Creation of a global SWIFT Service Partner in Europe

With a combined number of 120 customers, Cardinal Consulting and OnFin will be one of the leading global SWIFT Service Partner in Europe and will create an unparalleled community of SWIFT practice enabling collaboration and innovation across Europe.

The merger marks a major milestone in the build-out of a European network of business and technical experts fully dedicated to serving SWIFT existing and prospective users as they prepare to embark on the next SWIFT great leap step forward.

Currently more than 120 financial institutions and corporate customers secure their SWIFT operations using innovative business and technical solutions from the two organisations. Bringing Cardinal Consulting and OnFin together provides a powerful platform for the necessary innovation and support that SWIFT users will be expecting over the next five years.

Building on its complementary strengths and synergies, the merger of Cardinal Consulting and OnFin unites two innovators servicing SWIFT customers, both with complementary heritages in their field of expertise.

The tie-up between Cardinal Consulting and OnFin is based on their geographic and business fit, the key strengths of the combination include:

• Top rated, proven services recognised for quality, flexibility and reliability,
• A broad, unified platform for direct and indirect connectivity to SWIFT,
• A world-class service and support organisation benefiting from best-practices and infrastructure investments of both companies who have a long experience in the field,
• A stronger and more comprehensive presence in the global SWIFT Consulting Services markets,
• Larger revenue streams, enabling greater investment for innovation.

A dynamic built on action, quality and time efficiency

The Group's organisation will be structured around two companies managed by Adyl Sayagh and Rachael Mellen (Cardinal Consulting), and Alexandre Valentin and Olivier Ringard (OnFin).

"This merger makes tremendous sense for our customers, shareholders and employees. It marks an unparalleled opportunity for two successful, mission-driven organisations, to unite with a singular focus on being the premier SWIFT Service Partner and SWIFTNet platform of choice for existing and prospective SWIFT customers" says Adyl Sayagh, chairman, Cardinal Consulting. "Together with our customers, employees and partners, we have one of those rare and special opportunities to truly contribute to improving the access, quality, efficiency and day-to-day use of the SWIFT infrastructure on a global scale".

"Both companies are passionate about the unique and constantly renewed opportunities that SWIFT offers to its customers. Alongside our respective customers, we have truly pioneered the category together, our relationship dates from the old days of ST200/ST400 migrations to SWIFTAlliance and more recently with the SWIFTNet migration Phase 1 and Phase 2" says Olivier Ringard, Deputy Managing Director, OnFin. "Given the alignment of our visions, technologies and overall strategies, the combination of our two companies will advance our quest for SWIFT excellence, benefiting existing and future SWIFT customers".