Financial software solutions provider Finastra is selling its Treasury and Capital Markets (TCM) division, which encompasses the Kondor and Summit offerings, to the Apax Funds affiliate of the private equity firm Apax Partners. The TCM division offers solutions for investment banking, securities finance, trading, corporate treasury management, risk, and compliance. Both parties to the transaction… Read More >>
Finastra Takes Aim at MT-to-ISO 20022 Translations
Finastra, a provider of financial services software applications, recently launched its Transformation Service in support of the translation of MT formatted messages to the new ISO 20022 MX messaging standard. The new service is intended to help firms with financial messaging cooperative Swift’s migration from MT to MX ISO 20022 messaging standards. “The Transformation Service… Read More >>
Finastra Taps OpenFin to Bolster Kondor
Finastra, a financial software applications and marketplaces provider, is collaborating with OpenFin to improve the user experience of Finastra Kondor, a well-established bank treasury management system, officials say. The OpenFin technology is intended to strengthen Kondor “with enhanced workspaces and workflows to drive greater efficiencies and streamline the decision-making process for banks,” according to the… Read More >>
Partnership Brings Kondor to South Korean Banks
Finastra and risk and compliance solutions provider UNITAS are now partners who will promote Finastra’s Kondor treasury solution across South Korea, officials say. The partnership is intended to combine Finastra’s Kondor trading system with UNITAS’s local expertise and experience with financial institutions, officials say. The effort will target banks that want to digitally transform and… Read More >>
Wipro Buys Capco for $1.45 Billion
Acquisition Expected to Close by June 30 The London-based Capco, a financial services and technology consultancy, will become part of Wipro Ltd., the Bangalore-based global IT and services provider as a result of a $1.45 billion acquisition. The agreement will enable Wipro to offer “digital, consulting and technology services to financial institutions in the Americas,… Read More >>
Finastra & CloudMargin Launch Collateral Management Service
Finastra’s FusionFabric.cloud Links to CloudMargin Financial services systems vendor Finastra is partnering with CloudMargin, a collateral and margin control solutions provider, to offer an integrated collateral and margin management solution via a Software-as-a-Service (SaaS) model. The “Collateral Management as a Service,” will be hosted by CloudMargin and available through Finastra’s FusionFabric.cloud platform, officials say. The… Read More >>
Regulators Extend Comment Deadline for New Volcker Rule
Five Regulators Move Volcker Rule Deadline to Oct. 17 Securities industry participants will get more time to weigh in on the very controversial Dodd-Frank Era “Volcker Rule,” which in its initial form prohibits proprietary trading and banks from owning hedge funds or private equity funds. Five federal financial regulatory agencies have agreed to extend until… Read More >>
Finastra to Sell CMC Business Unit to Teranet
Teranet’s CM Solutions Will Acquire the Shares of CMS London-based financial software vendor Finastra, formed in 2017 by the combination of Misys and D+H, reports that it has entered into a definitive agreement to sell its Canadian-based Collateral Management Corp. (CMS) business to Teranet. Teranet’s affiliated entity CM Solutions Inc. will acquire the issued and… Read More >>
BNY Mellon Integrates the Former Albridge Analytics
BNY Mellon Weaves Intermediary Analytics into Asset Servicing BNY Mellon, a provider of investment management and investment services, reports an expansion of its Intermediary Analytics solutions suite, formerly Albridge Analytics. “The integration of Intermediary Analytics into BNY Mellon’s Asset Servicing business facilitates the creation of new and enhanced distribution solutions intended to help BNY Mellon… Read More >>
Finastra Acquires Olfa Soft to Complete eFX Trading Suite
Finastra is adding Olfa Soft’s electronic foreign exchange (FX) trading platform Seamless FX to its portfolio of treasury transaction offerings as a result of a recently announced acquisition. The Geneva, Switzerland-based Olfa Soft offers trading platform design and integration services to facilitate uninterrupted FX services, officials say. “As FX markets become more competitive with trading… Read More >>
