Zafin: Solutions for the World’s Most Influential FIs
Wells Fargo, US Bank, HSBC, Truist, ING, CIBC, PNC, ANZ—just some of the huge financial institutions (FIs) benefitting from Zafin’s expertise in the field of core banking modernisation.
A provider of SaaS core modernisation and transformation solutions for FIs around the world, Zafin is these days recognised as an industry leader thanks to its innovative approach.
Such is its appeal that Nordic Capital, a private equity investor specialising in technology, payments and financial services, has signed an agreement to acquire a majority stake in the business.
Nordic Capital is set to work closely with Zafin’s founder and management team, leveraging its expertise, experience and resources to create tangible business results for banks globally.
Simplifying core banking modernisation
Founded in 2002, Zafin offers a SaaS product and pricing platform that simplifies core modernisation for top banks worldwide, enabling increased revenue, profitability and enhanced customer experiences.
Its platform enables business users to work collaboratively to design and manage pricing, products and packages, including personalised propositions, leaving technologists able to streamline core banking systems.
By utilising Zafin’s technology, banks are better positioned to accelerate time-to-market for new products and offers, while lowering the cost of change and achieving tangible business and risk outcomes.
Not only does the platform increase business agility, but also enable personalised pricing and dynamic responses to evolving customer and market needs.
Headquartered in Vancouver, Canada, today Zafin has countless offices and customers dotted across the globe.
Acquisition a 'game-changer' for Zafin
Nordic Capital has more than 30 years’ experience in accelerating the growth of innovative technology companies.
To date, the firm has made 29 technology investments with an aggregate enterprise value of close to US$26bn.
Terms of Nordic Capital’s deal to acquire Zafin have not been disclosed, but completion is anticipated at some stage during Q1 2024.
“This partnership is an absolute game-changer for the Zafin team and our customers,” comments Al Karim Somji, CEO at Zafin.
“We’ve been powering the modernisation and transformation of banks and future-proofing their banking technology investments for years. With Nordic Capital’s scale, technology expertise and deep market understanding, this partnership enables us to become a global leader in banking technology solutions.”
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