World’s third largest financial services firm to be headquartered in London
The world’s third largest financial services firm is set to be based in London. This is following the successful merger of financial software company Misys, and payments and lending technology provider D+H. The new merger has been named Finastra.
Finastra aims to provide the largest set of banking, lending, and capital markets software to businesses globally.
The new firm was formed after Vista Equity Partners - owner of Misys, acquired D+H. Though based in London; Finastra will maintain another HQ in Toronto, Canada.
The fintech company has 10,000 employees and provides software solutions to 9,000 consumers, including 48 of the world’s top 50 banks.
Finastra aims to provide innovative, next-generation financial software, enabling financial services companies to provide digital services on location or via the cloud. Previous innovative services of the company include: AI in robo-trading, crowd lending, and faster real-time payments.
The company will focus on serving businesses of all sizes internationally, including: community and global banks, credit unions, and corporations.
Commenting on the merger, Vista Equity Partners Founder, Chairman, and Chief Executive Officer Robert Smith said: “We firmly believe that Finastra is greater than the sum of its parts. The combination of scale, efficiency, and market leading services 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.”