Finastra sells UB core banking software unit to Pollen Street Capital

Finastra has sold its Universal Banking division to Pollen Street Capital, a move that signals a major shift in the underlying technology that powers consumer lending. For retailers and service providers, this deal matters because Universal Banking software is the 'engine' that banks and lenders use to manage your customers' loans, credit lines, and payment schedules. When these core systems change hands, it often leads to a period of modernization or new management priorities for the lending institutions you partner with. Pollen Street Capital is known for focusing on digital transformation. This acquisition means that the financial institutions providing your customers with credit will likely see faster updates to their tech stacks. For your business, this could eventually translate into smoother loan approval workflows, better mobile integration at the point of sale, and more reliable data syncing between your store and the lender. While you won't see an immediate change tomorrow, the investment from a private equity firm usually suggests a push toward more competitive, tech-forward lending products that can help you close more sales.

Source: Finextra — Lending

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