Albany, NY, February 22, 2017 --(PR.com
)-- Do you see the repeated adverts for bail? No. Until the 2am call comes in. A loved one is trapped in a cage and only you can get them free. As Stephen Covey says, this is now both urgent and important.
Bail is an "instant" industry. Digital solutions turn the gears to check backgrounds, obtain electronic signatures, process cash transfers and deliver the magical bond that changes a family member’s life.
Captira Analytical provides the silent software backbone to bail agents to manage and bring bonds to life – processing over $1.3 billion every 90 days. This provides relief to countless families across the country, saving billions of county dollars as judges release persons from the taxpayer funded cost of incarceration for those they view as lower risk and worthy of bail.
Captira was acquired effective January 31, 2017 from the NASDAQ listed Intersections Inc. “The transaction was about focus and the need to innovate,” says Kevin Potter, the new CEO of Captira. “The seller as a public company moved to focus on its core business but we needed to focus on bail, exclusively.” Competitive pressure between bail agents demands innovative solutions at ever lower cost from their vendors. Industry needs are being influenced by a new landscape of perceived government over-reach plus the impact of mobility to define a new phase. This will lead to collaborative engagement of vendors, bail agents, bail sureties and influential state and industry associations like the American Bail Coalition and Professional Bail Agents of the United States.
The change balanced both continuity and the addition of new talent. The operational management team remains and Steven Sjoblad, who oversaw a decade of consistent customer growth, is moving to Chairman. “Following the transaction, Captira has no debt and with a subscription base tracking a 20%+ cash EBITDA margin, we are pleased with the impact of our decisions during the transition and are now well positioned for a new era of engagement and products to be delivered to the bail industry.”