Pollen Street Capital to Acquire Universal Banking from Finastra

London, 19 June 2026: Pollen Street Capital (“Pollen Street”) today announced that it will acquire Universal Banking (“UB”), Finastra’s global core banking software business.

UB provides mission-critical core banking technology that supports account and deposit management, payments, lending, and treasury operations for retail, commercial, and corporate banks. It supports over 150 customers worldwide including global and regional financial institutions, digital banks, Islamic banks, and building societies across more than 100 countries.

At the center of the business is Essence, UB’s award winning next-generation, cloud-first, open banking platform, which helps financial institutions modernize legacy systems, accelerate innovation, and improve operational efficiency. Recognized by customers and industry analysts alike, Essence has established itself as a leading platform for banks seeking a modern, flexible foundation for growth.

Demand for core banking modernization continues to grow as financial institutions look to simplify operations, improve customer experiences, and prepare for the next generation of digital banking. Increasingly, banks are seeking to modernize over time, balancing transformation with continuity of critical operations. UB helps customers navigate that transition by offering modern technology solutions designed to enable new and existing systems to coexist and progressively modernize, building on deep industry expertise and a strong track record of delivery.

Pollen Street’s backing will support UB as it becomes a standalone business, providing investment to accelerate product innovation including GenAI and data capabilities, strengthen customer delivery, and expand the capabilities customers need to succeed in a rapidly evolving market.

Chris Walters, Chief Executive Officer of Finastra, said: “Universal Banking is a strong business with talented people, proven products, and deep customer relationships. Under Pollen Street Capital, it will have the dedicated focus and investment to build on that strength. For Finastra, this allows us to sharpen our focus on payments and lending—areas where we see significant opportunities to grow and deliver even greater value for our customers.”

Anastasia Kovaleva, Partner at Pollen Street, added: “UB is a high-quality business with a strong foundation, longstanding customer relationships, and a modern platform delivering tangible transformation outcomes. The business is well positioned for future growth in the next phase of core banking evolution. We are excited to partner with the management team to support the next phase of the company’s development, invest in AI-led innovation and help customers accelerate their modernization journeys.”

The acquisition reflects Pollen Street’s strategy of investing in specialist financial services and technology businesses with strong market positions, durable customer relationships, and attractive growth opportunities. Following completion of the transaction, UB will operate as an independent business led by its existing management team.

The transaction remains subject to customary regulatory approvals.

Arma Partners served as financial advisor to Finastra and Vista Equity Partners and Kirkland & Ellis served as legal advisor. Nomura served as financial advisor to Pollen Street and Clifford Chance served as legal advisor.

Further information:

Pollen Street
Chris Sibbald, FGS Global, +447855955531, chris.sibbald@fgsglobal.com

Finastra
Shirley Powell, Finastra, +1 404-274-0557, shirley.powell@finastra.com

About Pollen Street

Pollen Street is a fast growing and high performing private capital asset manager. Established in 2013, the firm has built deep capability across the financial and business services sectors aligned with mega-trends shaping the future of the industry. Pollen Street manages over €8bn AUM across private equity and credit strategies on behalf of investors including leading public and corporate pension funds, insurance companies, sovereign wealth funds, endowments and foundations, asset managers, banks, and family offices from around the world. Pollen Street has a team of over 90 professionals.

www.pollenstreetgroup.com 

About Finastra

Finastra is a global leader in financial services software, trusted by thousands of customers - including many of the world’s top banks - in over 100 countries. Backed by Vista Equity Partners, we partner with financial institutions to deliver modern, reliable technology that helps them adapt, grow, and serve their customers with confidence. Visit www.finastra.com or follow Finastra on LinkedIn.