Nordic Capital acquires fintech company Zafin

financialexpress.com:

PE investor Nordic Capital has signed an agreement to acquire a majority share in Zafin, a provider of SaaS core modernisation and transformation solutions for financial institutions. The investment is made in close partnership with Zafin’s founders and management, who will reinvest in the company alongside Nordic Capital, the company said in a statement.

Zafin’s core SaaS platform extracts product and pricing from multiple core systems, enabling users to work collaboratively to design and manage relationship pricing, products, and packages, including personalized propositions. The platform allows banks to dynamically respond to changing customer and market needs across their entire bank core system footprint, all while ensuring regulatory compliance, transparency, and operational control.

As a result of these benefits, such as faster time to market, increased revenue opportunities, lower operating costs, and reduced operational risks, Zafin is a partner for many banks globally. It is a global organization serving a diverse base of customers including Wells Fargo, US Bank, HSBC, Truist, ING, CIBC, PNC, and ANZ.

Al Karim Somji, CEO, Zafin, said: “With Nordic Capital’s scale, technology expertise, and deep market understanding, this partnership enables us to become a global leader in banking technology solutions.”

Mohit Agnihotri, Partner, Nordic Capital Advisors, said: “Nordic Capital looks forward to partnering with Zafin management on the next phase of the company’s growth, including leveraging our seasoned inhouse operational team, deep expertise and expansive relationships in the sector.”

Follow us on Twitter, Facebook, LinkedIn