Finovifi, an Alabama-based supplier of AI-powered fintech options for group banks, has acquired Trendy Banking Techniques (MBS), a core processing firm based mostly in Omaha, Nebraska.
The acquisition additionally consists of Trendy Banking Techniques of Alabama (MBSAL), a long-time distributor of MBS options within the Southeastern US, headquartered in Alabama.
The acquisition will combine Finovifi’s AI-driven banking operations, cloud-native options, and API connectivity with MBS’s platform, aiming to reinforce compliance, real-time funds, and general banking capabilities.
“I’m extremely pleased with what we’ve constructed at Trendy Banking Techniques over time, serving group banks with expertise that empowers them to thrive,”
stated Mike Cronin, CEO of Trendy Banking Techniques.
“Becoming a member of forces with Finovifi is the right subsequent step for the corporate’s legacy, as their modern imaginative and prescient and dedication to buyer success align completely with our values.”
Finovifi provides options similar to FraudSentry, FraudXchange, SilverSafe, and ComplyPilot, which concentrate on fraud prevention, compliance, and operational safety.
These might be built-in into MBS’s choices.
“This acquisition represents a novel alternative to bridge the hole out there for technology-led, market-relevant options that assist banks not solely survive however thrive,”
stated Russell Taylor, president of Finovifi.
“By leveraging our experience and concentrate on innovation, we goal to reestablish MBS as a trusted accomplice in enabling banks to retain and develop their market share whereas staying on the forefront of business developments.”
MBSAL has supplied core processing, {hardware} and software program assist, set up, and gross sales to banks throughout Alabama, Mississippi, Georgia, Tennessee, and Arkansas for over 44 years.
Russ Smith, proprietor of MBSAL, will stay with Finovifi following the acquisition.
Featured picture credit score: edited from freepik
