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Finastra Acquires Malauzai

Finastra
has acquired Malauzai, a provider of mobile and Internet banking
solutions for community financial institutions. The deal reflects
Finastra’s commitment to the US retail and business banking sectors by
further enabling digital transformation for community banks and credit
unions across the country.

“Credit unions and community banks are the fabric of American financial
services. We strive to help them realize the benefits of digital
transformation – including being able to deliver outstanding experiences
right across their consumer and business customer lifecycles,” said
Simon Paris, CEO at Finastra. “Together, our two companies deliver a
fully integrated open core platform for payments, lending and digital,
across Finastra’s 4,500-strong US-based community market customers and
Malauzai’s non-core US-based customers. We value Malauzai’s market
leadership and its open approach, which is in perfect alignment with our
open platform vision.”

The acquisition is built on an already successful and proven partnership
between Finastra and Malauzai, which saw the latter’s digital solution
integrated into Finastra’s Fusion Phoenix core banking system. Since
2015 the two companies have amassed over 130 joint customers, including
Wisconsin-based Horicon
Bank, all using the combined capabilities to drive better digital
engagement with their customers and members, as mobile and online
banking reshapes the consumer journey.

Tom Shen, CEO at Malauzai said, “We’re extremely excited for the next
chapter of our story with Finastra. Together we have a deep
understanding of the community banking space. By combining a
best-in-class core experience, backed by leading innovative mobile and
Internet banking capabilities and our mobile-only design approach,
community financial institutions win. The acquisition creates a
compelling proposition for our existing customer base and enables
Finastra’s customers to deliver a seamless banking experience with a
robust breadth of services, via a single provider.”

Headquartered in Austin, Texas, Malauzai is a provider of digital
banking solutions for community financial institutions. It serves more
than 350 US community markets institutions with over one million monthly
active users.

Malauzai was advised by Krall & Co. Inc. on the transaction. Financial
details of the deal have not been disclosed.

About Malauzai Software

Malauzai was incorporated in 2010 in response to the growing demand for
a technology company that could provide innovative mobile solutions for
community financial organizations. As a cool company in a cool town with
a focus primarily on community financial institutions, Malauzai provides
consumer and business digital banking that enhance the customer
experience for mobile and Internet banking, ultimately resulting in
increased value for financial institutions.

About Finastra

Finastra unlocks the potential of people and businesses in finance,
creating a platform for open innovation. Formed in 2017 by the
combination of Misys and D+H, we provide the broadest portfolio of
financial services software in the world today—spanning retail banking,
transaction banking, lending, and treasury and capital markets. Our
solutions enable customers to deploy mission critical technology on
premises or in the cloud. Our scale and geographical reach means that we
can serve customers effectively, regardless of their size or geographic
location—from global financial institutions, to community banks and
credit unions. Through our open, secure and reliable solutions,
customers are empowered to accelerate growth, optimize cost, mitigate
risk and continually evolve to meet the changing needs of their
customers. 48 of the world’s top 50 banks use Finastra technology.

Please visit www.finastra.com.

Corporate headquarters

Four Kingdom StreetPaddingtonLondon W2 6BDUnited
KingdomT +44 20 3320 5000

View source version on businesswire.com: https://www.businesswire.com/news/home/20180618005628/en/