There is a new kid on the fintech block, with Misys and D+H joining forces to create a diversified global financial software company – a company billed as the third largest fintech company in the world.
Financial software provider Misys and global payments firm D+H are both owned by Vista Equity Partners, which has made the move to merge the companies into one company boasting 10,000 employees and over 9,000 customers across 130 countries.
Finastra will be led by the previous CEO of Misys, Nadeem Syed, with London set to be the companies home base. The new firm will still maintain North American headquarters in Toronto, Canada.
“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,” said Mr Syed.
“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.”
Finastra will offer the best of both Misys and D+H, providing a broad set of retail banking, transaction banking, lending, and treasury and capital markets software capabilities to firms across the world. The company’s open architecture and approach enable financial institutions to harness the power of software ecosystems and will be delivered on premises, hosted or via the cloud.
With the increased scale and geographic reach resulting from the merger, Finastra claims that it will be able to serve customers better, regardless of their size or geographic location – from global banks, to community banks, credit unions, and corporations.
“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,” said Robert Smith, Founder, Chairman and CEO of Vista Equity Partners.