The London, U.K.-based financial technology company Finastra has acquired the Austin, Texas-based Malauzai, a provider of mobile and internet banking solutions for community financial institutions.
The deal, according to Finastra, reflects its commitment to the U.S. retail and business banking sectors by further enabling digital transformation for community banks and credit unions.
"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," Simon Paris, CEO of Finastra, said. "Together, our two companies deliver a fully integrated open core platform for payments, lending and digital, across Finastra's 4,500-strong U.S.-based community market customers and Malauzai's non-core U.S.-based customers. We value Malauzai's market leadership and its open approach, which is in perfect alignment with our open platform vision."
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
