Finastra Sells Core Banking Business to Focus on Payments and Lending

Private capital asset manager Pollen Street plans to acquire Finastra ’s global core banking software business, Universal Banking (UB), and support UB as it becomes a standalone business. Pollen Street will provide investment to UB to help the company accelerate product innovation, strengthen customer delivery and expand capabilities, the companies said in a Friday (June 19) press release . The transaction is subject to customary regulatory approvals, according to the release.