Finastra is a

financial software Financial software or financial system software is special application software that records all the financial activity within a business organization. Basic features of this system not only includes all the modules of accounting software like acc ...

company

headquartered Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the top ...

London London is the capital and List of urban areas in the United Kingdom, largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary dow ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

.Finastra Limited: Company number FC034398
Companies House. Accessed August 2021. The company offers a portfolio of products and solutions to the retail banking, transaction banking, lending, and treasury capital markets. Finastra was formed in 2017 by the combination of London-based Misys, a provider of financial operations software, and global payments and lending technology provider

D+H DH, Dh, dh, or dH may refer to: Places * DH postcode area, in the United Kingdom for the area of Durham and surrounding towns * Diamond Head, Hawaii, a volcanic tuff cone on Oʻahu Organisations * D+H, a Canadian financial services company * Dep ...

. At the time of its formation, Finastra was considered the third-largest financial services company in the world.

Misys history

1970 to 2000

The company was founded by Roger Morgan and Kevin Lomax as Misys to develop insurance software. In 1997, it bought Medic Computer Systems, a healthcare software business.

2000 to present

In June 2001, Misys bought ''DBS Management'', a supplier of software to Independent Financial Advisors. In June 2001, Misys bought Sunquest Information Systems, a United States based supplier of medical systems software. In January 2004, Misys bought ''IQ Financial Systems'' from

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

. In July 2005, Misys, bought ''Almonde''. In February 2006, Misys bought ''Intesio''. In March 2006, Misys bought ''NEOMAlogic''. Mike Lawrie was appointed CEO in October 2006. In July 2007, Misys sold its diagnostic information software division to

Vista Equity Partners Vista Equity Partners is an American investment firm focused on financing and forwarding software, data, and technology-enabled startup businesses. Vista has invested in hundreds of companies, including Misys, Ping Identity, and Marketo. The ...

. In October 2008, Misys' subsidiary, Misys Healthcare, was merged with

Allscripts Allscripts Healthcare Solutions, Inc. is a publicly traded American company that provides physician practices, hospitals, and other healthcare providers with practice management and electronic health record technology. Allscripts also provides ...

, a medical records business, to become ''Allscripts-Misys Healthcare Solutions, Inc.'' In November 2010, Misys bought Sophis, a provider of portfolio and risk management software. In February 2012, Misys entered into merger talks with its Swiss rival

Temenos A ''temenos'' ( Greek: ; plural: , ''temenē''). is a piece of land cut off and assigned as an official domain, especially to kings and chiefs, or a piece of land marked off from common uses and dedicated to a god, such as a sanctuary, holy gr ...

. The deal later collapsed when the two sides were unable to agree to terms. In March 2012, private equity firm

announced that it had reached an agreement to acquire Misys. In June 2012, upon the completion of the acquisition by Vista Equity Partners, Misys was merged with Turaz, another acquisition of Vista. Turaz was formerly the treasury and risk management software division of

Thomson Reuters Thomson Reuters Corporation ( ) is a Canadian multinational media conglomerate. The company was founded in Toronto, Ontario, Canada, where it is headquartered at the Bay Adelaide Centre. Thomson Reuters was created by the Thomson Corpora ...

. In February 2014, Misys bought

Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Pannonian Basin, Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the ...

-based IND Group, a supplier of online and mobile banking software. In August 2014, Misys bought Custom Credit Systems, a US-based supplier of credit workflow and loan origination software. In March 2017,

announced that it would be acquired by Vista Equity Partners and combined with Misys In June 2017, the merger with D+H was completed, and the company was rebranded as Finastra In January 2018, Finastra acquired Olfa Soft for its FX e-trading platform for financial institutions. In April 2018, Finastra launched an innovation lab in Hong Kong to enable collaboration between banks and other fintech companies. In June 2018, Finastra announced it acquired Malauzai (

Austin, Texas Austin is the capital city of the U.S. state of Texas, as well as the seat and largest city of Travis County, with portions extending into Hays and Williamson counties. Incorporated on December 27, 1839, it is the 11th-most-populous city ...

), a provider of mobile and internet banking solutions for community financial institutions.Finastra Acquires Mobile Banking Provider Malauzai
/ref> In June 2018, Finastra, launched FusionFabric.cloud, an open platform to develop apps, connect ecosystems and foster collaboration between banks and fintechs.

D+H History

Following a series of acquisitions starting in 2005,

shifted its business to providing financial technology services worldwide. In 2011, D+H went public on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the ...

. It acquired Mortgagebot and ASSET Inc. in 2011, Avista Solutions in 2012, Harland Financial Solutions and Compushare in 2013, and Fundtech (for $1.25b) in 2015. In 2016, D+H added blockchain technology capabilities to its global payments platform. The added capabilities enabled banks that use its Global PAYplus services platform to access distributed ledgers to connect networks, move money in real-time and improve access to liquidity. On 17 June 2017, D+H announced that it would be acquired by

and combined with Misys, operating under the new company name Finastra for a total enterprise value of approximately $4.8 billion.

References

External links

Official site
{{Authority control Companies formerly listed on the London Stock Exchange Software companies of the United Kingdom Companies based in the City of Westminster Software companies established in 1979 Financial software companies Banking software companies Financial technology companies 1979 establishments in England British brands