcelerant signed Altra Federal Credit Union, a $1 billion credit union based in Onalaska, Wis. Altra is a Fiserv Spectrum user serving over 80,000 members.

“We spent a long time evaluating collection software, but Akcelerant continuously emerged as the authority in software solutions for financial institutions,” said Jeannie Bakewell, manager of credit services at Altra.

“We were impressed with the real-time refresh and workflow capability, but we were really excited about the integration with third-party providers. We anticipate a substantial improvement to our efficiency from being able to host all of our activities on one platform.”

Akcelerant says more than 500 financial institutions in North America are using its technology.