Finastra sells its global core banking business
Summary
Finastra is selling its global core banking business, Universal Banking, to Pollen Street Capital for an undisclosed amount. The deal removes Finastra from core banking and lets it focus on payments and lending. Universal Banking will continue as an independent business with its current management team after regulatory approval. The buyer plans to invest in AI and data capabilities to support customer modernization efforts.
Classifications
industries
Fintech & Banking
applications
Accounting and Taxes
AI Classifications
Labels
Financial Software
Banking Software
Payments Software
Linked Companies
Finastra
$1B+