Software companies Misys and D+H have joined forces to form Finastra, which will be one of the largest financial technology companies in the world.
The newly-formed privately-held company now has approximately 10,000 employees and over 9,000 customers across 130 countries, including 48 of the world’s largest banks. It will be headquartered in London, with North American headquarters in Toronto.
Finastra offers retail banking, transaction banking, lending, and treasury and capital markets software capabilities, which can be delivered on bank premises, hosted, or via the cloud.
The firm believes that its increased size will allow it to serve customers regardless of their size or geographic location, from global to community banks, from credit unions to corporations.
“Serving all of our customers and partners remains our top priority. By coming together as Finastra we are committed to enhancing our ability to deliver market-leading products and services, and to being an even more strategic partner to our customers.
“We will build momentum, delivering innovative and transformational products and exceptional service. Our mission is to help our customers, whatever their size, wherever they are located,” says Finastra’s CEO, Nadeem Syed (previously CEO of Misys).
The combination follows the acquisition of D+H by Vista Equity Partners, which already owns Misys.
“We firmly believe that Finastra is greater than the sum of its parts. The combination of scale, efficiency, and market-leading service and technology will create a powerhouse in the fintech sector and uniquely position the company to meet the demands of its global customers and their clients,” adds Robert Smith, founder, chairman and CEO of Vista Equity Partners.