Finastra announces closing of Enhancement Services business sale
London, UK, July 2, 2020 - Finastra has closed the sale of its Canadian-based Enhancement Services business to Sigma Loyalty Group, a provider of enhancement services and marketing programs to Canadian financial institutions and retail partners.
Finastra’s core software solutions are largely focused on the business to business sector and primarily serve financial institutions, while the Enhancement Services business serves the end customer. As such, the transition of this business line to a company already well positioned in the consumer space enables Sigma Loyalty Group to take the business forward and maximize its potential, affording new opportunities to customers.
The transaction, which was previously announced on June 18, was completed on June 30, 2020.
The financial details of the deal were not disclosed.
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Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com.
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