Author: Christine Thropp|| Date Published: November 18, 2024
Summit Technology Group has rebranded to Allocore, Bill Webner, CEO of STG’s public sector business, told GovCon Wire.
The business rebrand took effect Monday and followed the opening of a new office in Arlington, Virginia.
According to its business summary, Allocore utilizes a secured and unified platform to support government loans, grants and fraud prevention programs.
“With trillions in loans and grants processed and billions in fraud prevented, Allocore brings the precision of commercial banking technology to the public sector,” it reads. “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.”
Webner, a 2024 Wash100 Award recipient, said in June when his CEO appointment was announced, “I am excited to join STG and work with our Federal clients to transform and modernize their loans and grants platforms. Our partnership with Enlightenment Capital ensures that we can continue to bring this innovation at scale across the public sector.”
Allocore’s platform is designed to support complex loan and grant programs. It uses artificial intelligence-powered technology to streamline workflows by intelligently organizing, categorizing and safeguarding documents. It is also fully integrated with the leading vendors and tools.
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