The world’s third-largest financial technology (fintech) company, Finastra, has been officially launched, following the union announced in March between Canada’s D+H and London-based Misys.
The new company created by the combination has around 10,000 employees and over 9,000 customers across 130 countries, including 48 of the top 50 banks globally. It will be privately held by Vista Equity Partners, which has owned Misys since 2012 and added D+H three months ago.
Finastra will be led by Nadeem Syed in the role of chief executive officer (CEO). He was previously CEO of Misys and has over 27 years of experience leading global technology companies.
“We firmly believe that Finastra is greater than the sum of its parts. said Robert Smith, founder, chairman and CEO of Vista Equity Partners.
“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.”
The top five sectors Asian fintech investors are interested in are data analytics, blockchain, lending, payments and regtech, according to Gary Hwa, EY regional managing partner.
On the third day of the Singapore Fintech Festival conference, there was a focus on specific applications of fintech innovation. One was trade finance, which is clearly is ripe for a revolution.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Technology will drive the innovation in banking: Damian Richardson, head of payments strategy & innovation at NatWest
At this year's Sibos conference in Toronto, digital finance reporter, Alara Basul, sat down with Damian Richardson, head of payments strategy and innovation at NatWest to discuss how technology is driving innovation in banking.