Cornerstone Advisors Acquires Coastline Analytics, Adding Advanced Analytics Expertise to Its Financial Services Consulting Offerings

Cornerstone Advisors announced its acquisition of Coastline Analytics, a Florida-based firm specializing in advanced data analytics applications for community-based banks and credit unions.

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“Through this acquisition, we are adding unmatched analytics, machine learning, and data science consulting expertise to the comprehensive list of services we provide to our financial services clients,” said Scott Sommer, chief executive officer at Cornerstone Advisors.

Coastline Analytics Co-Founder Steven Simpson joins Cornerstone to head up the firm’s Data Science Division. Simpson has been employed by or consulted with some of the most reputable organizations in the world, including Bank of America, McKinsey & Co., Sheshunoff, Suncoast Credit Union, Wachovia, and Compass BBVA. “We are excited to offer additional value to our clients through Steven’s executive-level expertise and technical data science knowledge,” Sommer said.

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“I look forward to introducing Cornerstone’s bank and credit union clients to advanced analytics solutions that can help them execute successful digital growth, customer retention, risk mitigation, and profit improvement strategies,” Simpson said.

Adding deeper analytics to the firm’s advisory services enhances Cornerstone’s ability to help financial institutions quickly execute on growth and performance improvement strategies, Sommer observed. “Coupled with our robust Performance Vault benchmarks, our clients will have even greater fact-based insights to drive their strategic decisions and achieve business outcomes faster,” he concluded.

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