Finastra offloads core assets in payments‑led pivot

Finastra offloads core assets in payments‑led pivot

Finastra is cutting back its core‑banking footprint, completing two major divestments in the space of a month Finastra has agreed to sell its Universal Banking business to Pollen Street Capital, allowing the company to focus more on payments and lending. The deal, announced on 19 June, will see Universal Banking become an independent business under new ownership, subject to customary regulatory approvals.  The division serves more than 150 insti…

Finastra Lines Up Second Banking Software Sale With Universal Banking Deal

Finastra is selling its Universal Banking business to Pollen Street Capital as it narrows its focus on payments and lending. Financial terms were not disclosed. The deal follows Finastra’s recent sale of its US Mid-Market banking business to CORA Group, which covered core banking, digital banking and analytics products. Universal Banking provides core banking software for account and deposit management, payments, lending and treasury operations.…