Sourcing system to be renamed Avelo Trigold

Avelo is set to rebrand TrigoldCrystal as Avelo Trigold following its acquisition of the mortgage sourcing system last week.
Under the deal, TrigoldCrystal’s management team will remain and join the team at Avelo.

Paul Yates, strategy and product development director at Avelo, says: “People are used to the Trigold brand so it makes sense to offer that continuity, although we will drop the Crystal from the name.”

Yates adds that the Trigold name could also be dropped over the next two or three years but that has not yet been decided. Trigold changed its name to TrigoldCrystal in 2009 after it purchased Crystal.

Ian McKenna, director of the Finance & Technology Research Centre, says the deal could result in an integrated life, protection and mortgage portal.

He says: “By becoming part of the business which includes the largest life and pensions quotations and new business portal and one of the leading investment adviser client management systems, TrigoldCrystal fits neatly into an expanding portfolio of offerings.

“This deal brings the prospect of an integrated life, protection and mortgage portal for the first time.”

Rival firm Mortgage Brain nearly bought TrigoldCrystal last year but pulled out after the bid was referred to the Competition Commission by the Office of Fair Trading.