London based Wealth Management software provider Third Financial has acquired the ActiveBank business from Temenos for an undisclosed fee.
Third Financial is one of the fastest growing providers of wealth management software in the UK. The Tercero Software Platform is widely regarded as one of the most advanced front to back office wealth management systems available in the UK and near offshore markets. Third Financial have offices in Covent Garden, London and a software development centre in the Midlands.
The ActiveBank business was part of Financial Objects, which was acquired by Temenos in 2008. The original founders of Financial Objects are the principals behind Third Financial, which was formed in 2008 to provide a new generation of software to the market.
Stewart Foster, Chief Executive of Third Financial comments: "ActiveBank complements our continued growth strategy increasing our client base in the UK and internationally while adding the IPR of ActiveBank to our product range."