Finastra is deepening its commitment to the US community banking market with the acquisition of digital banking provider Malauzi.
The agreement is built on an already successful partnership between Finastra and Malauzai, which saw the latter’s digital solution integrated into Finastra’s Fusion Phoenix core banking system. Since 2015 the two companies have amassed over 130 joint customers.
Founded in 2009 as an app-based supplier to community banks, Malauzai has raised over $24.1 million and serves a customer base of 350 clients with over one million monthly active users.
Simon Paris, CEO at Finastra, says: “Together, our two companies deliver a fully integrated open core platform for payments, lending and digital, across Finastra’s 4500-strong US-based community market customers and Malauzai’s non-core US-based customers. We value Malauzai’s market leadership and its open approach, which is in perfect alignment with our open platform vision.”
Terms of the transaction were not disclosd.