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Payments General

Finastra acquires banking app provider Malauzai

Tuesday 19 June 2018 | 12:24 PM CET

Finastra has acquired digital banking provider Malauzai to bolster its presence in the US retail and business banking sectors for credit unions and community banks.

According to Finastra, the acquisition is built on their partnership, which saw Malauzai’s digital solution integrated into Finastra’s Fusion Phoenix core banking system.

Since 2015 the two companies have amassed over 130 joint customers, including Wisconsin-based Horicon Bank.

Malauzai has more than 350 US community markets institutions on its books and over one million monthly active users.

Financial details of the deal have not been disclosed.

More: Link
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