Pollen Street Capital has agreed to acquire Universal Banking, Finastra’s global core banking software division.
The transaction will see Universal Banking operate as a standalone business under its existing management team following completion. Finastra said the divestiture will allow it to sharpen its focus on payments and lending, while Pollen Street plans to support further investment in product development, including generative AI and data capabilities, as well as customer delivery initiatives.
Universal Banking provides core banking software supporting account and deposit administration, payments, lending and treasury operations for retail, commercial and corporate banks. The business serves more than 150 customers across over 100 countries, including large and regional banks, digital banks, Islamic banks and building societies.