Software-as-a-service (SaaS) enterprise agency Zafin is buying international pricing and threat analytics group FINCAD to grow to be certainly one of Canada’s largest business-to-business (B2B) FinTech corporations.
With the acquisition of FINCAD, Zafin boosts its portfolio and analytics capabilities and expands its international footprint to incorporate over 450 institutional shoppers, greater than 60 ecosystem companions, and a workforce topping 500 folks throughout 13 international places.
“As we look to further accelerate our global growth and enhance our end-to-end pricing and analytics offering to the marketplace, this move into the capital markets space is a key step,” Al Karim Somji, founder and group CEO of Zafin, mentioned in a press launch.
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Somji pointed to FINCAD’s efficiency historical past offering by-product analytics and pricing in addition to its proficient workforce as being a terrific complement to Zafin. As a mixed international entity, he sees the possibility to scale by “sharing deep subject-matter expertise” and sharing expertise on central fronts, together with pricing and analytics.
“I believe with this strategic acquisition we’re truly going to disrupt the industry and set a new standard for how institutions can partner with FinTechs like Zafin and FINCAD to deliver powerful product, pricing and advanced analytics solutions,” Somji mentioned.
Worldwide banks, asset administration corporations, insurance coverage corporations and hedge funds depend on FINCAD for by-product and fixed-income pricing, modeling and threat analytics. FINCAD brings experience in capital markets and next-gen analytics, which can place the mixed entity for development. Following the acquisition, FINCAD will function because the Capital Markets Group of Zafin below the established FINCAD model.
Christian Kahl, head of product technique and consumer service at FINCAD, will tackle the position of Interim President of Capital Markets at Zafin. Russell Goyder, presently FINCAD analytics chief and head of product improvement, will function Zafin’s chief analytics officer. Both Kahl and Goyder will report back to Somji.
“Our clients will benefit from Zafin’s expertise in cloud-native platform technologies, unparalleled user experience, as well as Zafin’s impressive ecosystem. The combined offerings of Zafin and FINCAD will enable us to deliver an unmatched portfolio of services to our clients, and further positions us as global market leaders,” Kahl mentioned.
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