It’s not quite selling hot chocolate in August, but pitching products to the collapsing financial services industry is not easy in these days of bankruptcies and layoffs.

Despite the economic slowdown, however, Providence-based Andera Inc. says banks have been gobbling up its financial software. In the last year, the company says, it has doubled its revenue.

Banks have suffered deep loses from poor investments, generating dismal balance sheets, a shortage of cash to loan –– and a big opportunity for Andera. Unable to borrow money, financial institutions are hunting for new depositors, boosting interest in software that lets customers quickly register accounts online.

Full Story: R.I. start-up finds its niche Source: Providence Journal, January 7th, 2009 Author: Benjamin N. Gedan Added on January 7th, 2009 at 11:09 am, by Matt Mikula