Misys Banking Systems, a provider of banking software and solutions, has acquired S.C. Fino Capital SRL, a Romanian financial software development services business that will increase its development capabilities in the treasury and capital markets arena.
With Fino, Misys is acquiring management and employees who provide specialist development services for the financial services industry. The team has grown rapidly and has built significant domain, industry and technical expertise in the OTC derivatives arena and specifically in the Misys Summit product range. Capabilities encompass financial software design, development, maintenance, testing, quality assurance and support, with solutions provided for all parts of the financial institution, from front-office trading, through middle-office risk management, to back-office accounting, operations and documentation.
“This acquisition will significantly enhance our development capabilities, accelerating and broadening delivery of the product roadmap to our clients,” says Ed Ho, the CEO of Treasury & Capital Markets at Misys Banking Systems. “With a rapidly growing customer base and increased functional requirements, this is the number one priority for our business and we are very excited by the opportunities that this team will bring Misys and our customers.”
“This is a very exciting time for us,” adds Dan Stemate and Daniel Paunica, the founders of Fino. “Our team has an excellent relationship with Misys and we are very much looking forward to further integrating our efforts with the Misys Summit team. The market is demanding ever more innovative products from vendors and as one team, we will be able to deliver market-leading solutions faster, increasing the value we deliver to customers.”